Corporate branding is a wider concept than branding for products, since it is more focused on the mindset and character that a company possesses and its reputation within the market. It helps to identify the unique selling point (USP) of a business and distinguishes it from competitors in the market.
Corporate Branding offers a broad range of benefits including setting businesses apart from the competitors, improving customer relations, building loyalty and trust with consumers and reducing the need for product marketing. It permits the expansion of the brand and recognition of products over time, since customers identify them with a familiar name.
A well-defined brand is important for any company. It can be used for marketing, public relations, and recruitment. A strong corporate brand requires a lot of thought and strategy to ensure that the company message is communicated in a professional manner.
It can be difficult to develop a corporate identity for both large and small businesses. While ad agencies on Madison Avenue may have you believe that corporate branding peaks in their smoky, martini-saturated boardrooms www.marketcorporate.com/corporate-branding-and-the-work-of-the-chief-marketing-leaders/ social media and the internet has brought with it a host of new challenges that require a fresh thinking. Many companies are integrating corporate branding with marketing, communication, and even social and environmental responsibility initiatives.