Brand reputation refers to the entire set of evaluations, perceptions, and expectations that each person involved directly or indirectly in a company’s projects, has towards it or a brand it represents or promotes.
All of this is the sole result of the communication and conduct that such a company chooses to use. But let us try to better understand what this is all about.
Brand reputation what it is
Giving a single, clear-cut meaning of brand reputation is very difficult, since as anticipated, it is a set of perceptions, expectations and then judgments, which are always and I mean always, the direct consequence of a company’s conduct within a given market and social and economic context.
Basically, brand reputation is a value judgment that the public has about a company and its conduct. A concept that I would dare to call multidimensional.
One very important thing, is not to confuse brand reputation with immage reputation.
Immage reputation is built and displayed by the company according to its own strategies and needs, and between us it does not always correspond to reality, while brand reputation as already explained, is the direct consequence of concrete actions and accounted for through real reports.
Fundamental factors of brand reputation
In the previous paragraph I defined brand reputation as multidimensional, this is precisely because the factors or dimensions that contribute to creating and defining it over time are multiple.
The reputation institute for example describes seven, let’s look at them together:
- Performance: everything related to the success or failure of the company such as financial performance and profits:
- Products and services: the quality of products and services contributes massively to the creation of a lasting brand reputation, consequently the latter will be directly proportional to it;
- Innovation: represents the dimension in which a company is able to adapt to both social and economic changes in the market, always coming up with new and better solutions;
- Corporate culture and work environment: a company’s ability to create and maintain a stimulating and pleasant work environment over time affects productivity and its ability to attract and retain talented people. Satisfied and fulfilled employees actually become what are called brand evangelists, the main promoters of positive word of mouth;
- Leadership: simple; brand reputation is directly proportional to the reputation of its leaders;
- Citizenship: this dimension today as in the past proves to have a strong impact on the brand reputation that is created over time. In fact, it represents the social responsibility that the company has towards communities, the environment and issues related to collective welfare;
- Governance: Here the dimension of ethics and corporate choices in the businesses undertaken comes into play.
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