Measuring and Assisting Companies to Reach and Maintain a High Level Brand Reputation

To a great extend, in monetary measure, the goodwill of a company is the value of the brand. But perception of the company’s stakeholders is the real everyday tangible corporate reputation, and this perception can be measured.

Measuring periodically the brand reputation will allow management to take actions in keeping and improving the corporate reputation.

INTERNATIONAL BRAND REPUTATION

Is there any specific role or impact in international brand reputation, and how do you build a brand reputation worldwide?

Companies such as IBM or Rolls Royce have built over generations their well known brands, but so are The Metropolitan or the Louvre, two worldwide recognized brands as well. Like many other famous and valuable brands, they are not profit seeking corporations. Brand reputation is linked to fame and image. Across the world, Brands move the economy, when you go to the supermarket or corner drugstore, you look for brands. You don’t buy a refrigerator you buy a brand, you don’t buy any cosmetic product, you get a brand or when you go to the car dealer you first chose a brand.

Nationality is of great importance, there is always an afterthought when a product is from China, Vietnam, Paraguay or Haiti, if compared with Sweden, Singapore, Japan or Germany. Both Japan and Singapore have built their national brand reputation in only two generations and China and Korea are going in the same direction.

Within the country, the diversity of cultural inputs is often large and they also vary from region to region within the nation. Your company’s customers live and work in the region, and they know the territory well. Many international firms expect their clients to make the journey to their culture, often a dangerous decision.

An individual with a strong international name, generating positive awareness, is a shortcut for brand success. Movie and TV stars, musicians, sports champions are all names that might shorten brand recognition success worldwide, however, there is a higher short term cost attached. Speed to brand recognition usually has a higher cost than the long road of brand awareness. This path starts with the product appeal, and might be even more important than quality, especially when the market is the young consumer; looks are fundamental. Quality of product and service are important in the long run, just as the perception of reliability and durability. Throughout the world such key issues as age, socio economic class, education, culture, religion and ethnic background are all important directions when planning brand awareness.

Until recently, consumer rights were almost limited to the advanced economies. Now, legislators are addressing this issue with rigid laws and penalties in many emerging markets. To the extent that a lawful and ethically correct practice in the USA, might be an unlawful and unethical practice in Brazil and could impact the brand value.

Has your brand an international direction? Brand reputation demands a long term planning.

Answering these questions would be a start.