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Corporate branding" is more than drawing a new logo or changing the colors of the current logo. Instead, corporate branding encompasses the corporation's values and vision as it strives to identify its spot in the marketplace. Companies make the expensive mistake of believing that, as they change their logo and, possibly their slogan, managers and employees will automatically embrace the new company mission.
Creates Vision Simplicity
A strong corporate brand gives simplicity to the brand's entire portfolio, providing a strong identification of the corporation. The General Mills corporate brand is more than the cereals it makes or the big yellow G printed on every package and box. The corporate brand puts forward the company's values and vision, personality and its positioning, along with its corporate image. The simpler a corporate brand is, the easier it is for the general public and investors to connect the desired traits to the company, writes the Branding Strategy Insider website. If the company markets more than one product or service, an effective and simple brand helps the company maintain its focus on its core values.
Distinguishable Identifiers
As a company works to develop an effective corporate brand, it should work to create individual positions and identities for each of its services and products. When it has successfully done so, it aids the public, and investors, in distinguishing its own products from those of its competitors. When a company like Subway touts its sandwiches as "healthy to eat," the general public is better able to distinguish those sandwiches from its competitors. In the boardroom, a strong corporate brand helps officers of the board of directors, the public affairs office and shareholders to communicate the strongest possible company message, states the Brand Channel website. Once an effective corporate brand has been developed and implemented, the company and its officers are still responsible for maintaining its commitment to the new brand as it becomes even more effective.
Cost Effectiveness
One effective corporate brand helps the company to achieve cost effectiveness. Instead of having several smaller brands identifying segments of the company's products, writes the Branding Strategy Insider website. As an example, Walmart's stated commitment to providing value to its customers while keeping prices low can be considered a corporate brand. The company encompasses its core values in one simple statement while developing bilingual signs that were posted strategically in every store. These signs said, "Save more. Live better." The message to customers implied in that simple message said, "You can live a better life shopping here. You can also save more of your hard-earned money."
Adds Financial Value
A strong, effective corporate brand provides financial value for the corporation; when it becomes a company asset, its benefits to the company extend past the price the company paid to have the new brand conceptualized and developed. As this happens, the corporate brand helps the company's bottom line, according to the Brand Channel website.
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