Branding’s use as a modern business tool can be traced back to the end of the
nineteenth century (Low and Fullerton 1994). Several substantive reviews of these
developments have appeared in the academic press in recent years (see for example
Low and Fullerton 1994; de Chernatony and Dall’Olmo Riley 1998; Louro and
Cunha 2001).
Branding theory, which first emerged in the 1950s, was initially developed in the
context of consumer products. However, increasing understanding of branding and
the associated addition of new concepts has followed the extension of branding
practice beyond its consumer product foundations. Thus, during the 1990s branding
was increasingly applied to brand-owning corporations in addition to their products.
While much of the academic work in this area has so far been conceptual, it is clear
that corporate brands are different from product brands. First, they frequently play
an overarching role with respect to a set of sub-brands. Secondly, responsibility for
their management rests with the senior management team. Thirdly, they reflect the
organisational culture of their owners. Fourthly, they are required to manage a wide
range of stakeholders, not just consumers. Finally, in order to grow, they are
increasingly required to work in partnership with other corporations.