As marketing channels become increasingly fragmented, what of the tried and tested corporate event and its place within a promotional strategy?
As many executives now use webinars and conference calls for that direct, personal contact with potential and existing customers, it would be easy to jump to the wrong conclusion and think that corporate events have had their day. However, having important delegates under one roof, whether for a trade show or charity event, is still a valuable approach to customer relationship marketing. It’s not a case of the new, virtual versions taking the place of the real thing, rather how they can complement each other. Continue reading →
Despite the fact that the hot ways to enhance your brand involve new media, business branding basics are still in style. Branding success will depend on adapting to the rapidly evolving media environment and taking advantage of new opportunities to reach your target audience.
But, there are some branding constants that will remain critical for establishing and maintaining brand awareness with your target audience. Regardless of the medium chosen for distribution, you must: Continue reading →
Product branding is a well-known phenomenon in marketing. A brand is a promise to the customer that goes beyond the generic product, the technical and physical attributes. When selling a branded product the company promises that the consumer will achieve special qualities by using the product, different qualities than when using a similar non branded or different branded product. A typical message from the company is “when using this product you will be more attracted, become better looking and signal a higher social class“. By using the branded product the consumer can communicate his/her lifestyle or wanted lifestyle.
On the other side corporate branding refers to the practice of using a company’s name as a product brand name. It is an attempt to leverage corporate brand equity to create product brand recognition. It is a type of family branding or umbrella brand.
Corporate branding employs the same methodology and toolbox used in product branding, but it also elevates the approach a step further into the board room, where additional issues around stakeholder relations (shareholders, media, competitors, governments and many others) can help the corporation benefit from a strong and well-managed corporate branding strategy. Not surprisingly, a strong and comprehensive corporate branding strategy requires a high level of personal attention and commitment from the CEO and the senior management to become fully effective and meet the objectives.
Among the advantages of a corporate branding strategy we can count:
the corporate brand is the face of the business strategy, portraying what the corporation aims at doing and what it wants to be known for in the market place, is the overall umbrella for the corporations’ activities and encapsulates its vision, values, personality, positioning and image among many other dimensions.
corporate branding strategy creates simplicity; it stands on top of the brand portfolio as the ultimate identifier of the corporation.
a coporate branding strategy can drive some cost efficiencies that can often be achieved as opposed to a large multi-brand architecture where the corporate brand plays a smaller or insignificant role.
On the other side among main disadvantages of this strategy is that products may not be treated individually, which reduces the focus on the products’ unique characteristics or that the corporate name can become synonymous with a product category
Three different strategies can be approached for corporate branding:
Branded identity is when a company uses different brands for their products that function independent from each other and the company’s brand. The strength of this strategy is the flexibility. The company can build different brands in different marked segments and for different products. If a brand is involved in a scandal it will only damage that brand, and will not hurt the other brands of the company.
Endorsed brand identity is when an organisation has a group of products or companies that it endorses with a group name and a common identity. The strength of this approach lies in the relationship of the products/companies, they can benefit from the goodwill given to others with the same common identity.
Monolithic brand identity is when a company uses only one name and one visual style for all it products. The strength is the simplicity and the potential for growth. The weakness is that one happening; one scandal can cause severe damage even to big strong brands.
Even though is dealing with pharmaceutical industry branding, I spotted a very intersting article, over BrandWeek, that deals with how to manage your branding when your company, or even your whole industry is under fire, and has to face negative reactions to some aspects, whether from the public or the media.
Strategically, a shift is needed throughout the industry—from corporate brands to their agency partners—toward a better understanding of consumers. The industry must know how consumers truly feel (as patients, as caregivers and as family members), what they want, how they react and what drives them to action.
Well so far, is a little general, but here is a list with some practical strategies ideas that help: Continue reading →
In a world full of confusion and contradictory messages, effective identity and brand can be the reasons why a consumer chooses one product over another. Market and production departments often pull in opposite directions. The competitive power of most companies are decreased because their [tag]corporate identity[/tag] is insufficiently defined.
Considering the latestForrester Research study about online advertising the future is bright for the 21st century’s media giants, like Yahoo! or Google, and here are some excerpts from this study:
2005 growth in online advertising spending, represents a 23 percent increase from 2004, up to $14.7 billion and it’s estimated to $26 billion by 2010
This is not the return of “The Bubble”. The growth is coming from marketers having to make tough decisions about allocating scarce advertising dollars – in many cases, funding online channels from traditional channels. Back in 1999/2000, spending often came from exuberant spending, fueled by venture money.
It’s more than just about search. Search is great, it’s growing, but it’s not the whole story. In fact, I anticipate that search will become much more integrated into traditional brand advertising
Marketers will shift channels away from traditional channels to fund online marketing
With all these in mind, Fortune Magazine, published and interesting article on Yahoo’s Brilliant Solution, an in-depth analysis on Yahoo’s approach towards winning more and more of the online branding advertising dollars.
And in the scrum for online brand advertising—almost as large a market—Yahoo is poised to grab the biggest share. Its 181 million active registered users are probably the largest online clientele, which means Yahoo can tell advertisers it knows the habits of more users than any other portal—or any traditional media company.