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Corporate : Brands
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Corporate advertising is a form of advertising with its focus not on a particular product or product range but on the corporation or organization itself. It is intended to establish a favorable attitude towards a company as a whole. It is more of a public relations approach and a number of highly regarded and successful firms use corporate advertising to affect consumers' attitudes and beliefs about their firms and thus enhance the image of their firms.
The main objective of corporate advertising is to build a firm's corporate image, reputation, and name-awareness among the general public or within an industry. The identity and image of a company are the building blocks of its reputation. Identity is a company's assertion of its individuality and embodies the company's vision and its reason for being there. The image of a company on the other hand is the distinct memorable impression in the minds of the people as they interact with the company. Together, identity and image raise the profile of a company, its reputation, its significance beyond commercialism and profit-making.
The objectives of corporate advertising are: o To build the image of a firm among customers, shareholders, financial community and the general public. o To boost employee morale or attract new employees. o To communicate an organization's views on social, political or environmental issues. o To better position the firm's products against competition, particularly foreign competitors that are often perceived to be of higher quality. o To play a role in the overall integrated marketing communications of an organization as support for main product or service advertising.
There are three basic types of Corporate advertising that dominate the campaigns run by organizations:
o Image advertising: The majority of corporate advertising efforts focus on enhancing the overall image of a firm among important constitutions, typically customers, employees and the general public. Recruitment advertising comes under this category. Wills Lifestyle's association with the fashion week is an example of image advertising.
o Advocacy advertising: This attempts to establish an organization's position on important social, political or environmental issues. Almost all nonprofit groups use some form of advocacy advertising to influence the public's attitude toward a particular issue. Advocacy ads are a form of lobbying to influence public opinion.
o Cause-related advertising: This type of advertising features the firm's affiliation with a social cause. The association of the firm with a worthy cause enhances the image of the firm in the mind of the consumer. Star TV network rooting for the education of the girl child. Another example of a cause promotion message would be Procter & Gamble's Project Drishti where the company donated a part of its earnings from each sanitary napkin sold, to the National Association for the Blind for sight restoring operations for blind adolescent girls.
In addition to these three basic types of advertising corporates are also involved in advertising their diversification and take over bids. Crisis advertising is urgent advertising that companies resort to in times of crisis. Another type of advertising that comes under the umbrella of corporate advertising is financial advertising. Financial advertising includes share issues, annual reports and public announcements.
A strong corporate brand can signal reliability, expertise, or commitment to a particular idea/ideology. It brings a sense of reliability to the company's individual products and brands. To be truly labeled corporate the advert must deal with the company's policies, functions, facilities, objectives, ideas and standards, it should build favorable opinion about the company's management, technology skill, social contributions and should enhance the financial structure or investment qualities of the company or promote it as a good place to work.
Corporate advertising thus endeavors to promote activities by which oral as well as visual messages are directed towards the public on a continuous basis. The purpose is to inform and influence the public either to consume products or services or to act or be inclined favorably towards ideas, organizations or personalities featured in the campaign.
Some of the brands that invest large budgets on corporate advertising include Whirlpool, Britannia, Samsung, Allianz, Amway, Sahara India, ONGC, IBM, Honda motor company limited, Hero cycle and Suzuki Motorcycle India Pvt. Ltd. The sub categories having major share in corporate advertising campaigns are computer, NBFCs, Petroleum products, banking and financial institutions.
In terms of media use firms have found both the magazine and television media to be well suited to corporate advertising efforts. Corporate adverts appearing in magazines have the advantage of being able to target particular constituent groups with the image or issue related messages. Magazines also provide the space for lengthy copy which is often needed to achieve corporate advertising objectives.
Corporates advertise on general entertainment channels and regional entertainment channels. Advertisers focus on general and business newspapers and magazines for Corporate advertising.