1.4.1 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 that are important to it. These groups that 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 …show more content…
It encompasses issues such as whether basic tasks should be organized by function or product division, the company's overall configuration, the degree of decentralization, the number of staff personnel, the design of jobs, and the internal systems and procedures. -Operations, the fourth and final component of corporate identity, are the aggregate of activities the firm engages in to affect its strategy. These activities become part of the reality of the corporation and can influence its identity in a wide variety of ways. In businesses of all sizes, it is vital that managers recognize the importance of creating and maintaining a strong organizational culture and those they also make employees aware of it. Corporate image begins within the offices of a company's managers. It should be based on the development of good company policies and strategies, rather than on controlling the damage caused by bad company policies. It is also necessary to plan the organizational design in an effective manner so as to make the operations cost-effective and …show more content…
Hard-core Loyals - who buy the brand all thetime. 2. Split Loyals - loyal to two or three brands. 3. Shifting Loyals - moving from one brand to another. 4. Switchers - with no loyalty (possibly 'deal-prone', constantly looking for bargains or 'vanity prone', looking for something different). Customer loyalty tends the customer to voluntarily choose a particular product against another for his need. The loyalty may be product specific or it may be company specific. When a loyal customer has repetitive requirement of the same product, such customers may be described as being ‘brand loyal’. On the other hand he/she may also require different products of the same manufacturer. That is to say he/she makes significant purchases direct from the same supplier and that counts as the company specific loyalty. Loyalty also means that customer is sticking to the supplier on certain grounds though he may be having other options also. It may be possible that the supplier may not have the best product or the customer may be having some problems with the supplier in respect of his supply of the product but the customer likes to ignore other options and prefers to continue with the same supplier as the customer thinks the supplier provides him more value and benefit than others. Such loyal customers tend to spend more money buy more, buy longer and tell more people about the product or supplier. This type of long-term customer loyalty can only be created by making the customers
Customer loyalty comes from the personal relationship that is developed between the customer and the business. One method used to understand the customer relationship is called customer relationship intensity and Life-cycle segmentation (UOP, 2007). This process includes classifying all the customer relationships into one of five groups.
“Most successful businesses have a carefully crafted image that separates them from the competition and helps to establish a solid public presence,” remarks Allison Green. A distinct corporate image benefits many aspects of any business. Public relations rely on image to attract new customers and to generate repeat business. Finance departments depend on image to impress investors and shareholders with a sense of stability. Employees feel more secure when a company has a good image.
Introduction. Customer loyalty is basically defined as a deep held commitment to re-buy or re-patronize a chosen product/service consistently in the future, thereby causing repetitive same-brand or same brand-set purchasing, despite situational influences and marketing efforts having the potential to cause switching behavior (Oliver, 1997). It is a main driver for customer retention, which, in its turn, represents a basic force that accumulates a customer base for the company. As the experience suggests, the presence of the customer base is a valuable asset, because a lot of statistical data and marketing researches have proved that it is harder and much more expensive to acquire a new customer rather than retain an existing one. In this aspect, any business without a focus on customer retention is left on market’s mercy: any market movements will affect the sales in a more intense manner. There is also a risk that your competitor may eventually satisfy the existing customer’s needs and take away a part of your market niche. Moreover, customer loyalty gives a sort of discretion to the company’s R&D policy and marketing strategy: you can try to introduce different features to your products, experiment with different types of ads, and no matter what the results would be, — the customers will stay stick to your production line. Of course, an organization does not have an absolute control over the loyalty of its customers, bec...
Loyalty, it comes in different shapes and is generally seen as a highly regarded human trait. It is defined as a commitment to consistently purchase preferred products or services over and over again (Oliver’s, 1999 p.34). A Loyalty Program (LP) is a marketing exercise designed to reward returning buyers (using discount cards; points cards; club cards / discounts; gifts and exclusive services). Some argue that LPs are only made to make consumers dependent on specific brands. This essay provides evidence that LPs mean to deliver benefits to consumers covering a multitude of their needs beyond mere financial advantage. Further, the paper argues that the choice to join or leave LP ultimately rests with the end users. Frequently multiple brands within one category of products are supported simultaneously.
Brand loyalty is defined by Aaker (1991, p. 39) as a circumstance which shows the tendency of consumers switching to another brand, particularly when the brand makes a change, whether is a change in price or product features. Oliver (1997) characterizes brand loyalty as a sense of commitment to constantly repurchase or repatronise a favored product or service in the future, regardless of any marketing tactics or situational influences that may act upon switching behavior. Aaker (1992) and Keller (2003) noted that brand loyalty means that each consumer whose past and future purchase is the same, they recommend others to purchase or they have the intention to purchase more. Moreover, Brand loyalty is the attitude of brand preference towards a
(2014) is “the way in which leaders interact, make decisions, and influence others in the organization” (p 237). The culture needs to foster cooperation from all areas of an organization, while providing the ability for adaptation and growth. Not all organizations culture will be the same, there is not a correct one that can blanket all organizations to cozy success. (3) Talent Systems. Human capital drives all organizations, the right people need to be in the right jobs with the correct opportunities for growth and advancement. There must be a constant search for strategic thinkers and leaders able to step up with called upon. The authors mention “Talent Sustainability” (p. 248), there must be enough qualified employees ready to move up so the organization will not stall while searching for others to replace others due to attrition, or other opportunists. (4) Organizational Design, must take a number of variables into account while providing structure to an organization. Hughes et al. (2014) state “the design of the organization is a trade-off between options, each with advantages and disadvantages” (p 253). The correct design can help clear the hierarchy of an organization and the proper channels for
True customer loyalty is not only about getting a customer to consistently choose your brand over another. It's for that same customer to always believe (and then go tell the world) that your company's brand has no equal!
As discussed earlier, public opinion can make or break an organization. To grow, companies either need to sell enough products and services to realize a profit or get investors. Both requires a positive public image. A company builds their image by acting in accordance with their values, and from demonstrating appropriate values. Documenting, implementing and publicizing the company's values and/or mission statement allows the public, clients, investors, and employees to understand what the company stands for, that it takes business ethics seriously. Companies with strong reputations are also companies that tend to attract more investments.
Companies have to distinguish themselves in different ways if they are to have a good reputation and this can be done through their communication strategies. In a time of crisis the company’s reputation is threatened and the communication strategies used will save or hurt the firm’s reputation. Before creating communication strategies, companies ought to identify their stakeholders. Appendix 3 illustrates the different stakeholders of a company.
For these reasons, it is important for organization to build a desired employees corporate image by presenting itself as a concerned, honest, trustworthy and reliable organization. Developing a good corporate image need to start from inside out because employees represent the organization. Employees interact with the other stakeholders to convey organizational messages. To achieve this, employees must first of all view their own organization’s corporate image positively.
This can be manifested in an ability to attract and retain customers and employees, achieve strategic alliances, gain the support of financial markets and generate a sense of direction and purpose. Corporate identity is a strategic issue. Corporate identity differs from traditional brand marketing since it is concerned with all of an organization’s stakeholders and the multi-faceted way in which an organization communicates.” (Ballmer, Bernstein, Riel et al. 1997)
Stakeholders refer to individuals or groups of people that have an interest in a business. Management argues that as long as there is wealth for shareholders, then anything is done in a responsible manner and things should be done to promote the interest of other stakeholders.
Consumer loyalty is when a client continues to believe that the product and services that an organization is providing is the best that meets their needs and expectations. They take that opportunity each time faced with a purchase decision. Based on customers’ responses to questions, specific aspects of their relationship with
There are many description and theory of customer loyalty. We should research and compare which theory is suitable for our business.
From the study it is clear that people often purchase branded products since they are aware of the brand performance or perhaps they have a good past experience about the brands. This makes customer’s become loyal with the specific brand.