Regarding the data obtained from the Reputation Industry in the year 2017, Rolex, Hallmark, and Lego are among the reputable firms in America (Popomaronis, 2018). The companies are responsible as well as focused on upholding the reputation strength of the marketing industry. Nowadays, a large number of customers opt to purchase goods and service online and consequently, firms and organizations have come up with social media platforms where they can obtain feedback from the customers on the reliability and credibility of services provided to them. Notably, customers' views are so powerful such that they can cause either damage or promote the reputation of any firm (Popomaronis, 2018). In essence, when it comes to company`s brand reputation, social media has shifted power to the consumers. As a result, brands are coming up with strategies to satisfy their customers, whom in most cases determine the status of the companies, which is a crucial component for the growth of the business enterprise. Regardless of a company's size, failing to come up with ways of maintaining an excellent reputation in the market could be calamitous to the brand.
There are a number of factors that a firm should consider in order to maintain its reputation in the marketing industry. Heading the list of these factors is transparency, which requires the business to be open to its customers as well as the salespersons by telling all the news, whether good or bad boldly. Secondly, the business should commit to taking part in social activities that aim at giving back to the society even in the smallest ways because this aids in creating a rapport between the brand and customers. Additionally, the virtue of integrity should be fully employed in all business operations in order to win customers' trust. Branding should be inspirational in a way that will make customers think positively about the business as well as develop the desire for more (Popomaronis, 2018). Last but not least, a firm is advised to treat its employees with respect and dignity. An organization that manages its workers well stands a better chance of reputation as compared to a firm with a public disguise and a different identity when it comes to employee treatment.
Brands tend to use time, capital, and resources to visually impress customers but according to Nadia Munna, from the article, once customers notice one negative outcome, massive damage is done on the reputation of the firm (Popomaronis, 2018). Managing the reputation of a business ought to be mandatory and consistent, and an organization should always be quick to respond to negative publicity as the impact can be so severe if not taken seriously. In the case of negative comments by customers, it should not be a time to snap back but rather; there should be an immediate polite response by the brand letting the customers know that their complaints have been heard and that there are plans in place to rectify the matter. Moreover, the firm should investigate the reason behind the negative comments which gives knowledge on what exactly to address, whether the customer services or the shipping process and therefore a final solution can be obtained hence preventing the same from happening in the future. In addition, the business should put an effort in reducing negative comments from the search engines as well as be actively involved in review sites and social networks (Popomaronis, 2018). Dormancy in social networks not only denies a company an opportunity to bond with customers but also denies an organization a chance to quickly respond to negative comments, which ruins the reputation of the business.
Popomaronis, T., (2018). The Age of Online Reputation Management: How Consumers Now Govern Brands. Forbes Publishers. Retrieved from: https://www.forbes.com/sites/tompopomaronis/2018/02/02/the-age-of-online-reputation-management-how-consumers-now-own-brands/#5acca35c5d5b
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