Uncovering the corporate brand's core values
Citation: Mats Urde (2009) Uncovering the corporate brand's core values.
Values related to a brand can be looked at from three viewpoints:
- Values related to the organisation.
- Values that summarise the brand.
- Values as they are perceived by customers
The term corporate brand core values is defined as "mindsets rooted within an organisation and the essential perceptions held by customers and non-customer stakeholders defining the identity of a brand."
From case studies of Volvo, IKEA, IBM, and Scanpump found several characteristics of core values:
- are rooted
- are built brick by brick
- are challenged
- support the promise
Core values can also be categorized as:
- True (internally rooted and perceived by customers over time)
- Aspirational (have a meaning internally, but are not perceived by customers)
- Potential (appreciated by the customers, but are not part of the corporate brand identity as defined and/or understood internally)
- Hollow (lack both internal foundation as well as appreciation and credibility as perceived by the customers)
How to avoid hollow core values:
- Stop: hollow (per above) values should be first to be weeded out
- Continue: process of uncovering the corporate brand’s track record may confirm true core values; nevertheless, they must not be taken for granted.
- Start: Values perceived by customers (potential) or desired by management (aspirational) could be cultivated to become true core values