Corporate Indentity
Corporate Identity Introduction Identity is the currency of business, in good economic times and bad. Many organizations are beginning to recognize that to build market share and shareholder value, they need to be credible competitors - and to do that, they need to increase their corporate value. Corporate identity does more than just identify a business or organization. ... Corporate identity is a powerful strategic weapon, one that promotes an understanding of the corporate purpose and differentiates the company in an attractive and influential way. A well-orchestrated corporate identity system is an invaluable communications tool in todays competitive environment. ... html Corporate Identity goes a lot further than just being a logo or symbol for a company. A good Corporate Identity will encompass all aspects of an organizations activities and should be representative of the corporate spirit of the organisation. It is the heart of the corporate body. ... html For a company to present themselves in the most favourable way, firms develop a corporate identity programme, which makes sure that all forms of external communication are coordinated and presented in the same way. (Leslie & Malcolm 1998) However there are many reasons to why corporate identity has been developed as strategic management tool for many organisations. Below is a list of reason of why: o Due to increased competition many companies have to differentiate themselves o Shortening of product life-cycles o (De) merger and diversification/ consolidation activities o High rates of media costs inflation o Redefinition of marketing in the terms of developing/maintaining relationships o There has been an increased recognition of integrated marketing communication o Finer approaches to segmentation o Increased incidence of crisis situations impacting organisations (Nigel & Chris 1997) Title: Towards a framework for managing corporate identity Author(s): Nigel Markwick; Chris Fill Journal: European Journal of Marketing Year: 1997 Volume: 31 Number: 5 Page: 396 – 409 Publisher: Emerald Group Publishing Limited Corporate Identity as a strategic management tool What is corporate identity and image?