THE ASSESSMENT OF THE INFLUENCE OF CORPORATE IMAGE ON MARKETING A MANUFACTURES BRAND NAME PRODUCT (A CASE STUDY OF DENCO FOAM LIMITED ONITSHA ANAMBRA STATE)
This chapter will be used by the researcher to visit the work done by authors in marketing and related discipline. Several authors have written on this topic “Corporate image” each had submitted his or her own observation based on his perspective.
There are several author with different views on topic some emphasis on the meaning, other on the function or uses and yet others note on how corporate image can be created or used by firms. Information on literature review is indispensable in such a study. This is so because it gives the researcher guideline and insight on what the topic is all about. It helps to widen the knowledge of the researcher in the topic under the study. Corporate image is very broad as a topic and reviewing the works of other experienced writer on the topic will make research work easier for the researcher.
2.2 REVIEW OF CURRENT LITERATURE
According to Softness, he defined corporate image as the way the public sees the organization, he noted that the image of an organization is capable of influencing the customers behavior, since nobody would like to deal with organization he or she does not trust.
On these part Kincaid (Noted) that when an organization has good image, they will appear in the good book of consumer. Speaking on corporate image Ugonweji noted that firms can establish corporate image through public relations. He argued that public relations is like a medicine which is both curative and preventive, as curative he continued public relation remedies ill-will some segment of their market or public feels towards the firm, as preventive public relation fore-stalls ill-will, all with the objective of improving the image and reputation of the organization. This emphasize is good public relation which he sees as a two way process that help the organization build good corporate image. This is because public relations is concerned primarily with people outside but not entirely, he concluded in the words of Tatt (1984) corporate image can be divided into two: Good corporate and bad corporate image to have a good corporate image it implies that the public is in love with the firm. But bad corporate image according to him shows that there is no sign of any good feeling from the public towards the firm or organization. The agreed that organization can build good corporate image just like individual can build their own good individual image.
Taff, finally concluded by adding that firms must always thinks about the public first in any decision making process. If not negative reactions are to be expected from the public.
Udeagha (1999) agree with the above ascertain when he noted that every organization has an image just the same way individual do. He observed further that the image of the organization is the way the organization appears in the eye of the public. According to him, a firm image may be good or bad but it depends on the way they are being perceived by the public. He concluded by noting that the image of the image of the firm plays a major role in buying decision of the target market.
In the opinion of Awah (2002) marketing activities does not end with producing a good product, pricing it, of the company including their image and regulations, for this according to him further motivate the public in accepting the firm and its products.
Every individual firm, group and families has image. Okafor (1984) the image may depend on how the public view such person or firm function on how the person or firm is being viewed by the public. It is on this note that.
Adirika (1997) observed that a firm with a good image has a good assets for it among the motivating force which the public rely on decision making.
Every organization has a public (Kolter 1984) the public accordance to him is any person or group of person that has actually or potential interest or impact an organization ability to achieve its objective. These public, Kotler noted can be internal or general in nature but the organization should ensure they position themselves in a way that they can be seen as belay trust-worthy by the public, to achieve this objective Kolter opinioned that the organization should ensure the position themselves in a way that they seen a belay must strategically build a good image which will always attract the public interest and attention to establish an enduring corporate image.
Hambrick (1984) noted that public relations officers should lead themselves to community fund raising handle customer complain, charity and also offer professional advice to company manager. He argued that for organization to maintain good relationship with everyone whom it affects. It must sub-divide. It general public into smaller unit so that appropriate public relations programes should be applied to each of the units. This is because as he observed the expectations and factors that can influence each of the public varies from one unit of the public to another. The importance of good or favourable corporate image cannot be over emphasized.
Kinner (1987) argued that firm use institutional or corporate advertising in building and maintaining good corporate image. This form of advertising according to him helps a firm to tell their stories about a product or service they offer. But the end product may be a sell he agree his opinion that corporate advertising has its primary aim at establishing its favorable attitude in the audience about the firm. This favorable image develop by the public will end up in assisting them to make purchase decisions. Negatively publicity has its adverse effect on a company’s image Kincaid (1985) he noted that this situation is much more prevalent in the media than a positive one. This is because according to him the press occupies a central position in protecting the masses against any detrimental practice of any institution though he submitted that political office holder wishing to marginalize the masses have constantly used the media to achieve their aim. He concluded by using adding that adverse publicit6y could be damaging a firm image even though there is no proof of all effect on consumes or there are ill effect but the firm involved is Innocent of them.
PUBLIC RELATIONS ADVERTISING
In the words of Udegha (1999) public relation advertising can also be called cooperate or institutional advertising. This is aimed at selling the cooperate personality of an organization on the assumption that acceptable by the public. This type of advertising that focus on image making informs the public about management policies and designed to suit their interest and need or tries to remove existing misconceptions. About the organization.
A public relations advertising is geared towards changing existing beliefs attitude and opinions of the internal and external public of an organization for good.
Noor (1997) outlined some condition that can make an advertisement to be a public relations, they includes;
- It must present a company as a good place to work in.
- It must try to off-set unfavorable publicity and negative attitude towards the organization.
- It must educate, inform or impress the public on the organization policies, functions ides facilities objectives and standard.
This is making tool that help to complement the effort of other promotional tools, it reflects a market oriented, public relations and so it can be referred to as a tool of public relations.
Okoye (2001) noted that publicity is a marketing tool that takes the audience off-guard, since it come to them to inform of news, publicity involves seeing editorial space in all media read viewed or heard by a company customer in prospect. This is for a specific purpose of assisting in meeting of sale goods. Publicity message come inform of news talk, news release or editorials and the management to create news worthy even that are capable of attracting the interest and favor of the press. By placing such news, Worthy information on radio, television or newspaper. The firm is attracting the interest attentions and sympathy of the public to them since makes the public to consider the organization to be a good one.
Some organizations produce product that are attractive and of better quality to the consumers, they sometimes give free product or its sample to the public such free gifts and quality aimed at attracting the attention of the numerous public towards the organizations. Some companies target the organizations, some companies target the stake holders or community heads in the distribution of these free product especially during festive period. All these are attempts to maintain good relationship with the public and that is the foundation of corporate image.
Some firms are small in size and scope that they consider themselves as being not capable of competition with the larger companies. The smaller ones assume that the large companies have already established themselves as the leaders of the industry and so going into competition with them will result to what is called “Majority Fallacy” such assumes always ensure that the firm choose to remain the way they are.
PHYSICAL ENVIRONMENT ON THE FIRM
Most companies use their physical environment such as their premises, building, vehicles, tools and equipment such as attracting attentions of the public, clean vehicles and neatness of the employees to work are all the strategies involve in creating positive image. This is why some companies keep on changing vehicles uniform and kits of their employees just to attract descent comment from the public. The company believed that their image is the way they appear in the estimation of the public and so they try to maintain their physical environment since tits part of what the public may consider about the company’s image.
PROBLEM OF BAD COORPERATE IMAGE
A firm with a bad corporate image is like one with bad character. The bad image ensured that consumers and general public assumes not everything is wrong with them. This feelings by the public could manifest to any of following;
Lack of Trust by Customers
Once a firm has image that will affect the public and will make the public not to have any trust on such firm, there is virtually anything the firm can do to please the public. This is similar to a person who is not trustworthy the public will find it difficult to believe him.
Loss of Profit
The fact that the firm is losing market share may equally result to loss of sales volume and profit. When such situation continues the company may not last long in the business.
Loss of Market Share
It is because the public have no faith in such a company many of them will withdraw from patronizing them. They will equally discourage their friends and relations from the firm. This shows that the firm’s poor image will cost them massive loss of market to their competition.
Attack and Criticism
There is likely to be criticism from the public against such a company, the public that are likely to criticize such a company is the consumerist, human is the right activities, environmentalist and other government agencies these public are not directly affected by an organization business operation but have a special or vested interest in the affairs of such organization most of these activities and environmentalist are ready to shake their live to achieve a particular course of public interest.
TYPES OF ORGANIZATION PUBLICS
There are some set of publi8c that have actual or potential interest or influence on the firm business dealing. The public are any group that is interested in or affected by the business activities of the firm. They are group of people with direct interest in a company and are able to harm the company in case of inadequate communication.
SOME OF THESE PUBLIC ARE
FINANCIAL PUBLIC: These are the financial communication that can influence the ability of the company to obtain loan or funds. These public includes bank, Investment house, Brokerage firm, Issuance house etc. the firm has to establish goodwill by communicating especially in take-over and new issue or public their annual reports and financial statement in order to attract the interest of the financial public supporting them financially.
MEDIA PUBLIC: These are the public that relies onto any new features and additional opinions about the company. The media public includes newspapers, magazines, radio and televisions stations the media public can turn to a positive neutral and negative force in the company fortunes. This is a way company influence the media by creating newsworthy events and interesting new item that can attract the press. The firm communication strategy usually aim at cultivati9ng mutually beneficial relationship with the media so as to avoid unfavorable and unwanted media\ coverage.
GOVERNMENT PUBLIC: They are the top public that formulate the rules and regulations that intervene in marketing decision about price, product feature packaging, promotion etc. the role of government is to act as watch dog to see that market act according to the society best interest. This is why numerous law are passed that tends to regulate constraint and in many instance actually control with government rules and regulation in other to enjoy the support of government public.
EMPLOYEES PUBLIC: The people working, both manager and other belong to the firm internal public or concern should be the maintenance of good employee relation . there is already an internal communication structure through which the communication with their internal public such constant communities it necessary as it help to bring the employees closer to the management of the firm. Such communication will enable the firm to resolve internal issue like wage and salaries situation. Industrial relations, polities and minority issue.
2.3 SUMMARY OF LITERATURE REVIEW
The research had been able to review the work done by other authors in the area of cooperative image. The views of authors reviewed are not completely different as well them seen to be pointing at one direction which is that corporate image is the way the company appears in the estimation of the public, they also noted that good cooperate image is an asset to a firm as it help to maintain various public.
There are several tools in which a company can use in building a good corporate image, some of them are publicity, institutional advertising, position of good product, community development effort and good physical environment. The public served by a business are numerous, they include employees government media, financial and general public. These are groups that are either directly or indirectly influence the firm marketing programes and so companies put in consideration in formulating their marketing programes