#product perception

[brandyana]

A beer can be very feminine

[brandyana]

A beer can be very feminine

[cocollected-blog]

The world's most reputable companies

A global private consulting firm, Reputation Institute, recently ranked 100 businesses that have successfully established strong international names for themselves and found that product perception is not actually the main driver for consumer behavior and companies investing in local are the real winners.

Through its analysis of scores from 47,000 consumers, it found that perceptions of the enterprise (workplace, governance, citizenship, financial performance and leadership) trumped product perceptions (products and services plus innovation) in driving behaviors. Kapser Ulf Nielsen of Reputation Institutes adds that “in today’s reputation economy, what you stand for matters more than what you produce and sell. People’s willingness to buy, recommend, work for, and invest in a company is driven 60% by their perceptions of the company and only 40% by their perceptions of their products.”

The study also shows that in order to win support and recommendations, a company needs to tell its story in a way that connects with stakeholders on a global level. "You need to be seen as a company who genuinely cares about stakeholders," says Nielsen. "The best companies are the ones who invest in local and global activities; the ones who are doing more than just selling their products. The companies who are seen as the reputation champions produce locally, employ local people, and engage in solving local issues in all markets.”

Source: Forbes