The core value compass: visually evaluating the goodness of brands that do good

Yoganathan, Vignesh; McLeay, Fraser; Osburg, Victoria-Sophie; Hart, David

Abstract

Brands that do good for the society as well as for themselves are motivated by the core values they espouse, which necessitates a better understanding of what qualities a true core value must possess. The inherent tension within brands that do good, between commercial interests to increase competitiveness, and societal interests that are closely linked to the brand's authenticity, has largely been overlooked. Hence, we develop and demonstrate a relatively easy-to-apply visual tool for evaluating core values based on a set of 'goodness' criteria derived from extant theory. The Core Value Compass adopts a paradox-based, evolutionary perspective by incorporating the inherent tensions within true core values, and classifying them according to their temporal orientation. Thus, we contribute towards a better understanding of underlying tensions of core values and provide a practical tool that paves the way for improved, and indeed ethical, corporate branding strategies. Furthermore, we demonstrate the Compass' application using the case of a public sector brand, which is a quintessential brand that does good. Therefore, we also contribute to the nascent theoretical discourse on public sector branding. This paper therefore adds to the notable attempts to bridge the gap between theory and practice in core values-based corporate branding.

Citation

Yoganathan, V., McLeay, F., Osburg, V.-S., & Hart, D. (2018). The core value compass: visually evaluating the goodness of brands that do good. Journal of Brand Management, 25(1), 68-83. https://doi.org/10.1057/s41262-017-0074-0

• Journal Article Type: Article
• Acceptance Date: May 12, 2017
• Online Publication Date: Sep 11, 2017
• Publication Date: 2018-01
• Deposit Date: May 22, 2017
• Publicly Available Date: Sep 13, 2018
• Journal: Journal of brand management
• Print ISSN: 1350-231X
• Publisher: Palgrave Macmillan
• Peer Reviewed: Not Peer Reviewed
• Volume: 25
• Issue: 1
• Pages: 68-83
• DOI: https://doi.org/10.1057/s41262-017-0074-0
• Keywords: Core-value-compass; Corporate-branding; Core-value-tensions; Branding-framework; Brand-values
• Public URL: https://hull-repository.worktribe.com/output/451515
• Publisher URL: http://www.springer.com/-/0/AV59WLtR2Z5C3c7793jy
• Additional Information: This is the accepted manuscript of an article published in Journal of brand management, 2018. The version of record is available at the DOI link in this record.
• Contract Date: May 22, 2017