Speaking of reputation, a new study of corporate image shows that a sterling reputation within your industry does not necessarily translate to clout with consumers. The study,
"Gaining the Winning Edge," was released by Brouillard Communications last month and includes data from 1,250 interviews with high-end consumers and Fortune 1,000 execs.
Respondents were asked to rank the attributes of a winning reputation. While the 350 senior Fortune 1,000 execs value financial performance, earnings growth, innovation and
quality products, the 650 consumers favor social responsibility, including environmental responsibility, corporate contributions and community involvement. The clincher -
consumers and industry insiders alike give companies with winning reputations a significant competitive edge. Respondents were four times as likely to:
- Invest in a winning company or recommend the purchase of its stock;
- Select a winning company as a joint venture partner;
- Pay a premium for the company's products or services; and
- Give the company the benefit of the doubt in a crisis situation.
(Brouillard: Scott Matter, 212/210-8628)