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Learn the steps to create a brand, understand the importance of a company's brand promise, and explore factors impacting it. Discover the significance of corporate image and how employees can reinforce it.
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2.07 Reinforce company’s image to exhibit the company’s brand promise
What is a brand? • A brand is a name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products.
Steps to brand creation Brainstorm ideas Set objectives Brand acceptance across cultures Test Marketing Legal issues Research names & Web addresses Choose the best brand name for product
What is Brand Promise? • Businesses want to control perceptions, thoughts, and feelings about them. • It provides guidance to employees as they interact with customers. • A brand must promise a differentiated benefit to the target customer.
WHAT IS THE IMPORTANCE OF A COMPANY’S BRAND PROMISE? • A company’s brand promise establishes a base line of customer service to be expected. • It reflects the core values of the company and develops a long term business relationship with customers.
WHAT ARE FACTORS IMPACTING A COMPANY’S BRAND PROMISE? • Brand Champion (CEO or manager) is the one that analyzes the business’s strengths. • 100% commitment to core values starts at the top. • Customers need to know they are the first priority.
BRAND PROMISE (CONTINUED) • What does your business do better than anyone else? • What does your business have, done, or provided that your competitors don’t? • What makes your business unique?
What is Company Image? • A corporate image is the perception the public holds about a particular business. • Companies invest time and resources in an effort to influence the opinion consumers hold about the business and its products.
COMPANY IMAGE…(CONTINUED) • Images are based on different characteristics such as: quality of products, solid and long positive reputation of the company, highly trained sales team, lowest prices in town, integrity of staff, long standing positive community relations, and customer service.
CORPORATE IMAGE • The basic way of shaping a corporate image is establishing and maintaining positive relationships with the public. • This effort usually begins by offering products that successfully meet the needs of customers.
Factors That Affect A Company’s Image Who affects the corporate image: Interaction with consumers, the media, journalists, labor unions, industrial associations, and environmental organizations.
Factors That Affect A Company’s Image (Cont.) As consumers come to know and trust the product lines offered by the business, they share their opinions with others and makes it easier to establish a favorable perception in the minds of more people. The company's top management establishes a vision and a strategy, and molds the overall corporate culture.
WHY IS COMPANY IMAGE IMPORTANT? • Correlates directly to the success of the company and its future growth. • Companies with strong corporate images, such as Sony and Nike have an advantage in the market place because their names add value to their products and reduces uncertainty in the eyes of distributors, retailers and consumers.
HOW CAN EMPLOYEES REINFORCE COMPANY IMAGE? • Should be trained and motivated to project a positive image. • Trainingemployees on answering telephones, how daily decisions are made, establishing dress code requirements shows that companies understand how important communicating a positive image is to the company’s success.
HOW CAN EMPLOYEES REINFORCE COMPANY IMAGE? (Cont) • Employees connect brand values with customers through touch points to make brands come alive. • Employees reflect brand values and help shape them.
