P&G buffs image with fall brand effort

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Procter & Gamble Co. will launch its first global corporate branding campaign later this year via Leo Burnett USA and Edelman Public Relations, both Chicago.

Even though the effort was planned earlier, it seems P&G's corporate brand suddenly could use more buffing, at least on Wall Street. "It's so hard to build up your credibility on the street and it can get wiped away in a day," said William Steele, analyst with Banc of America Securities.

The advertising, however, will go beyond investors to include consumers, potential employees and communities where P&G operates. P&G until now has never played up the corporate brand outside Asia.

"The world is rapidly changing, and it's clear the touch points consumers and other stakeholders are having with us now are manyfold," said a P&G spokesman.

A likely goal will be to dispel P&G's image as poster child for the "old economy," reinforced last week when its stock plummeted as the tech-heavy Nasdaq exchange flirted with record highs.

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