Image of the company

Corporate image is a set of ideas about company existing in the immediate environment, mainly in the customers mind, including a set of positive associations evoked upon hearing or seeing the name of the logo. The image does not necessarily coincide with reality, it can be a subjective image of the company or its services.

The function of image for customers is:

• Reduce the risk of purchasing,
• Build confidence in the company,
• Diversification in businesses and products,
• Impact on the decision to choose the products.

The image is therefore a way to receive the identity of the company. It can be:

• The same as identity, when a company is perceived by the environment exactly as it wants to be seen,
• Other than identity, differences between the identity and the image can be caused by:
  • Purchaser improperly receive information about the company, creating bad associations about presented symbols,
  • Publicity instruments does not reach potential customers,
  • Discrepancy between the quality of products and services, and what it says about it.
  • Changes in market environment.

Corporate image can be positive, neutral or negative (bad, hurts the reputation of the company). The global image of the company is very important in the case of a complex and extensive business, with a network of sales offices or service points located in different countries.

The rules for creating the corporate image

When building the image managers should respect the following principles:

• Do not start from scratch,
• Do not limit itself to analysis,
• Appreciate the importance of each bit of information about the company,
• Monitor the competitors,
• As soon as possible begin communicating with the environment,
• Establish a clear, precisely defined and realistic objectives of communication,
• Develop your own style: recognizable, interesting, flexible,
• Involve all employees in creating company's image,
• Measure the results of company's image in the environment.

Examples of Image of the company

• Professionalism: A company’s professionalism is often judged by the way it presents itself. This includes the quality of its website, the clarity of its branding, and the way it communicates with its customers. For example, a company that is organized and provides clear information on its website and responds promptly to customer inquiries will typically have a positive reputation.
• Quality: Quality can be a major factor in a company’s corporate image. Consumers generally favor companies that provide high-quality products and services. Companies that consistently produce quality products and services will typically be seen as more reliable and trustworthy.
• Value: Consumers often evaluate companies based on the value they provide. Companies that are able to offer quality products and services at competitive prices can establish a positive corporate image.
• Innovation: Companies that are seen as innovators can have a positive corporate image. Consumers appreciate companies that are able to introduce new products and services that offer unique benefits.
• Customer Service: A company’s customer service can also play a major role in its corporate image. Companies that are able to provide prompt, helpful customer service will typically be seen in a favorable light.

Advantages of Image of the company

Having a strong corporate image has many advantages. It can help to create a competitive advantage, build customer loyalty, attract new customers, and increase revenue. It can also help to create a positive reputation in the marketplace, generate positive press, and increase employee morale. Here are some of the advantages that a strong corporate image can bring:

• Improved Customer Loyalty - By creating a positive image of the company, customers are more likely to trust the company and remain loyal over time. This helps to create customer loyalty and ensures that customers keep coming back.
• Increased Revenue - A strong corporate image can help to increase revenue, as customers are more likely to buy from a company they trust and respect.
• Positive Reputation - A strong corporate image can help to create a positive reputation in the marketplace, as customers are more likely to recommend the company to others.
• Increased Employee Morale - A strong corporate image can help to increase employee morale, as employees are proud to work for a company with a positive reputation.
• Positive Press - A strong corporate image can help to generate positive press, as journalists are more likely to report on a company with a good reputation.

Limitations of Image of the company

The limitations of corporate image can be divided into three primary categories:

• Perceived Quality: The perception of quality is based on a consumer's past experiences and their expectations. A company's image can be affected if the quality of their products or services does not meet those expectations.
• Brand Reputation: A company's reputation can be damaged if they do not take measures to ensure that their brand is perceived positively by the public. Negative press, customer complaints, and unethical practices can all contribute to a negative corporate image.
• Company Culture: Corporate culture is often tied to the values and mission of a company, and it can be difficult for a company to recover from a public relations disaster if their culture is not seen as positive or inclusive. Companies must be mindful of how their culture is perceived in order to maintain a positive corporate image.

Other approaches related to Image of the company

• Corporate identity is the visual representation of the company's values, mission, and goals. It includes the company's logo, color palette, and other visual elements used in branding and advertising.
• Corporate culture is the shared values, beliefs, and practices that define the company's identity. It includes the organization's vision, mission, and values, as well as its policies, procedures, and processes.
• Corporate reputation is the perception of the company among its stakeholders. It encompasses the company's trustworthiness, transparency, and ethical behavior.
• Corporate storytelling is the process of using stories to connect with customers and build relationships. It includes using narratives to communicate the company's mission and values.
• Corporate social responsibility is a company's commitment to ethical and responsible behavior. It includes initiatives such as sustainability, charitable giving, and employee well-being.

Overall, corporate image consists of multiple approaches that form a holistic view of the company. Corporate identity, culture, reputation, storytelling, and social responsibility are important elements that shape the image of a company in the minds of its stakeholders.

Image of the company — recommended articles

Customer loyalty — Goals of marketing — Corporate branding — Importance of business ethics — Brand promise — Customer benefits — Brand value chain — Cult brand — Brand leader

References

• Dowling, G. R. (1993). Developing your company image into a corporate asset. Long range planning, 26(2), 101-109.
• Shee, P. S. B., & Abratt, R. (1989). A new approach to the corporate image management process. Journal of marketing management, 5(1), 63-76.
• Barich, H., & Kotler, P. (1991). A framework for marketing image management. Sloan management review, 32(2), 94-104.