How To Transfer Money Online - Corporate Branding Marketing

Which some times have value beyond the book value, corporate brand has become a valuable asset for a company. Corporate brand by any measure is very important to contemporary organisations.

What kind of financial benefit it can give to an organisation and to what extent it helps organisations to gain competitive advantages over its competitors. It is then also important to look into the issue how a corporate brand is beneficial to an organisation. To answer the question stated above it is important to explain what a corporate brand is.

Some of the defamations are as follow: There are several definitions of corporate brand presented by different authors and scholars.

" And a formance record, a local or global frame of reference, values and priorities, people, assets and capabilities, a corporate brand will potentially have a rich heritage, in particular. The corporate is defined primarily by organisational associations, aaker defined corporate brand as "As the brand that defines the organisation that deliver and stand behind the offering. David A.

) California management review vol46 no3 spring 2004, aaker. (Brand portfolio strategy by David A.

This reflects the corporate brands unique attributes and helps understand key characteristics of the corporate brand, ethereal and commitment), tangible, intricate, balmer (2001) developed the mnemonic C2ITE (Cultural. Which is viewed as independent and distinct, according to Balmer (2003) the corporate brand is seen as a sixth identity type referred to as the covenanted identity.

It can then state that brand is generally the name of a product or mark of ownership. Actions and normative firm behaviour, manage and communicate corporate brand values in order to guide managerial decisions, while Lawer and Knox (2004) state that a corporate brand is a way to conceive.

So being able to express its self truly and openly and then communicate the message to its consumers clearly.

2003) including customers" (Balmer and Greyser, represents an explicit covenant between organisations and it's key stakeholder groups, at it's core, "The corporate branding philosophy,

" It is an attempt to leverage corporate brand equity to create product brand recognition. Corporate branding can be defined as "Corporate branding refers to the practice of using a company's name as a product brand name.

wikipedia.org/wiki/Corporate_branding

This is the brand equity of Adidas and Rolex. This makes people with money buy the Rolex watches to show the class. Rolex are known as the watches for high-class people, rolex watches can also be an example for this. This made sports people with money buy that item. Though he is the contracted model for Adidas but at the same time it reflects that Adidas as luxurious and expensive item and also a status symbol. "I can't even imagine using any nothing else then Adidas", for example once David Beckham said, there are many advantages of corporate branding as corporate brands represent the class and well known by every body. And unique associations about the corporate brand in memory (Keller 1993); strong, this is when consumers hold favourable, the keeping of an organisations promise can lead to corporate brand equity.

G.M motors have also bought different corporate brands such as Daewoo and Volvo and have transferred the brand equity to them brands. Before VW took over Skoda's sales were declining but in recent years Skoda has improved and its sales has gone up as well due VW's transferred its brand equity to Skoda. This can be seen in the case of VW buying the Skoda. Brand equity can be transferred to other products as well.

Also costs could be reduced when launching the product or service than if it did not have a corporate brand supporting it. Newman (2001) suggests that success rate of a new product or service can increase by twenty percent if it has a corporate brand behind it. This does not stop here there are so many other benefits an organistaion can have by having a corporate brand.

Mercedes has achieved this through due to the string branding and consumer trust on them. When Mercedes build the 4*4 people have bought the vehicles even though it was the first time Mercedes has launched a 4*4 vehicle. Consumers prefer to stay with the organisation they have dealt with before. This is due to the trust and credibility build by the organisations.

Products have shorter lifecycle so corporate brands are preferred over just product brand. And strong corporate brands can decrease the competition in the market, grant (1991) stated that the corporate brand tends to decay slowly. It is also older then the human resources those make the product. For example Coca Cola the brand is much older then the plants and location used to make it. Corporate brand has a longer life as compare to other resources with in the company.

Slogans or logos are more secure then the product it self as it is easy to copy a product but it is nearly impossible to copy a logo. Which are in place, corporate brand represents a logo or a slogan that is protected by laws. A corporate brand is an intangible asset so it is difficult to copy as it is not a product from a production line.

For example Nike has a slogan of "Just Do It" across the globe and through its advertising Nike can promote its different products and services. Which means it is less costly for a firm to produce two separate products than for two specialized firms to produce them separately, corporate brand helps achieving the economies of scope.

Corporate brand is important for the globalise organisations to show that their core value is same wherever the product is. Globalisation is common between all the big organisations. Consumers are more knowledgeable then ever. Due to advancement in technology and in communication world is becoming a small community.

Samsung is brand which consumers can trust and is known for a time. This is gain mainly through innovation but brand equity played its part as well. Samsung did not have much experience in mobile market but their recent mobile model Samsung D500 has outclassed Nokia and Motorola's models, this can be seen when Samsung entered into mobile communication market. Corporate branding is also very useful when organisations want to enter into a new market.

It can be stated by considering Olins statement that corporate brand is important for the organisations. As organsiations with corporate brand believes that this will give them a competitive advantage, these companies have spend millions of pounds on advertising to have a corporate brand. Billboards and other marketing campaigns, reason that these organisations have corporate brands is because that's how they presented their brands through marketing such as T.V advertising. Olins (2001) classed Manchester United and British Airways as organisations with corporate brands. Logo plays a vital role in awareness and it also provides the peace of mind to customers, the brand name. Companies with corporate brands have competitive advantages over those that do not have corporate brand. According to Balmer (2001) a corporate brand is seen as a rare entity due to brands unique pattern of development.

But the importance of a corporate brand has been explored on these big companies. Unilever's general emphasis is on product branding as compare to one corporate brand. This issue of importance of having a corporate brand has not been taken by these major organisations in past for example surf is a product by Unilever. Tends to use the branding of products rather than implementing a corporate brand, for example those that may have a portfolio of brands such as Unilever and Proctor and Gamble, davis suggests corporate brands are not required by some companies.

" The company's chief executive decided that in the future the company would be presented as the ultimate corporate brand. Have realised the importance of managing Proctor and Gamble as a brand, balmer stated in his journal of general management "Mighty proctor and gamble who traditionally espoused the idea that their brands should stand on their two own feet.

) (Corporate Branding and Connoisseurship by Balmer J.M.T Journal of management Vol 21 no 1 autumn 1995.

Many people will just go to a nearest corner shop or a service station to get a bottle of milk. As we will not travel an extra mile to get a Safeway milk, this can true in the case of products like Rolex or Mercedes but when it comes to ever day's essentials such as milk and bread corporate branding is in that important. From statements above it can be stated that corporate brand provides loyalty which means that consumers will only stick with one brand and will not choose any other product.

Luxury and high performance and it can be clearly seen in sub culture of C-class S-class and M-class, consider the example of Mercedes its corporate brand stands for high class. Balmer (2001) states that corporate brands are cultural as they reflect the organisations subcultures. It has discovered that corporate brand has complicated and difficult rapidly changing fundamentals. Organisations are now dealing with the much bigger challenge in term of branding.

Olins suggested that the organizations with no understanding of what are they about tend to fail in long-term. Therefore highlighting the increasing importance of corporate branding, balmer (2003) describes corporate brand as having the role of a driver for many stakeholders. There is a bigger drawback attached to corporate branding as if a company gets a bad publicity of its corporate brand it will affect its all the products. Corporate brands have generally longer life cycle then the product brand. The key question arises here should organisations adapt the concept branding?

And Mercedes to stick with the values they present, it is important for the organisations with strong corporate branding such as Coca Cola. It can also be seen in McDonald's case that they portray themselves as an organisation that care about its customers by offering them clean food but there has been occasions when some of McDonald's outlets were forced to close down due to supply of unhealthy food. Coca Cola has used the advantage unethically when first introduced its water Dasani in U.K and it was later discovered it was nothing but Tap water from general water supply. Corporate branding must be used properly and organisation with strong corporate branding must not take advantage of strong branding and keep the promises and behave in an ethical way.

Organisation must manage their corporate brands effectively and efficiently in order to get the maximum benefit. Corporate brand have many benefits such as gaining the competitive advantages over its competitors and achieving the economies of scale. Corporate brand have impact both externally and internally. Essay above suggests that the corporate brands are created to obtain the significance awareness in a competitive market.

So organisations without a corporate brand such as Proctor and Gamble and Unilever have to work towards achieving one strong corporate brand. It can also conclude from the authors mentioned above that many organisations without a strong corporate brand will face difficulties in coming future.

Corporate brand is stronger then the quality and price of a product but to make it successful right strategies are required. Effective and strategic support of a corporate brand can make it easier for organisations to do business.

" And I would fare better then you, and I would take the brands and trademarks, i would give you the land and bricks and mortar, "If this business were split up, quaker stated, former CEO, so as John Stewart.

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