Building Brand Image with Ethics Essay

3275 Words Nov 8th, 2014 14 Pages
Building Brand Image With Ethics

The Positive and Negative Effects of Ethical and Unethical Behaviors on Brand Trust

Executive Summary

In the market of today, businesses are faced with complex situations where they not only have to make decisions for the better of the company, but also for the better of society. In an economy and market that thrives on the competitiveness of various companies, business officials must abandon the focus on profit and focus on the needs of their consumers. Businesses cannot thrive without the support and trust of their primary and secondary stakeholders. These can include – consumers, employees, media, community leaders, etc. Businesses work to build and maintain meaningful
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The same can apply to the way that Hondas and Toyotas are associated with reliability, and Wal-Mart is associated with affordability. Brand Image can be negative or positive. A brand's image coincides with its identity; benefits, attributes, performance, quality, service support and values. The image of a brand can also be strengthened through brand communication, such as advertising, word-of-mouth, other promotional tools, etc. Brand identity is the way that a business wants to be seen while brand image is the way that business is seen. It is the brand image that alters consumer opinion and allows a company to standout from the others it is in competition with. Brand image has an effect on brand and consumer trust and confidence.1

Brand and Consumer Trust

Trust is an important factor that influences human communication at all levels. J. Rotter, author of “Generalized Expectancies for Interpersonal Trust”, defines trust as “a generalized expectancy held by an individual or group that a word, promise, verbal, or written statement of another individual or group can be relied on.”1 As consumers, the propensity to trust, is the inclination, bias, or desire to trust people. It varies amongst them depending on one's views of the brand image. This propensity may be affected by either personal experience or conditioning. The propensity to trust is just the starting point of establishing trust. As humans, we

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