In 2021, Apple was the most valuable consumer technology brand worldwide, with a brand value of more than 947 billion U.S. dollars. It was also the most valuable brand across all industries. Technology titans hold on to their titles(Consumer) technology brands continue to dominate the global brand rankings. Based on the latest reports, Apple reclaimed its spot as the most valuable brand worldwide in 2022 after trailing behind Amazon in the previous year. Not only that, but Apple also became the first company from any industry to reach a market cap of three trillion U.S. dollars. This growth was largely fueled by the constant innovation and diversification of its products and services. Similar reasoning can be given for Google (categorized in the media & entertainment sector), which ranked third on the list and boosted its brand value by nearly 80 percent annually. The hotbeds of the hottest brandsEven though brand leaders come from a mix of different industries, many share the same geographical roots. In 2022, the lion’s share of the world’s 100 most valuable brands was headquartered in the United States, and in Silicon Valley, in particular. Other than that, Chinese companies such as Tencent and Alibaba were the only non-U.S.-based brands to make the top 10 that year. The two media and e-commerce conglomerates currently top the list of most valuable Asian brands worldwide, followed by liquor brand Moutai. Reputation can be defined as: - The opinions that are generally held about someone or something (In general, reputation is a combination of views and impressions held by people) Corporate reputation is concerned with... The overall estimation in which the organisation is held by its constituents A reputation is a... Snapshot that reconciles the multiple images of an organisation held by all its constituents. It signals the overall attractiveness of the company to its employees, consumers, investors and communities. Four elements that make a good reputation: - Credibility Why do organisational reputations matter? - To differentiate from their competitors Three main concepts outlining the book: 1. Corporate reputation Definitions of reputation: 1. Corporate reputation comprises social image, financial image, product image and recruitment image 2. Reputation is the overall estimation in which a company is held by its constituents 3. Reputation is an index of a company's worth or value 4. Corporate reputation is concerned with the overall estimation in which an organisation is held Why does reputation matter? 1. Reputations provides competitive advantage Three levels of information processing: - Primary level: personal experiences Average level of communication - aggregation: - Individual level: individuals within the firm confirm reputation Internet is rapidly changing the playing field for reputations due to: - Privacy settings Three criteria determining the identity of the organisation: - Centrality: sharing characteristics by employees The AC2ID test - five identities: - Actual Building blocks of corporate reputation: Corporate personality --> Corporate personality/characters: Refers
to the core nature of an organisation, existing of: Corporate identity: - How an organisation wants to be perceived Corporate image: The perception that different audiences have of an organisation. Corporate reputation: Collective view of all stakeholders of an organisation (including corporate identity and image)
Types of corporate communications and their purpose: - Management communications Enables linkages between the building blocks. Managing corporate reputation is about minimising the gaps between... - Corporate identity and corporate image Main influences on corporate reputation: 1. External forces: uncontrollable, PESTEL Criteria that influence corporate reputation:
1. Product/service quality (including value) Who is responsible for corporate reputation? - The CEO is linked with the reputation of the firm and is in the public eye Definition of corporate culture: The culture existing within a certain organisation/business (psychology, attitudes, beliefs, experiences, values of an organisation) Corporate culture can be distinguished by three levels: - Artefacts and behaviours: existing of objects, words and deeds. Visible, above the surface that can be observed. Tangible and identifiable elements of an organisation. - Espoused values: existing organisation's belief system, below the water surface - Assumptions: reflect the shared values within the organisation. Also below the water surface. Types of Corporate Cultures (on the x and y axis):
- Sociability: amount of sincere friendliness and high level of communication Types of Corporate Cultures: - Networked Stages of reputational audit: 1. Diagnosis of the current state 2. Designing the future state 3. Managing the transition The broad indicators/measures of corporate reputation: 1. Physical Also: ROI, shareholder value, MRI Reputational Quotient by Harris & Formbrun (six dimensions): - Emotional appeal Reputation Institute's RepTrak (7 dimensions): Leadership Reputation Institute's RepTrak (Reputation is influenced by): - Stakeholders' experiences Measures of corporate reputation fall into two main areas: 1. Cognitive measures (rational) Levels of brand meaning: Attributes Classic branding as consisting of four types: 1. Unbranded - e.g. commodity goods Different definitions of a brand: Legal instrument Brand identity prism: Source / receiver
Internalisation: Porter and Kramer outline four reasons why companies should engage in CSR: - Moral obligation Griffin (2008) claims there are two reasons for the use of CSR: - To defend themselves from future CSR issues
and possible lawsuits The triple bottom line: People, planet, profit Ind (1997) states that there are three core attributes that define the corporate brand: Intangibility Corporate branding involves P's beyond the marketing mix: Philosophy Balmer & Greyser (2007) six C's of corporate marketing: Character The services marketing mix: marketing mix + physical evidence, process and people Differences between product and corporate branding: - Product brands are focused on consumer needs Strategic problems - gaps in the corporate brand: Vision (image vision gap) Pros of adopting a corporate branding strategy: - The corporate brand creates a clear sense of internal coherence and simplifies internal co-operations Cons of adopting a corporate branding strategy: - Large sums were invested in
order to build the product brands. The counter argument is that the over to corporate branding is just a development in strategic thinking ISO 10688 standard benchmark - the primary criteria for brand valuation: Legal: Legal protection of a brand in an area Financial: Market approach, cost approach, income approach Behavioural decision: Market size, trends and contribution the brand makes to the purchase Brand equity manifests itself in: - Increased market share Five dimensions of brand equity: Uniqueness: 1. Awareness (rational) Two ways of measuring brands: 1. Quantitative (financial) driven Interbrand consultancy says its methodology has three key aspects that contribute to the overall assessment of brands as a business asset: 1. Financial performance Millward Brown/WPP BrandZ - three steps in the brand valuation process: Branded earnings - The intangible element, the proportion of the company's earnings generated "under the banner of the brand", e.g. company and analyst reports, industry studies and revenue estimates. Branded contribution - Amount of branded earnings generated by bonds with the customers Brand multiple - What is the growth potential of the brand-driven earnings? Financial projections and consumer data are analysed. Brand value = Brand earnings x brand contribution x brand multiple Y&R's Brand Asset Valuator - four dimensions: 1. Differentiation (Uniqueness of brand) Difficulties when measuring brands: - Methods not available for independent analysis What is Harris Interactive's EquiTrend? Equitrend is a "snapshot" evaluation of engagement with a brand Harris Interactive's Equitrend measures brand engagement in four areas: - Equity- a composite of familiarity, quality and purchase consideration (Behaviour, advocacy and trust are also measured by Harris) The firm Corebrand tracks corporate brands across the world, and measures them through the "Brand Power" measurement. What do they measure? Familiarity Aaker's dimensions of a brand's personality: - Sincerity (down to earth, honest, wholesome, cheerful) The Big 5 dimensions of human beings' personalities: 1. Open to experience Problems of third sector branding (non-profit organisations): - Many non-profit organisations have been slow to recognise the benefits of branding - Non-profit organisations are more complex to manage due to the diverse nature of stakeholders The Edelman Trust Barometer shows: Average trust in four major areas across nations: - Business Keller (2008) notes five potential problems with celebrity brands: - The celebrity package (reputation and lifestyle) may not resonate with the product's personality and image - Celebrities may endorse an abundance of products, reducing their worth as an endorser - The celebrity may outshine (in performance or stature) the product, with the celebrity being more memorable than the product - Consumers may be cynical as to the celebrity's ulterior motives for endorsing a brand - Celebrities are only human and are thus liable to lapses in judgement. Allegations of impropriety, whether proven or not, can embarrass the brand associated with them Dimensions of a retro brand: Allegory (brand story) The two primary roles of corporate communication: 1. Influence stakeholders' view on the organisation Three different corporate communication functions: 1. Management communications Three levels of organisational communications: 1. Primary - through direct consumer experience (unofficial and unplanned) The activities and tasks that corporate communications are expected to accomplish can be considered at two levels: Level 1: Functional outcomes Functional outcomes (level 1) that corporate communications should deliver: - Linkages Transitional outcomes (level 2) that corporate communications should deliver: - Exploring: stabilise the environment Three common corporate communication activities: - Consistent messaging Two types of integrated corporate communications: - Integrated marketing communication (IMC) (Integrated corporate communication) Advantages of an integrated approach: - More control over communications Features of integrated corporate communication: - Objectives (consistent with and integral to the organisation's goals) Communication climate refers to: The internal atmosphere concerning the way in which information is exchanged Can be open (information is exchanged freely and without constraint) or closed (information moves through established formalised processes, often hierarchies) What determines the successful or effective use of corporate communication? - Form (should be suited to the task or expectation of audiences) Elements of corporate credibility: Expertise Reasons for corporate re-branding: - Structural and ownership (merger, acquisition and divestiture) - Marketplace realignment (previous poor performance, ethical issues or severe media comment) - Changed internal dynamics (the current image has become outdated or stakeholders misunderstand what the organisation is or what is it trying to achieve) Corporate identity mix: - Symbolism (graphic elements are used to communicate the identity of an organisation) Five main positioning themes that can be developed: 1. Functional (rational info and based on a claim not used by a competitor) Corporate storytelling into four categories: 1. Myths and origins (recall how a company started and what its principles are) Three codes of conduct: - Compliance codes (what's not permitted and to provide guidance) - Corporate codes (inform stakeholders about corporate commitment, values and objectives) - Management philosophy statements (formal announcements about the way the company/CEO wants the business to develop and the approach that will be taken) Dimensions of corporate responsibility messages: 1. Accuracy (provide accurate info) Key consumer perceptions of CSR: - Human responsibility The use of symbols in developing corporate reputation, 5 key dimensions: - Visibility: Logos, signage, names Mainstream tools to deliver corporate communication? Corporate advertising Successful corporate advertising campaigns are characterised by two dimensions: Professional campaigns: are distinctive, unique and credible, target particular audiences, offer a clear promise, and appeal to the organisation's own employees. Creativity based campaigns: are striking, authentic, original, surprising, humorous and contemporary. Legitimacy strategies: Improvement Key opportunities concerning sponsorship? 1. Build awareness Two types of commercial activities for sponsors: Function based sponsor Dimensions of sponsorship interactions: F-match: high in functional congruence but low in image congruence Match: high in both functional and image congruence No-match: low in both functional and image congruence I-match: low in functional congruence but high in image congruence Four PR strategies are: Expansive: followed during periods of growth Defensive: needed in times of crisis Creative: use of digital technologies to deliver the corporate identity in novel/interesting way Adaptive: used when an organisation experiences considerable change Three main forms of corporate political communication strategies: 1. Providing information, knowledge and expertise 2. The provision of financial support 3. Constituency-building - concerns the creation of local support for specific public policy solutions and then creating and applying pressure to government agencies to favour these solutions Lobbying: Persuasive communication designed to influence policymakers Dimensions in the internal communication matrix: 1. Internal line management communication (employees' roles, personal impact) 2. Internal team peer communication (team info, task discussions e.g.) 3. Internal project peer communication (project info, project issues and discussions e.g.) 4. Internal corporate communication (organisation issues, goals developments, initiatives, activities e.g.) A range of activities designed to provide bloggers, journalists, editors and other media influential with information, by organising... Press releases/conferences Four categories of stakeholders, based on level of importance and supporting/opposing the organisation's position on the issue: 1. Problematic stakeholders: oppose but little power 2. Antagonistic stakeholders: oppose and have power (are important) 3. Low-priority stakeholders: support but little power 4. Supporter stakeholders: support and have power (are important) Four strategic responses to issues and crisis management: 1. Silence strategy (no threat, just being aware, low attention) Roles assumed by stakeholders during a crisis: 1. Rescuer Three crisis phases: 1. Pre-impact phase (scanning & planning) Managing stakeholders' images; - Simple denial - Evasion of responsibility (provocation, defeasibility, accident, good intentions) - Reducing offensiveness (the act was of minor significance/reduce the impact of the accuser) - Corrective action (putting right what was damaged and taking steps to avoid a repeat occurrence) - Mortification (an apology or statement of regret for causing the act that gave offence) Three types of crisis clusters: - Victim cluster (the organisation is seen as a victim of the crisis. There is only a mild reputational threat. Natural disasters, rumours, workplace violence etc.) - Accident cluster (Threat to reputational status is moderate. E.g. stakeholder challenges to the operations, technical errors resulting in product defect and recall) - Preventable cluster (the organisation deliberately placed people at risk, took inappropriate actions or violated regulations, and caused a strong threat to the reputation. E.g. human-error accidents, and product harm/defects, deception, misconduct and actions that lead to injury) Best practise crisis communication: 1. Upload traditional tactics to the website The 9 elements of the corporate brand identity matrix Value proposition Three layers of the corporate brand identity matrix: - Internally oriented elements at the bottom Mapping the elements; guidelines to follow when answering questions related to the CBIM: 1. Be concise
Use the corporate brand identity to: - Strengthen the parent brand's identity 4 forces/themes in the CBIM: Diagonally: Competition and Strategy Horizontally: Communications Vertically: Interaction The reputation factors surrounding the CBIRM: Trustworthiness (Greyser, 2009) Sources of reputational trouble: 1. Product failure Four key areas that organisations should examine to analyse an emerging issue that may threaten the brand's reputation: 1. The brand elements (Greyser, 2009) Four contexts of authenticity: 1. Talking authentic (communications) (Greyser, 2009) Lessons learned concerning corporate brand reputation and crisis management? 1. Understand the organisation's brand
essence and what could threaten it (Kotter, 1995) Eight steps to transforming your organisation: 1. Establishing a
sense of urgency (Augustine, 1996) Six stages of crisis management: 1. Avoiding the crisis Message framing: Enables selected materials, perhaps facts, values or beliefs, to become salient factors used by stakeholders in their decision making The core of the RepTrak consists of: Esteem There are three layers within networks: Actors The "strategy dimension" of the CBIM consists of: Mission & vision The "competition dimension" of the CBIM consists of: Value
proposition The "communication dimension" of the CBIM consists of: Expression The "interaction dimension" of the CBIM consists of: Relationships Questions such as "Who are we?", "What do we stand for?", "What is our core purpose?", and "What does it mean to be involved in this company?" concern: Identity and identification Questions that Greyser (2009) ask in a crisis: - Is the crisis from the inside or outside? Augustine (1996) thinks that one should "quote" in a crisis: "Tell the truth and tell it fast" What did Volkswagen do after their emissions crisis? - Went through with their product launches anyway, but focused on e-mobility instead Results of the VW emission crisis: - Today, they have a "speak up" culture What is a brand (according to Mats): A brand is a promise. A strong brand is one with a clear positioning and an earned reputation A brand oriented approach: - Inside-out A market oriented approach: - Outside-in The brand building process: 1. Identity & position and
the two arrows below (covering all three steps): The "hand" framework by P&G: Catches attention The elements of brand heritage (brand stewardship in the middle): Track
record Corporate character scale - review the company as a human being: - Agreeableness (warmth, empathy)
Input and output of the strategic brand management process: Input: Business model/strategy Principal categories for the use of corporate communication: Strategic events |