Corporate branding refers to the practice of promoting brand name of a corporate entity. Branding companies become more valuable in financial services and consumer goods and services.
Marketing jargon for company branding is monolithic branding because it reduces the need of firm to promote individual lines of business or product and services.
For example Virgin group of companies.
The continuous existence of strong organization reflect the power of cooperate to present the following advantage.
- Building long term trust by increasing customer loyalty and convincing consumer of the benefit of their product and services
- Reducing customer search cost for perceive quality product and services.
- Insuring repeat purchase
The corporate brand has to articulate its agreement with stake holder groups consistently and over time in a number of important ways
- Corporate branding usually applies only to organization whereas identity can apply to individual group and countries.
- Corporate branding take longer to develop
- Corporate branding usually achieve high visibility
- Corporate branding can be portable, extended to cover new product and services
- Corporate branding can be valued financially in term of good will.
Another reason through which corporate branding recognized is its ability to engage the hearts and minds of employees. It’s also true that corporate brand depend on the hearts and minds of the employees because employees put their efforts behind the brands which is delivered to the customer indoors brand strategy in which business units enjoy brand status but drive benefits from carrying the overall corporate brands.