Brand reputation encompasses the values supported by national and external force towards a house. It is also significant to see that brand reputation is built up over a long period of time and if these values are consistently positive the reputation will also be positive (Herbig & Milewicz, 1993). Also prevalent in the above definitions is the fact that reputation is the values and beliefs entertained by an individual/consumer towards a particular firm. Furthermore, brand reputation is also made by the flow of data from one user to another, therefore the beliefs that are taken about an organization are imperative to the firm’s report. Therefore, the above definitions all contribute to and explain a facet of brand reputation.
The definition of brand reputation that will be utilized in this research is “reputation refers to the more universal emotional response that and person has towards an organization as a result of its actions over a longer period of time” (Amis 2003, p 191). This definition will be applied because it crosses the two most common trends in the above definitions, that reputation is acquired over time, and it is an individual’s response towards an establishment.
The importance of brand reputation as an intangible resource stems, in great part, from the immense amount of choice that is usable for most any product or service and the limited quantity of time or experience that consumers possess (Amis, 2003So being able to rely on a positive brand reputation to aid decision-making is a strong tip and can be named as a major asset.
This comes about when people hold strong favorable and unique associations about the corporate brand in memory (Keller, 1993). Even so, this is usually evolved over years of exposed superior...
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...erstood in its relationship to a firm’s revenues when a firm’s reputation increases and then does its sales. For a stain to become successful the firm must have produced a positive reputation, hence a firm with a good overall reputation owns a valuable asset (Milewicz & Herbig, 1994). Well-reputed firms have a CA inside their industries, but bad-reputed firms are discriminate Fombrun and Shanley (1990). Furthermore, If a firm wants to enlarge its product line, a comfortably- known brand name, can be valuable in facilitating user acceptance of the new product because of its existing brand reputation (Herbig & Milewicz, 1993). Nevertheless, the reputation is fragile and can be easily missed. Formerly a reputation is lost it takes seven to ten times the effort to fixed the reputation (Herbig & Milewicz, 1993). Thus, reputation needs careful management and diligence.
Brand equity goes beyond the financial assets and profitability to incorporate the recognition and loyalty of customers toward the brand. Customers are trust familiar brands in a similar way that they trust people who they have known for a long period of time. This is because familiarity leads to a sense of comfort and emotional attachment that customers often opt to purchase a recognised brand rather than a less familiar brand although the generic product is essentially the same.
Although, managing reputation in this new environment requires organizations to respond skilfully to potentially dangerous issues and disruptions, while staying focused on their long-term growth and market goals. The measurement of the level of trust within an organization provides it with the opportunity to improve its marketing efficiency and build a long lasting reputation. Therefore, we must understand that trust and reputation work concurrently, and they need to be enhanced and safeguarded.
In every given business, the name itself portrays different meanings. This serves as the reference point and sometimes the basis of customers on what to expect within the company. Since personality affects product image (Langmeyer & Shank, 1994), the presence of brand helps in the realization of this concept. Traditionally, brand is a symbolic manifestation of all the information connected with a company, product, or service (Nilson, 2003; Olin, 2003). A brand is typically composed of a name, logo, and other visual elements such as images, colors, and icons (Gillooley & Varley, 2001; Laforet & Saunders, 1994)). It is believed that a brand puts an impression to the consumer on what to expect to the product or service being offered (Mere, 1995). In other application, brand may be referred as trademark, which is legally appropriate term. The brand is the most powerful weapon in the market (LePla & Parker, 1999). Brands possess personality in which people associate their experience. Oftentimes, they are related to the core values the company executes.
What can brand personality do for a brand is a major concern to firms. Therefore, marketers and scholars have focused on measuring the effects of brand personality. Previous literature confirms that brand with pleasant personality leads to positive product evaluation and brand reputation. The impact of brand personality in related studies can be categorized into three types, including brand attitude, brand attachment, and brand selection.
Coca-Cola. And Apple. Two companies from two very different industries, yet both have such strong brand identities, it has become iconic. A brand identity should be “the heart and soul of a brand.” [2] (Aaker, D. A., 2010, p. 68) But it’s not just a strong brand identity that has made these two brands internationally known. In both cases, it has been a strong combination of brand identity and well-considered packaging, which have put them at the forefront of their respective markets.
...of brand equity in an organizational-buying context. Journal of Product & Brand Management, Vol. 6(6), pp. 428-437.
"Strong brands build emotional attachments. They attempt to develop a relationship," says William Dillon of Cox School of Business.
Companies use a collection of brand equities to represent their products in the market (Voolnes, 2012). Brand equity refers to the commercial value that is derived from the perception of consumers on any given brand name of particular products in the market as opposed to the product itself. Ataman (2003) notes that the effect to the consumer is in the brand name and not the product itself. Companies use logos, trademarks and a collection of other symbols to present this information to the customers. The use of these symbols is meant to try and capture the customer mindset so that they can be thinking about the company products at all times through the items they possess at home (Estes, Gibbert, Guest, & Mazursk, 2012). This can well be explained by use of the customer-based brand equity model that brings together the requirements for a publicly renowned brand in the market.
Based on the literature review, reputation is a significant driver in creation of value or the obliteration of it. A number of the consumers consider reputation of a company as their most substantial purchasing criteria. Reputation provides a unique competitive advantage which enables companies to overtake the market. A decrease in reputation is linked with average market loss. Due to globalization, financial and economic unrest, growing business complexity, the news cycle rapidity and the evolution of social media companies are more vulnerable than ever. Today it’s hard to predict crisis which can be harmful to the most carefully build reputation. For example Volkswagen’s reputation has continued to be damaged by the revelation that it cheated emission tests. The company has a had a strong reputation for value but that reputation is now tainted. With different stakeholders all brands need to take care of their solid
A brand can be described as the sentiments people have regarding a product offered in the marketplace; however, it is not the name, logo or the symbol of a product. The brand is an expectation which individuals have for as establishment’s commodities or amenities. Branding is defined as the process of producing reactions and impression between the business and the consumers of the products they offer. It is commanded by the audience, and an establishment has no control over what the consumer's perception of the commodities. In the marketplace, branding commands the reputation that a business produces for itself. The content which I have selected to concentrate on developing in this paper will take a comprehensive analysis of the brand “Coca-Cola.”
The research suggests that reputation comes from relationships and trust. Fombrun (1996) stated that to have a positive reputation managers must invest in building and maintaining good relationships. Building relationships with the company’s publics can result in a higher opinion of their reputation. These relationships also builds trust in the company. “Trust, like reputation, can take years and resources to build up, and while it may be difficult to break, it, again, like reputation, can take considerable time and even more resources to restore” (Bronn, 2010, pg. 310). With both relationships and trust, a company must be communicating with its publics. Van Riel and Fombrun (2007) developed six key communications principles that yield a high reputation: visibility, distinctiveness, authenticity, transparency, consistency and responsiveness (pg. 313). Applying these six principles to the Carnival case, we can determine if Carnival used them in managing their reputation.
Brand attitudes: it’s the consumer evaluation of brand .Keller (1993)another important impact distinctive Between 11 dimensions: product attributes, intangibles, customer benefits, price, use/ application, user, product class, celebrity, country of origin, competitors, and life style. Aaker’s and Keller’s show many topologies like price, user imagery, usage imagery, and product attributes I will identify some weakness , but it should be considered that how it’s possible to trap the content of consumer knowledge. Aaker (1991). "Sum of the total brand impression is called brand image (Herzog 1973), anything that is associated with brand (Newman 1957), and "the perception of the product" (Runyon and Stewart
University Reputation: a spread of opinion regarding an entity or as an interaction between stakeholders in which the university has no direct impact. A perception of quality associated with the name, in the university environment perceived brands can be used by as a quality indicator, may be determinant in the future willingness to repurchase or recommended the services offered by the university to others. A good reputation can be passed from one department to a new department or from one branch to another (Shyle, 2015). While university reputation has traditionally been the main indicator for the uniqueness of a higher education institution, with the emergence of branding, the adoption of concepts such as brand identity, meaning, image, and reputation are becoming increasingly important (Hemsley-Brown et al.,
This means that the consumer places on brand image an intangible benefit different from other brands in the industry. Keller (1993) described brand image as a concept that customers assume due to abstract reasons and their own personal emotions. Brand associations are the attributes which are deeply seated in the customers’ minds related to the brand name, so to make relation positive one, brand should be associated with something positive which shows a value to the eyes of the
Article published in NewStatesman by Ian Leslie, titled ‘’The reputation game: how to control the way we appear in the eyes of others,’’ states that; ‘’this is your reputation, it is you, because it derives from your actions, and also not you, because it is composed of other people’s opinions and it is a portrait of you that you didn’t commission and don’t own’’ (Leslie, 2018). Put in a different form, character is what you are doing; reputation is the confidence others have in you. One is objective, the other is subjective. The character of someone is completely different from his or her name, and this is true about brands similarly (Reputation,