It's the marketing buzzword of the '90s. Companies worldwide are expending tremendous resources on brand management efforts. Some are successful, some fail, and many are struggling just to understand the concept of branding and what it means for their companies. It's more than a logo or catchy slogan. At its essence, a brand is the combined images, attitudes, beliefs and associations evoked by a product or company name.
Some brands are product based.
Other brands are company based. As corporate reputation becomes increasingly important as a competitive differentiator, a successful brand creates a sustainable identity among stakeholders, building long-term relationships. Companies that have achieved a relationship with their stakeholders based on reputation will find increased customer loyalty and trust. It's because of this need to develop an ongoing relationship with stakeholders that public relations becomes a critical need. To better understand the role public relations plays in branding, it is important to look at how a brand is created in the minds of stakeholders.