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Glossary – Corporate image

Corporate image

Nikiforov Alexander
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Corporate Image: Definition and Significance

Corporate image represents the appearance of a company in the eyes of various groups of people, such as customers, investors, and employees. It encompasses the associations and impressions that people have when a certain brand is mentioned. For example, the image of Airbnb is based on the concept that anyone can feel "at home" anywhere in the world. Thanks to a clearly defined image, Airbnb has become one of the first companies that come to mind for travelers when choosing a place to stay.

Image and Reputation: What's the Difference?

Image and reputation are two concepts that are often confused, yet there are important differences between them. Image is the subjective perception of a brand, the associations and impressions it evokes. For instance, when you hear the name "Aviasales," you likely think of affordable tickets and creative advertising. In contrast, reputation represents an objective assessment of a company’s activities, based on actual successes or failures.

For example, Facebook has a positive image as a technology company; however, its reputation has been undermined by scandals related to data leaks and issues with the spread of fake news. Thus, image and reputation can significantly differ, highlighting the importance of working on both aspects.

Functions of Corporate Image

A strong corporate image helps a company address multiple tasks. Firstly, it strengthens market positions and increases brand recognition, making the company a top choice for consumers. For instance, Nike is a “top-of-mind” brand for people looking to engage in sports. Secondly, a strong image fosters increased trust in the brand and customer loyalty, creating an emotional connection with them at the level of values and associations.

Additionally, a positive corporate image can lead to increased sales. Customers are more likely to choose a company that they have positive memories of and trust. Although image is not a direct source of revenue, it can support and enhance income in the long term.

Why is it Important to Work on Company Image?

Corporate image is formed regardless of whether the company is actively working on its creation. It is influenced by factors such as product and service quality, customer reviews on social media, and mentions in the media. Working on the image allows a company to manage the impressions it creates on various audiences, including job seekers, partners, and customers.

For example, quick and responsive reactions to feedback on social media can significantly enhance the company's perception among customers, while employee participation in professional events can increase brand trust. Additionally, image advertising helps create lasting associations of certain values with the company's products.

Types of Corporate Image

Corporate image can be divided into two main types: internal and external. Internal image refers to how the company is perceived by its own employees, including their confidence in leadership, sense of team belonging, and fairness of working conditions. External image is formed in the perception of the company in the market and society as a whole, which is further subdivided based on audience: consumers, media, investors, and partners.

Each of these groups perceives the company differently, and it is important to consider these differences when shaping the image. For example, press lunches can help create an image of an open company for media representatives, while image products can convey the brand's values to potential customers.

Components of Corporate Image

Corporate image consists of various components, including:

  • Corporate culture of the organization;
  • Image of the leader or founder of the company;
  • Image of employees;
  • Brand style (logo, design, and corporate colors);
  • Quality of products and services;
  • Consumer image;
  • Opinion of the local and international community;
  • Business image;
  • Social image based on participation in charitable initiatives.

Each company may highlight certain traits of its image that are most pronounced. For example, Tinkoff Bank is associated with quality support, an individual approach, and a bright corporate color.

How to Form a Corporate Image?

Forming the desired image of a company begins with developing a brand platform that outlines its mission, values, target audience, and unique branding elements. Based on this platform, the company can apply a range of tools to create its image.

The main tools include:

  • Branding: develop market positioning and corporate style.
  • Marketing: utilize social media, media, and image advertising.
  • PR: collaborate with journalists and bloggers to increase positive mentions.
  • Social initiatives: launch charitable actions and communicate responsibility in production.
  • HR: manage personnel to create a positive climate within the company.
  • Customer support: provide friendly and responsive support services.
  • Feedback management: actively respond to reviews to demonstrate the company's closeness to customers.

Thus, forming an image requires a comprehensive approach and active interaction with all stakeholders, ultimately contributing to strengthening the brand and enhancing its value in the market.