We fi rst recognised the value of heritage when we studied monarchies as corporate brands. 1,2 This case study led us to seek and study other brand situations where heritage seems to play an important role and adds value.By brand heritage , we mean a dimension of a brand ' s identity found in its track BACKGROUNDThe purpose of this conceptual paper based on case studies is to explore, investigate and defi ne heritage as a part of corporate brand identity. Our goals are to uncover heritage and to understand better how to activate, nurture and protect heritage in the process of corporate branding.

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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.

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Brand orientation means that the formulation of company strategy is based on brands. By focussing the company′s commitment and resources on building, developing and nurturing brands, a platform for a sustainable competitive strategy is achieved. Presents a model of a brand‐oriented company using the concepts of product, trademark, corporate name, corporate identity, positioning, target group and brand vision. It is management′s task and challenge to synchronize these concepts with a view to generating added value and brand loyalty. The case of the Pharmacia Nicorette provides an illustration of the transition from product focus to brand orientation. The importance of brand orientation for industry and commerce is enhanced by three drivers: decreasing product divergence, increasing media costs and continuing market integration. A corporate management capable of exploiting the potential of brands may obtain long term competitive advantages – a strategy for survival in a growing number of companies.