Company Image is Everything in Competitive Markets
By John M. BetanCourt
Today's big corporations are fighting for image recognition they realized the important to create a distinct image in the market. This is known as Corporate Image which distinguishes the corporation from its competitors and provides a picture of it to the general public. It depicts the principles, beliefs, productivity of the company. This image is responsible for increasing the sales of the product and to achieve brand equity. Corporate image creation is a strenuous and time consuming process and is carried out by experts qualifying in perception management.
Basically, the creation involves marketing experts who used various kinds of promotion methods and public relations. Since this image is targeted to attract the customers it should be highly appealing. Besides the marketing experts critics play an important role too.
The name of the corporation and its catch line should reflect its belief like Wal-Mart, which says that it sells for less. A logo should also be designed accordingly. Like the corporation Stanley steamer has a fleet of yellow vans with all Windows around the sides incorporated in its logo which depicts its fast and reliable service. Once the image is created by the corporation the next step is advertising product and service distribution in the market. Like if the corporation creates same-day service they rope in big reliable one-day service in the advertising experts and the yellow vans to be featured in the ads making themselves stand out as reliable and trustworthy. Likewise, they their target market is a residential first commercial second. Like the big boys you should consider from time to time, tracking advertising and branding budget to reviewed cut down on cost and to be in-sync with the technology. This also helps in revamping the corporate image according to the fast changing demands of the consumer.
Testimonies of news papers, magazines, and labor union can deteriorate a well-created corporate image. Simplest of controversies can be exaggerated by the media and spoil the name of the company. Controversies are born by the interference of organizations related to environment, religion, crime, politics, education and charity. Government, too, is another powerful and influential organization by itself.
Once the corporate image is created, it should be retained. It should not be like here today and gone tomorrow. This image should be reflected in all the brands product/service line of the corporation you must be clear and concise. If one of the products or service isn’t up to the mark, it will lead to confusion among the consumers and will have a negative impact in sales of the company. Here a few negative perceptions of consumer’s examples: Like recently there was controversy about a particular contact lens solution of a company. It was supposed to be infecting the users with a rare disease. This not only affected the sales revenue of that particular product but also made the customers think and raise question about the authenticity of other products of that particular company.
Another company’s products had hidden non-vegetarian ingredient in a vegetarian product. This led to the decrease of trust among the customers. In such a case the company should either advertise itself as a company selling non-vegetarian food or it should invest in promoting the company as vegetarian by introducing more vegetarian products. So the image of each individual product of the company makes up for the complete image of the corporation. The image should be very realistic, truly representing its values and should leave a personal touch with the consumers.
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