Importance Of Corporate Image
“The well-being, indeed survival, of many organisations rests on the success of their corporate brands” (John M.T. Balmer 2001)
In nutritional circles, it's said that "you are what you eat." As a corporate entity, you are what people think you are. In today’s severe competitive markets, differentiation between organizations in terms of price, product and/or service characteristics and the value of the delivery system is difficult. Thus, for retaining the customers, positioning the organization inside the customers’ black box, i.e., customers’ mind is the necessity of the day. Here, developing a positive corporate image plays the crucial role.
1.1 Background of the Study:
In this world of cut-throat competition, survival of the fittest is
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There has been a lack of systematic conceptual and empirical research on the term “corporate image”.
Customer loyalty has been found in the literature to be a competitive tool for many companies and attitudinal loyalty is all about a consumer having an emotional attachment to a brand, liking it more than others, and even loving it. Thus, the customer is the main focus for any successful business. Business success depends on retaining a customer by way of understanding and meeting their needs and demands for a longer period of
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Image per se, has been defined by many experts, but the abrupt way of describing image is positive perception that public carry about an organization.
1.3.1 Corporate Image-
A corporate image is the perception that the general public holds about a particular business. According to Van Riel (1995) and Argenti (1998) , it is the perception of constituencies on how an organization actually presents itself. One of the most basic ways of shaping a corporate image is establishing and maintaining positive relationships with the general public.
It is the reputation of the firm with the various audiences. These groups who have a stake in the company are known as stakeholders. Stakeholders are affected by the actions of the company and in turn, their actions can affect the company. Consequently, its image in the eyes of its stakeholders is important to the company.
In today’s globalised and borderless market; customers create a challenge for the survival and growth of all firms. These growth and survival demands are further deepened by the need to attract and retain loyal
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