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Essay / The Definition of Brand Reputation - 752
Brand reputation encompasses the values supported by national and external strength towards a house. It is also significant to note that a brand's reputation is built over a long period of time and that if these values are constantly positive, the reputation will also be positive (Herbig & Milewicz, 1993). Also prevalent in the above definitions is the fact that reputation is the values and beliefs held by an individual/consumer towards a particular company. Additionally, a brand's reputation also depends on the flow of data from one user to another. Therefore, opinions expressed about an organization are mandatory in the company report. Therefore, the above definitions all contribute to and explain some facet of brand reputation. The definition of brand reputation that will be used in this research is: “reputation refers to the more universal emotional response that a person has towards an organization due to its actions over a longer period of time” (Friends 2003, p 191). This definition will be applied because it intersects the two most common trends in the definitions above, namely that reputation is acquired over time and that it constitutes an individual's response to a establishment. The importance of brand reputation as an intangible resource stems largely from the immense choice available for most products or services and the limited amount of time or experience available to consumers (Friends , 2003). So, being able to rely on a positive brand reputation to help with decision making is important advice and can be designated as a major asset. This occurs when people have strong, favorable, and unique associations in memory about the corporate brand (Keller, 1993). Even so, this usually develops over years of higher exposure. paper......that is, its relationship with a company's revenue when a company's reputation increases and its sales subsequently increase. For a stain to be successful, the business must have produced a positive reputation, so a business with a good overall reputation owns it. a valuable asset (Milewicz & Herbig, 1994). Firms with a good reputation have turnover within their sector, but firms with a poor reputation discriminate Fombrun and Shanley (1990). Furthermore, if a company wishes to expand its product line, a well-known brand name may prove useful in facilitating user acceptance of the new product due to its existing brand reputation (Herbig and Milewicz, 1993 ). However, reputation is fragile and can easily go unnoticed. Once a reputation is lost, it takes seven to ten times more effort to repair it (Herbig and Milewicz, 1993). Thus, reputation requires careful management and diligence..