Core value‐based corporate brand building

The aim of this article is to introduce a conceptual framework for a corporate brand building process based on core values. The nature, role, and function of core values are considered a central part of the value foundation of a corporate brand. In line with this reasoning, a distinction is also made between three groups of values: organisational values, core values, and added values. This article is based on research into the brand building efforts of more than 50 major companies over a period of ten years. The Volvo case is used as an illustration and places special emphasis on internal processes. The role of the core values in the ten steps of the framework is explored and illustrated. The work is based on first‐hand experiences, interviews, and unique internal strategy documents from Volvo. The discussion defines core values as overarching concepts that summarise the identity of the corporate brand and as guiding lights for the brand building process. Another conclusion drawn from the article is that core values are vital for continuity, consistency and credibility in a value‐creating process. The theoretical and practical implications of using core values as a unifying common thread are discussed in relation to the paradigm of brand orientation.