A successful corporate brand is defined by - company’s mission, values, and objectives. • Main purpose of adopting a corporate brand - To have a unique and consistent look and feel across every medium. • Importance - • increases the value of a company, • provides employees with direction and motivation, • makes acquiring new customers easier. • Corporate branding holds an important place in marketing, for both small and large companies.
Importance of Corporate Branding • Company Personality • Defines a business’s personality. • Look and feel of products, product packaging and physical store characteristics define the identity. • Customers identify and relate to a company by giving it human-like qualities. • Strong connections lead to high customer loyalty, increased profits and beneficial word-of-mouth advertising.
Market Share • Helps pave the way for a company to increase its market share through expanding its product footprint. • An established, known brand requires less marketing effort to sell the company, products and services to a new market. • A strong brand image coupled with a desired, quality product may infiltrate an established market and quickly take market share and increase the company’s profits.
Improves Recognition • People immediately recognize products or company from the logo, color scheme and consistent imagery. • The physical identification and characteristics allow customers to easily pick out a company’s product in a crowded marketplace for purchase. • Effective corporate branding helps the “image” of the company stick in the mind of the consumer.
Creates Trust • A professional appearance builds credibility and trust. • People more likely to purchase from a business that appears polished and legitimate. • Emotional reactions are hardwired into our brains, and those reactions are very real influencers.
Targeting • Allows marketing efforts to easily target the most appropriate segments for product offers. • Distinguishes a company by lifestyle, geography and socio-economic factors. • Helps consumers select products appropriate for their needs, desires or wants. • Supports the pricing strategy for the target market.
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