Business image and business reputation

15 / 07 / 2020

When buying any product or service, choosing a service company, you are faced with evaluating the image and reputation of the company. Image and reputation, for the most part, determine customer choice. In the modern business world, the “Name”, which is associated with quality or uniqueness among customers, is one of the main development factors in the competitive market. It determines the stability of the company's income.

Depending on which business development strategy the businessmen choose, they pay great attention to the name, image or their reputation. If the name and image is formed in the process of company marketing, then reputation is something that is determined by real compliance with customer expectations, quality and "close" ties with the consumer.

The image of a company is often artificially formed. The image of the company is mainly dealt with by the marketing department, which can cause an emotional and memorable reaction of the consumer. The image of the company is directly related to traditions, advertising and prejudice. The image is easy to create or quickly to change.

Reputation can be formed over the years and is determined by the "feedback" of customers who have used the services of the company. The main factors in building a reputation are:

• quality of goods or services;

• competence of company employees;

• honesty to the consumer;

• speed of service.

The business reputation of the company can be formed due to its external and internal factors. Internal factors include the age and history of the company, the size of the business, relationships with managers and tax authorities, relationships with partners, honesty in fulfilling business agreements. External factors include charitable and social activities, a favorable attitude to all types of clients and the stability of the development of the company.

Any business needs to work both on its image and on its reputation. It is very important that the image and reputation develop together and correspond to each other. To this end, there is the concept of "Public Relations" (PR - public relationship) - a set of measures and actions that affect public opinion in order to maintain and support the "positive image" of the company and strengthen its reputation in the market.