For any co. it is critical to form a definite image in the market. This is commonly known as corporate Image which distinguishes the concern from its rivals and provides an image of it to the [general ]public. It outlines the guidelines, principles, productivity of the company. This image is responsible for accelerating the sales of the product and to realize brand equity. Company image creation is an energetic and time consuming process and is carried out by pros qualifying in perception management. Essentially, the creation involves marketing professionals who used diverse categories of promotion methods and press. Since this image is aimed at attract the consumers it should be highly appealing. Besides the promoting experts critics play a crucial role too.
The name of the company and its catch line should reflect its belief like Wal-Mart, which announces that it sells for less. A trademark should also be designed in an appropriate way. Like the co. FedEx has an arrow incorporated in its symbol which depicts its fast and efficient service. Once the image is created by the enterprise the very next step is advertising and product distribution in the market. Like if the corporation creates luxury products, they should rope in important players in the advertising professionals and the models to be featured in these advertisements should be super stars. Similarly, they shouldn’t distribute their products to each other store ; instead they should target more hi-fi malls. Time to time, advertising and branding budget should be reviewed to cut back on cost and to be in-sync with the technology. This also provides help in revamping the corporate image according to the fast changing demands of the patron.
Testimonies of reports papers, mag[azine]s, and labor union can go downhill a well-created corporate image. Simplest of controversies can be exaggerated by the media and ruin the name of the company. Controversies are born by the interference of setups related to environment, faith, crime, politics, education and charity. Government, too, is another strong and influential organization by itself.
Once the corporate image is created, it should be kept. It shouldn’t be like here today and gone tomorrow. This image should be reflected in all the brands and product of the corporation. Even if one of the products isn’t up to the mark, it’ll lead to confusion among the consumers and will hit the sales of the company. Like latterly there was furore about a particular contact lens solution of a company. It was meant to be infecting the users with a rare illness. This not only influenced the sales revenue of that particular product but also made the clients think and raise question about the genuineness of other products of that particular company.
Another company’s products had hidden non-vegetarian ingredient in a veggie product. This led to the decrease of trust among the customers. In such a case the company should either publicize itself as a company selling non-vegetarian food or it should invest in promoting the company as vegetarian by introducing more vegetarian products. So that the image of each individual product of the company compensates for the complete image of the enterprise. And last but not the least, the image should be very natural, truly representing its values and should leave a private touch with the customers.
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