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Corporate marketing and identity: reflections and directions
Edited by John M.T. Balmer and Stephen A. Greyser
Background
All established corporate brands have a track record, which may vary in length and continuity. All established corporate brands have core values making up the backbone of their brand track record - whether those values are defined or not. The core values may also vary in number, and in the degree to which they are rooted internally and to what extent they are perceived by the outside world. Uncovering a corporate brand's core values and track record is the key question in this paper. Knowing "what values we stand for" and "what values customers over time have come to appreciate us for" is vital for the management of brands. In principle, I believe that a corporate brand cannot be stronger externally than it is internally. This is perhaps the strongest argument as to why the uncovering and defining of a corporate brand's track record and core values is important. The values rooted in the organisation need to resonate with the values perceived and appreciated by the customers over time, and vice versa. "True" brand core values then become a solid foundation and stand for continuity in the process of managing and building corporate brands. Conversely "hollow" values become quite the opposite.
The ability to create, develop and protect brands as strategic resources is a competence and a mindset of the organisation. When the identity of the brand is a hub for the strategy process, the organisation becomes more highly brand oriented ([74], [75], [76] Urde, 1997, 1999, 2003; [58] Melin, 1997; [31] Hankinson, 2002; [5] Baumgarth, 2007; [83] Wong and Merrilees, 2008). Uncovering core values and understanding the dynamics of a track record are steps towards achieving this mindset.
I first recognised the relationship between corporate brand core values and a track record at Volvo ([74], [76] Urde, 1997, 2003). The three brand core values of Volvo - quality, safety, and environment - guided the internal and external brand building efforts. Another important source was our studies on monarchies as corporate brands ([10] Balmer et al. , 2006; [9] Balmer and Greyser, 2006; [27] Greyser et al. , 2006), which gave unexpected and new perspectives concerning brand...