CORPORATE IMAGE - WHAT IS IT? Identity Individual Interpretation Corporate Image $ = - REPUTATION is the opinion that others have of you.; GOOD, BAD, ETC.. (FAVORABLE, UNFAVORABLE) - one’s individuality - identified with - - synonymous - familiarity - familiarity and favorability - mix of reputation and identity Lundquist, O. S., Rønning, L., Sandberg, G., ‘Corporate Identity and Corporate Image, En litteraturstudie av begrepenes definisjoner, Diplomoppgave, Siviløkonomstudiet, BI (1997).

Corporate Image in Relation to Corporate Identity Behavior Corporate Identity Corporate Image Communication Symbolism Corporate Identity van Riel, p. 33.

CORPORATE IDENTITY The way in which an organization presents itself Symbols Communication Behavior Referred to as Corporate Identity (CI) Mix Personality manifested through this mix

CORPORATE IDENTITY MEDIA Product Price Logos Name Stationery Brochures Signs Visit cards Buildings Uniforms Sponsorship Packaging Work environment Figure or “character” IDENTITY - INDIVIDUALITY - SYNONYMOUS WITH ORGANIZATION. FAMILIARITY. NOTE INTERNATIONAL ISSUES. WALLY OLINS - A VETERAN IN CORPORATE IDENTITY - SAYS THAT IDENTITY HELPS PEOPLE FEEL THEY BELONG INTERNALLY - TO MAKE PEOPLE FEEL THEY SERVE A COMMON PURPOSE - COCA COLA EXTERNALLY - ‘LIKE ME BETTER’ . MARKETING. AN IMPROPER IDENTITY CAN CAUSE A BAD IMAGE. CAN’T BE PHYSICALLY FIT WITHOUT EXERCISING.

IMPORTANCE OF IDENTITY Raises motivation among employees Inspires confidence in stakeholder groups Acknowledges important role of customers Acknowledges vital role of financial groups

TYPES OF CORPORATE IDENTITY Monolithic -- Shell, Philips, BMW Endorsed -- GM, L’Oreal Branded -- Unilever

TYPES OF BRAND (IDENTITY) 1. MONOLITHIC i. Whole company uses one visual style. ii. The company can be recognized instantly. iii. Companies usually developed as a whole entity within a relatively narrow field. 7

TYPES OF BRAND (IDENTITY) 2. ENDORSED i. Subsidiary companies have their own style. ii. Parent company remains recognizable in the background. iii. Diversified companies. 8

TYPES OF BRAND (IDENTITY) 3. BRANDED Subsidiaries have their own style. Parent company is not recognizable. Brands appear to have no relation to each other or to parent company. POSITIVE ASPECT  Separation of the brand from the identity of the company limits the risk of product failure. NEGATIVE ASPECT  Brand cannot benefit from any favorable reputation which the parent company may enjoy. 9

Corporate Image An image is the set of meanings by which an object is known and through which people describe, remember and relate to it. That is the result of the interaction of a person’s beliefs, ideas, feelings and impressions about an object. (Dowling, 1986) van Riel, p. 74

Corporate identity and reputation Names, Self-Representations Customer Image Community Investor Employee Corporate Reputation Fombrun, C. J., Reputation, Harvard Business School Press