When someone buys your product, rather than your competitor’s, do you know what led him or her to that decision? Was it price? Was it quality? Or was it your company’s ‘reputation’? Most companies would probably say that a combination of those three factors was involved. In recent years, other factors such as your company’s approach to the environment, your approach to social issues, and the way you treat your employees and care for your suppliers have all become major considerations. Many companies consider them the keys to attracting consumers. However, the study, “Perception of Social-Corporate Responsibility: A Cross-Cultural Analysis” shows that, in many cases, reputation does not influence customers’ purchasing decisions.
The World Wide Web has become a display window where companies can easily display their secrets. This development, combined with environmental protection and the rise of non-governmental organizations (NGOs) has spawned a growing concern for a range of intangibles that come under an umbrella known as “corporate social reputation.”
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