1 / 34

Corporate Brand Building

Corporate Brand Building. CORPORATE IMAGE - WHAT IS IT?. Corporate Identity. Individual Interpretation . Corporate Image. $. =. Lundquist, O. S., Rønning, L., Sandberg, G., ‘Corporate Identity and Corporate Image, En litteraturstudie av begrepenes definisjoner,

tova
Download Presentation

Corporate Brand Building

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Corporate Brand Building

  2. CORPORATE IMAGE - WHAT IS IT? Corporate Identity Individual Interpretation Corporate Image $ = Lundquist, O. S., Rønning, L., Sandberg, G., ‘Corporate Identity and Corporate Image, En litteraturstudie av begrepenes definisjoner, Diplomoppgave, Siviløkonomstudiet, BI (1997).

  3. Corporate Image in Relation to Corporate Identity Behavior Corporate Identity Corporate Image Communication Symbolism Corporate Identity van Riel, p. 33.

  4. CORPORATE IDENTITY • The way in which an organization presents itself • Symbols • Communication • Behavior • Referred to as Corporate Identity (CI) Mix • Personality manifested through this mix

  5. Product Price Logos Name Stationery Brochures Signs Visit cards Buildings Uniforms Sponsorship Packaging Work environment Figure or “character” CORPORATE IDENTITY MEDIA Peggy Simcic Brønn

  6. IMPORTANCE OF IDENTITY • Raises motivation among employees • Inspires confidence in stakeholder groups • Acknowledges important role of customers • Acknowledges vital role of financial groups Peggy Simcic Brønn

  7. TYPES OF CORPORATE IDENTITY • Monolithic -- Shell, Philips, BMW • Endorsed -- GM, L’Oreal • Branded -- Unilever Peggy Simcic Brønn

  8. Corporate Image An image is the set of meanings by which an object is known and through which people describe, remember and relate to it. That is the result of the interaction of a person’s beliefs, ideas, feelings and impressions about an object. (Dowling, 1986) van Riel, p. 74

  9. Corporate Identity Names, Self-Representations Employee Image Customer Image Community Image Investor Image Corporate Reputation Corporate identity and reputation Fombrun, C. J., Reputation, Harvard Business School Press

  10. Reputational risk management cycle Opportunity Platform Corporate Citizenship Reputational Capital Corporate Performance Safety Net Fombrun, C. J. et al., “Opportunity Platforms and Safety Nets: Corporate Citizenship and Reputational Risk,” Business and Society Review, 105:1, 85-106.

  11. Managing the downside of reputational risk Community Threat of Exposure Media Threat of Illegitimacy Regulators Threat of Boycott Threat of Legal Action Activists Safety Net Threat to Value Threat of Misunderstanding Investors Customers Threat of Rogue Behavior Threat of Defection Employees Partners Fombrun, C. J. et al., “Opportunity Platforms and Safety Nets: Corporate Citizenship and Reputational Risk,” Business and Society Review, 105:1, 85-106.

  12. Managing the upside of reputational risk Community Promise of legitimacy Media Promise of favorable coverage Regulators Promise of advocacy Promise of legal action Opportunity Platform Activists Promise of value Promise of loyalty Investors Customers Promise of commitment Promise of collaboration Employees Partners Fombrun, C. J. et al., “Opportunity Platforms and Safety Nets: Corporate Citizenship and Reputational Risk,” Business and Society Review, 105:1, 85-106.

  13. Reputation is the most important commercial mechanism for conveying information to consumers. It is a distinctive capability that accrues competitive advantage to an organization. John Kay Foundations of Corporate Success

  14. CORPORATE IMAGE IS THE PERCEIVED SUM OF THE ENTIRE ORGANIZATION - ITS OBJECTIVES AND PLANS. IT ENCOMPASSES PRODUCTS, SERVICES, MANAGEMENT STYLE, COMMUNICATIONS ACTIVITIES AND ACTIONS AROUND THE WORLD. G.A. Marken Peggy Simcic Brønn

  15. WHY DO WE NEED TO CARE ABOUT IMAGE? Consumers are more sophisticated than ever before There is more distrust than ever regarding motives of big business There has been more changes in the last ten years than in the last 80 There is a clear relationship between a positive image and profitability Peggy Simcic Brønn

  16. Image is no longer solely the realm of marketing, but rather a strategic instrument of top management. De Soet (CEO Dutch KLM) When having to choose similar products, 9 out of 10 consumers base their decisions on the reputation of the company. Mackiewicz

  17. TODAY’S SITUATION • Quality and good service taken as given • Programs such as TQM and ISO9000 have worked • Organizations need new differentiators, new USP’s (unique selling propositions) • Advocacy advertising • Green advertising Peggy Simcic Brønn

  18. General promotion value Encourage favorable behavior towards organization Build sales Attract shareholders Attract and motivate employees/build morale Reduce cost of capital Aid in relations with community/ government Serve corporate objectives Create familiarity and favorability Create position in industry Can demand premium prices REASONS FOR IMAGE ‘MANAGEMENT’ Peggy Simcic Brønn

  19. IMAGE LEVELS • Product class • Brand • Company • Sector • Shop • Country • User Peggy Simcic Brønn

  20. Some Factors Controlling Company Image Reality of company* Communica- tions effort Newsworthiness of company Memory decay + + x Time - = Company Image * Including Diversity of Company van Riel, p. 95 Peggy Simcic Brønn

  21. Financial soundness Value as a long-term investment Use of corporate assets Innovativeness Quality of Management Ability to attract, develop and keep talented people Quality of products and services Community and environmental responsibility KEY ATTRIBUTES OF REPUTATION (Fortune) Peggy Simcic Brønn

  22. Products/Services • Quality • Satisfaction • Technology • Value • Selection • Management/Employees • Quality of Management • Quality of work conditions (physical and social) • Quality of strategies • Ethics/Community • Equal employment • Socially responsible • Protect jobs • Contributes to charity • Helps the community • Conserves energy • Environmentally conscience • Supports culture • Responsible citizen • Finances • Sound investment opportunity • Pays dividends • Reporting practices • Stock price • Diversified • Wise use of assets • Consistent growth

  23. Example of how different image aspects vary in importance to different groups. What are the most important things to know about a company to judge its reputation? Bus. General City Business Editors Public Investors Press (percentage) • Financial Performance 42 9 65 80 • Quality of Management 28 9 91 71 • Quality of Products/ Services 8 47 20 0 • Customer Services 6 18 0 20 Peggy Simcic Brønn

  24. America’s Most Admired Companies, Fortune 1999 The Top Ten Rank Company 1 General Electric 2 Microsoft 3 Dell Computer 4 Cisco Systems 5 Wal-Mart Stores 6 Southwest Airlines 7 Berkshire Hathaway 8 Intel 9 Home Depot 10 Lucent Technologies

  25. America’s Most Admired Companies, Fortune 1999 The Bottom Ten Rank Company 495 Humana 496 Revlon 497 Trans World Airlines 498 CKE Restaurants 499 CHS Electronics 500 Rite Aid 501 Trump Resorts 502 Fruit of the Loom 503 Amerco 504 Caremark Rx

  26. BARRIERS TO ACHIEVING ‘DESIRED’ IMAGE • “CEO disease” (refusal/inability to be reflective) • Mental models • If it’s not broke don’t fix it • Inability to read environment • Confusion regarding who’s job it is Peggy Simcic Brønn

  27. OPTIMAL - AN INTEGRATED EFFORT • Unified image • Data base management-driven integration • Integrated customer contact points • Stakeholder-based integration Peggy Simcic Brønn

  28. Goal: Credible Image • Believable message • Clearly stated • Continually and consistently • Through appropriate channels • At the appropriate level of understanding Peggy Simcic Brønn

  29. The Three I’s - Mission Oriented • Identity: Who we are • Image: What we are • Ideas: What we stand for and believe

  30. The co-orientation model Issue Organization’s definition and evaluation of an issue Stakeholder A’s definition andevaluation of an issue UNDERSTANDING AGREEMENT CONGRUENCY CONGRUENCY Organization’s perception of Stakeholder A’s views Stakeholder A’s perception of organization’s views ACCURACY McLeod, J. M. and Chaffee, S. H., Interpersonal Approaches to Communications Research, American Behavioral Scientist (1973)

  31. Openness Attention External Environment Clarity Internal Environment Company Trust Strength Acceptance Ensuring internal understanding and external acceptance Understanding Schultz, M., Ervolder, L., Hulten, J., ‘The Integration Between Corporate Culture, Identity and Image: The Emergence of a New Industry?, Working Paper, Copenhagen Business School (1997).

  32. Monitoring What you have The organization Audience Perceptions Corporate Identity Corporate Visuals How you intend to use it Corporate Identity: Era 1 -- Badging Source: Bamber Forsyth in White, J. and Mazur, L. Strategic Communications Management, Addison Wesley, London, 1996.

  33. Monitoring What you have Corporate Visuals The organization Audience Perceptions Corporate Identity How you intend to use it Corporate Communications Corporate Identity: Era 2 -- Visuals plus Communication Source: Bamber Forsyth in White and Mazur

  34. Monitoring What you have Corporate Behavior Process The organization Audience Perceptions Corporate Identity Corporate Communications How you intend to use it Vehicles Corporate Values Corporate Identity: Era 3 -- The integrated approach Source: Bamber Forsyth in White and Mazur

More Related