Corporate brand by any measure is very important to contemporary organisations. Corporate brand has become a valuable asset for a company, which some times have value beyond the book value.
To answer the question stated above it is important to explain what a corporate brand is. It is then also important to look into the issue how a corporate brand is beneficial to an organisation. What kind of financial benefit it can give to an organisation and to what extent it helps organisations to gain competitive advantages over its competitors.
There are several definitions of corporate brand presented by different authors and scholars. Some of the defamations are as follow:
David A. Aaker defined corporate brand as “As the brand that defines the organisation that deliver and stand behind the offering, the corporate is defined primarily by organisational associations. In particular, a corporate brand will potentially have a rich heritage, assets and capabilities, people, values and priorities, a local or global frame of reference, and a formance record.”
(Brand portfolio strategy by David A. Aaker, California management review vol46 no3 spring 2004.)
According to Balmer (2003) the corporate brand is seen as a sixth identity type referred to as the covenanted identity, which is viewed as independent and distinct. Balmer (2001) developed the mnemonic C2ITE (Cultural, intricate, tangible, ethereal and commitment), this reflects the corporate brands unique attributes and helps understand key characteristics of the corporate brand.
While Lawer and Knox (2004) state that a corporate brand is a way to conceive, manage and communicate corporate brand values in order to guide managerial decisions, actions and normative firm behaviour. It can then state that brand is generally the name of a product or mark of ownership.
So being able to express its self truly and openly and then communicate the message to its consumers clearly.
“The corporate branding philosophy, at it’s core, represents an explicit covenant between organisations and it’s key stakeholder groups, including customers” (Balmer & Greyser, 2003)
Corporate branding can be defined as “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.”
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