The term ‘corporate branding’ refers to the practice of promoting the brand name of a corporate entity. This is as opposed to brands of specific products or services. The activities and thinking that go into developing and maintaining a corporate brand are different from product and service branding.
This is because the scope of a corporate brand is typically much broader. It should also be noted that while the process of corporate branding is a different activity from product or service branding, these different types of branding can, and frequently do, take place side-by-side within a given organisation.
What’s The Difference Between Corporate Branding and Product Branding?
Corporate branding involves marketing various products or services under the name of a company. Product branding, on the other hand, is a marketing strategy wherein a business promotes and markets an individual product without the company name being front and centre in the advertising campaigns or even on the product labelling.
Management strategies for choosing which avenue to pursue or a combination of the two in branding vary by business and each approach produces results.
Corporate brands generally have the following characteristics:
- A rich tradition and heritage
- A high level of capability and assets
- A local and international presence
- Influential and prominent founders
- Particular values
- Excellent performance records