Corporate branding means using the name of the company to create product brand recognition. It is an important marketing strategy to use goodwill of consumers for marketing new products. By creating a brand the company cultivates loyalty among the customers, and customers are more likely to use the brand which has a positive image in their minds.
Meaning of Corporate Branding
A company tries to create a particular image about a brand by using a particular logo, brand name, certain color scheme, etc. By using the same brand name for all its products, it makes it easier for consumers to recognize its brand and associate various products with it. Let’s take the example for Cadburys. Its chocolates are world famous, and this brand is well established. Now it uses this brand name in various new products it launches so that people will recognize the brand and therefore use these products. Even with their products like drinking chocolate or crème egg, their brand name is prominently displayed. Cadbury dairy milk fans will be tempted to buy their crème eggs as well.
Helps in marketing
When you have established a brand, you can plan and target your client base for your various products. Moreover, you will also have some idea about color scheme, imagery, and language to be used in your marketing materials, such as printed materials and social media. Strong brand will help in connecting with people more easily. When people know and recognize your brand, they will spend more time reading and receiving your message, and researching your products. This will help you in marketing your new products as well.
Connecting emotionally to cultivate loyalty
Corporate branding helps in personal identification with the brand. Brand identification makes you stay in people’s minds and hearts, and it is established that they will keep coming back to your brand. Good experience from your product helps in building customer commitment, and the customer will choose your product over your competitor’s product. People will trust your product.
Branding helps new and smaller companies as well
If you think that brand names are good only for large company with wide variety of products and services, then it is not true. It is useful for business of all sizes. If you cultivate a good name of your product or service initially, corporate branding will help you in the long run. When you expand your business, you can take advantage of goodwill which you had created initially.