The brand values are a set of brand-specific beliefs, guiding behaviors and concerning personality traits of individuals. Having a clear set of values creates the following advantages:
- Teams know what the brand stands for and can then better appreciate their roles in supporting this set of values.
- Consumers are more likely to appreciate the brand.
- Marketing activities supporting the brand (communication, pricing) are more easily identifiable from the values.
One of the principles of a successful brand is that there must be a number of values that underpin it :not more than five and probably not less than three. Secondly, it is important to distinguish the brand values from the category values. The brand is built around its own values, but it also has values associated with the class as a right of entry to compete with other brands on the market. Therefore, it is important to specify one set of values, which are of category values and which are specific to the brand. Some examples of brand values:
- Nike: authenticity, inspiration, courage
- Red Cross: humanity, unity, independence
- British Airways: safety and security, accountability and honesty, innovation and teamwork, and global vision and solidarity.
- Body Shop: social responsibility, environmental and animal protection.