The term ‘corporate branding’ refers to the exercise of promoting the brand name that is attached to a corporate entity. This is in contrast to developing a brand for a specific product or service. The activities as well as thinking which go into corporate branding differ from product in addition to service branding as the scope of a corporate brand is usually much broader. It should also be noted that, while corporate branding is a distinct activity from product or service branding, these different forms of branding can, and often do, take place side-by-side within a given corporation.
Corporate Branding vs 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 attributes:
- 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.