“A brand is more than a trademark. It is a trustmark. A brand is a covenant between the company and the consumer. A trusted brand is a genuine asset.” This quote is said to be from US brand consultant Larry Light that expresses two things: First, the intangible asset “brand” is of (great) value and second, the value is defined by the bond the brand creates between the consumer and the company. Both parties – company and customer – profit as the brand creates customer loyalty and facilitates consumers’ choice decision by reducing risk (Dall’Olmo Riley and de Chernatony 2000, p.140/141). A company’s brand value is the advantages a brand provides, such as being able to charge a premium and/or the mentioned customer loyalty. This added value is called brand equity (Aaker 1996, p.68).
We shall understand brands as Kapferer (1997, p.6) describe them: as a promise. “A brand is an impression perceived in a client's mind […]. It is the sum of all tangible and intangible elements, which makes the selection unique. A brand is […] all the attributes that come to the consumer's mind when he or she thinks about the brand”. Although brands and branding are often used as interchangeable concepts, branding – the activity – should in this essay be understood according to Keller’s
(2002, p.151) description: as activities to create a (strong) brand.
In this essay, the author explains the value and types of brands, the process of brand-building – for corporate and place brands –, the link of brands to corporate and place identity and the concept of a holistic brand. All is done with focus on the importance of (building) relationships with stakeholders in branding.
Inhaltsverzeichnis (Table of Contents)
- INTRODUCTION
- THE VALUE OF BRANDS.
- DIFFERENT TYPES OF BRANDS.
- CORPORATE AND PRODUCT BRANDS
- PLACE BRANDS.....
- BRAND BUILDING......
- BUILDING CORPORATE BRANDS
- BUILDING PLACE BRANDS
- SELF-AND OUTSIDE VIEWS OF BRANDS: ADJUSTING DISSONANT PERCEPTIONS ....
- CORPORATE IDENTITY AND PLACE IDENTITY.
- CORPORATE IDENTITY
- PLACE IDENTITY.
- A HOLISTIC APPROACH FOR CORPORATE AND PLACE BRANDS...
- RELATIONSHIP-BUILDING AND STAKEHOLDERS IN BRANDING...
- CONCLUSION.
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This essay explores the significance of building relationships with stakeholders in both corporate and place branding. It aims to demonstrate the value of brands, analyze different types of brands, and discuss the process of brand-building. The essay emphasizes the importance of a holistic approach to brand management and highlights the crucial role of stakeholder relationships in creating strong and sustainable brands.
- The value of brands and their impact on customer loyalty, decision-making, and risk reduction.
- The different types of brands, including product brands, corporate brands, and place brands.
- The process of building corporate and place brands, including the importance of aligning brand values with organizational values.
- The relationship between brands and corporate and place identity, including the need to manage perceptions from different stakeholders.
- The role of stakeholder relationships in branding and the importance of building trust and engagement.
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: The essay begins by defining brands as promises and emphasizes the importance of building trust between companies and consumers. It introduces the concept of brand equity and highlights the value of brands in creating customer loyalty and facilitating decision-making.
- The value of brands: This chapter explores the historical evolution of brand value and argues that brands are more than just logos and names. It uses the example of Coca Cola to illustrate the importance of brand building and its potential to generate significant return on investment.
- Different types of brands: This chapter discusses three main types of brands: product brands, corporate brands, and place brands. It provides examples of each and highlights the increasing complexity of brand management as one moves from product brands to place brands.
- Corporate and product brands: This chapter delves deeper into the specific characteristics of corporate and product brands. It contrasts their customer orientation, values, and life cycles, highlighting the importance of organizational values and multi-stakeholder engagement in corporate branding.
Schlüsselwörter (Keywords)
The main keywords and focus topics of this essay include: corporate branding, place branding, stakeholder relationships, brand value, brand equity, brand building, corporate identity, place identity, holistic branding, and trust.
- Citation du texte
- Master of Arts UZH Stefan Heini (Auteur), 2013, Building relationships with stakeholders in corporate branding, Munich, GRIN Verlag, https://www.grin.com/document/272043
