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Brand and Corporate Image Management

Managing a corporations image. Managing brands. Issues associated with developing and promoting brand names and logos Importance of packaging and labels. Developing brand and corporate positioning strategies.

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FIGURE 4.1
Components of a Corporate Image
Tangible Elements Intangible Elements

1. Goods and services sold. 2. Retail outlets where product is sold. 3. Factories where product is produced. 4. Advertising, promotions, and other forms of communications. 5. Corporate name and logo. 6. Employees

1. Corporate, personnel, and environmental policies. 2. Ideals and beliefs of corporate personnel. 3. Culture of country and location of the company. 4. Media reports.

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Role of Corporate Image Consumer Perspective

Consumer perspective. Business-to-business perspective. Company perspective.

Sonys Web site is continually updated, but still retains a consistent corporate image.

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Promoting the Right Image

Creating the right image.
Conveys a clear message about the organization. Should portray the nature of the firm. Fit with products being sold.

Rejuvenating an image.
Easier than changing a well-established image. Add new elements but continue current image.

Changing an image
Extremely difficult. Necessary when
Target market has shrunk or disappeared. Current image not consistent with industry trends.
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Test for Effective Logos

Should be easily recognizable. Should be familiar. Should elicit a consensual meaning among firms target market.
Stimulus codeability

Should evoke positive feelings.

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Benefits of Logo Recognizability

Aids in recall of specific brands. Aids in recall of advertisements. Reduces shopping effort. Reduces search time and evaluation of alternatives.

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Logo Recognizability

McDonalds Golden Arches logo is recognizable enough to stand on its own.

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Branding
Provides quality assurance Reduces search time. Allows a company to charge more. Reduces brand parity. Consumers choose a brand because it is:
Salient Memorable Noteworthy

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Developing a Strong Brand Name

Begins with understanding why consumers buy a brand.

What are the most compelling benefits? What emotions are elicited by the brand either during or after the purchase? What one word best describes the brand? What is important to consumers in the purchase of the product?

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Packaging
Traditional elements
Protect the product inside Provide for ease of shipping, moving, and handling Provide for easy placement on store shelves Prevent or reduce the possibility of theft Prevent tampering

New trends
Meet consumer needs for speed, convenience and portability Must be contemporary and striking Must be designed for ease of use
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Labels
Must meet legal requirements. Provide another marketing opportunity.

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Benefits of Brand Equity

Higher prices Higher gross margins Channel power Additional retail shelf space Reduces customer switching behavior Prevents erosion of market share

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Building Brand Equity

1. 2. 3. 4. 5. 6.

Research current brand image. Decide what makes the brand unique. Communicate brands uniqueness. Spend heavy on advertising. Make domination the goal. Deliver on uniqueness.

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Successful Brand Development

Continue commitment to the brand. Increase market penetration. Understand the brands target market Leverage the effects of penetration

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Positioning Approaches
1. Is relative to competition. 2. Exists in the mind of the consumer. Attributes. Competitors Use or application Price/quality. Product user Product class Cultural symbol

Consumer markets B-to-B markets International markets

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