France Attack, Boko Haram, Volkswagen, Buhari and Fashola: How Reputation affects your Brand Equity?

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France Attack, Boko Haram, Volkswagen, Buhari and Fashola: How Reputation affects your Brand Equity? Image Credit: memeburn.com

In the wake of the ghastly bomb attacks that have seen no fewer than 150 confirmed dead and a scores of other left injured, today would forever be indented

in the memory of the French. Not of good memories but of pain, sadness and disgust for the perpetrators of the dastardly act, should they identified.

As expected in the media, speculations were abound for who may have carried out this sick activity, are underway. Top of the list of course were the ISIS whose trademark reputation involves mass murder of innocent civilians, even though the mutually hated group as at the time of writing this post, had not made any public statement about their involvement or claimed responsibility.

Which brings home a similar organized group of individuals that undertakes such activities: Boko Haram. As expected, any event that involves blood shed, a loss of both civilian and military life, human time bomb and related activities are associated with the group.

As the Federal Government headed by the ex military General, President Mohammed Buhari, attempts to eradicate and ensure the safety of fellow Nigerians from the actions of this mutually hated group, Nigerians believe they have gotten a man who could be capable of leading from the front- line. His reputation precedes him; adjectives such as brave, integrity, honest and a few other have been used to describe who he is as a person. Qualities which have endeared many to him.

A man of similar values yet of no military background in the mold of the new Minister for Power, Works and Housing, Babatunde Fashola is also a man well loved. His reign during the 8year term as Governor saw him endeared to the people of Lagos, where he governed over, and as such, was one of the few nominated ministers who drew a large consensus of approval to function, prosper and merit his new role. Should he excel in his new role like he did as Governor, it is no doubt that, we may have seen the next President, sooner or later, in the quest for good and competent leadership, to lead Nigeria forward. I'm sure it may have crossed his mind once or twice.

reputation

An organization's reputation endears or repels customers to or away from the brand.

All of the above examples are a spill over of one's reputation, which has an impact on personal gains that propels one's ambition, endeavor or an organization's bottom line report. It's all that matters. What an organization stands for endears or repels customers to or away from the brand.

Take for example, the Volkswagen scandal that has forever tainted the image of the brand. When the news broke of how it manipulated its emission report, customers and other stakeholders became furious of the organizations negligence and dishonesty. Shares, sales and trust in the brand dropped and up until this point, the collateral damage still ensues. How long this continues to take a downward spiral depends largely on how soon the firm can gain the trust and confidence of its customers. Building trust and affinity to your brand is a function of your organizational values and value proposition.

At the heart of your organization's values and value proposition is one question: Why is your organization in business? Which could translated to what the organization stand for? There are several facets to this question depending on which stakeholder need is addressed, providing an answer to all of this questions is the first step to building an organization with positive reputation.

If reputation is defined as the way an individual or group of people are viewed, your organizations worth, value and sales are dependent on what your brand stands for and how the organization is perceived. It'll ensure emotional attachment to your brand, serve as a competitive advantage and prevent entry of being usurped by some new brand in your industry.

All of this enhances your brand equity, which is just a fancy word for the ability of an organization to generate money with a particular brand name, than by other competing brands. In shorter description, it is the monetary value of a brand.

For organizations to reap benefits from its reputation all things being equal, a proper look at its values needs to examined and well defined with consistencies at adhering to these tabled out detailed. However, this is not to say all other aspects that make for a good brand or organization, namely product usefulness, appeal, etc., can or should be overlooked.

Read 689 times Last modified on Monday, 23 November 2015 08:32
Aziz Sadiku

He works as Brand and Content Strategist in an organization he co-founded in Germany. As an M.Sc graduate of the Hochscule Furtwangen University, building loyalty that drives commerce to an organization, both offline and online ticks his interest. His hobbies include reading, chess, the game of football and trying new things!

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