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Question-Answer

Why is brand reputation important?

Eshan Morris
Eshan Morris
4 months ago 39 Views

Hello guys can you explain to me, why is brand reputation important? If i have bad brand reputation what happenes. I am waiting your answer please inform me.


Why is brand reputation important? Answers

  • Sinan Donmez
    Sinan Donmez 20 March 2020 at 17:29

    Corporate Brand is not just a logo, slogan, company spokesperson, PR or advertising campaign. It is mostly the result of the numerous experiences a company creates with internal and external stakeholders, and the emotions developed later by these groups.

    The Corporate Brand represents the company’s culture, systems, people and strategy, and therefore has a significant impact within the company. A strong Corporate Brand creates high expectations among its stakeholders, manages them and responds to these expectations.

    In the late 1980s, intangible assets were considered to be approximately 40% of the companies’ market value. Today, non-physical assets with brand development activities are considered to be 70% of the company’s market value. The brand is the most valuable intangible asset, and today the value of brands is considered to be 1/3 of the world’s capital.

    The Corporate Brand develops through different forms of communication. Therefore, the communication process is very important because the communication process provides the link between the Corporate Brand and the target public and the relations between them. Corporate Brands are an effective way of communication between companies and the target public.

    In its simplest form, the Corporate Brand consists of the sum of the stakeholders’ familiarity with the brand and, in addition, the advantages they provide against the brand.

    Most importantly, a Corporate Brand can help the company produce great results when a commercial asset is managed meaningfully over time.

    10 Benefits of Strong Corporate Brand…

    1. Better business results: like sales, profit and cash flow,

    2. Supports a better financial performance,

    3. It allows the company to apply premium prices,

    4. Creates customer loyalty,

    5. Makes marketing more efficient and effective,

    6. It creates a differentiation between competitors,

    7. Contributes to talented people to choose the company,

    8. Slows or stops loss of market share,

    9. Increases the attraction of the company in financial and investor markets,

    10. It helps shape the complex decisions of rule-makers.

    Basic Lessons Here:

    Companies should pay attention to corporate branding. Strong corporate brands are important assets for companies, especially in an environment where consumers, investors, and employees are choked by options.

    1. Companies should focus on Corporate Brand management as a tool for Management of Corporate Reputations. The corporate brand, which is developed and communicated very clearly, actually enables business decisions to be made in line with the company’s strategic goals.

    2. The Rise of Corporate Brand Management and Reputation Management will create opportunities. The possibilities of linking a firm’s strategy and vision to Marketing and Corporate Communication functions can offer significant financial gains.

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