Image and Reputation
When it comes to corporate reputation, some of the definitions and criteria must be taken into account, namely the difference between reputation and image and the reputation of an organization.
A brand has a threefold dimension, just as Coca-Cola has pushed for in the three C: Consumer Marketing, the Corporate Marketing and the Category Marketing. In addition to the customer, companies have to pay attention to the other stakeholders, summarizing that "it's useless to have a good brand and a good company if the business sector is damaged. And this is where Marketing Communication is decisive in building or recovering a good reputation, starting by separating concepts and definitions, namely between reputation and corporate image.
The first is the origin of each: Reputation refers to the business reality based on its consolidated and proven history, while Corporate Image is based on the communication of a one-off project. The second is that Reputation tends to be stable, structural and permanent, while Corporate Image is more cyclical.
Thirdly, Reputation is measurable and empirically verifiable, while Corporate Image is difficult to objectify. Secondly, it has an impact on results and the balance sheet, both of which can be measured. Corporate Image, on the other hand, lives on the expectations it generates.
The fifth and final point is that Reputation is generated and managed from within the organization and image is built externally. A company conveys an image of difficulties, but bankruptcy is a technical management concept. A company, regardless of how it is perceived externally, is bankrupt or not.
Having understood the differences and similarities between reputation and image, remember that a company's reputation is one of the main assets on its balance sheet and therefore something that deserves to be treated and managed well. Tell with us to do so.
Reputation is an important driver value for brands and also for shareholders. In times of crisis, a good reputation can help protect the business and investments aimed at strengthening the company's reputation can increase the company's value. market share.
A good corporate reputation management cycle is vital. It starts with identifying potential flaws in the brand's perception, then structuring a reputation management plan, implementing and monitoring the plan's actions and carrying out regular diagnoses of the company's perception among its stakeholders. stakeholders. In this way, corporate reputation becomes a strategic asset, generating real value and preventing long-term damage.