The purpose of corporate branding
In our global commercial environment, market competition is fierce, and gaining a prominent position as well as the advantages that such a position will bring, becomes increasingly more difficult.
The ever increasing financial burden added by research and development and aimed to create product/service differentiation makes the acquisition of unique and recognizable brands a necessity. Corporate branding consists of more than just logo design or color scheme. They play a vital role however when it comes to the development of lasting and recognizable visuals.
Corporate branding goes beyond logos and color schemes. A quality corporate branding relies heavily on strategy. It entails much more than a few slogans attached to a marketing front. Strong corporate branding will add recognizable value if it is combined with a long-term corporate view. The aim is to carve out unique market positions for company brands as well as their services.
Branding should be used to achieve and enhance the perception of market leadership within general or specific market segments, creating a bond with consumers. To create powerful branding takes time and considerable effort. The ultimate goal is to merge product and philosophy into a world-wide or nationally recognized entity, distinguishing the company and its brands clearly from its competitors and therefore achieve distinct consumer recognition.
Quality branding strategy is based on simplicity. It is the ultimate identity of the business itself. In recent years, corporate brands/labels have become highly valuable assets in their own right for their respective corporations. Brands are often assets assuming market values which regularly go far beyond book value in company’s balance sheets.
Brand recognition creates responsibility. A brand needs to assume the role of guarantor throughout the life cycle of its products. The trust consumers place in brands and their products is often a major factor for successful and sustainable trading.
An essential part of a fruitful relationship between brand and consumer is the story of the brand. Stories are the engines which drive business. If corporations have an authentic, fascinating brand story they can tell with clarity and passion, the higher their success will be.
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