There are products, which people can touch and feel: soaps, watches, etc. Here, branding attempts to build a halo around the product; Services: airlines, hotels, mobile telephone operators, movie multiplexes, etc. What is real in all of these is the experience. It is not palpable, cannot be touched; but it is distinctive. Branding can embellish the experience of Service; and The most intangible is creating and embellishing a symbol, like a corporate brand. It's like a spirit, manifesting itself in distinct forms in different circumstances - like light - it cannot be touched or felt. `Experience' of light is really the reflection or image of an object. A corporate brand manifesting multiple product categories is a bit like that.
Corporate
brand is a product of millions of experiences a company
creates - with employees, vendors, investors, reporters,
communities, and customers - and the emotional feelings
these groups develop as a result. A strong corporate brand
creates, manages, and fulfills high expectations among its
many audiences. It does this by aligning the fundamentals
of the business-products, service, processes culture and
giving them a common rule book, a set of guidelines for
making decisions. Corporate branding can be described as
the process of creating, nurturing and sustaining a mutually
rewarding relationship between a company and its internal
and external stakeholders including managers and other employees
of the company, customers, investors, suppliers, corporate
partners, members of the local community, special interests
like activists. |