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Essay / Research Paper Abstract
This 3-page paper focuses on the question of the value of reputation, particularly as it pertains to branding. Bibliography lists 4 sources.
Page Count:
3 pages (~225 words per page)
File: D0_MTbrarep.rtf
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Unformatted sample text from the term paper:
involves much more. Its safe to say, in fact, that branding is a mark of a companys reputation, as well as a companys value in the marketplace.
But what, exactly, is a brand? In its simplest form a brand is a companys identifier, described as a stamp of individuality and an identity
that sets something apart from everything else (such as the competition and so on) (Klayman, 2000). Brands are so important to companies that literally millions are spent (both in time
and money) building these brands and ensuring they remain in customers minds (Klayman, 2000). A solid brand name means a solid reputation of trust for a company - and that
solid reputation of trust means more consumers are willing to purchase the product or service offered by the company. A strong brand is also a companys reputation; take famous brands
like Campbells Soup, Johnson & Johnson and Crest toothpaste - the brand names bring up images of longevity and trust, which is why these products do very well in their
markets. Andrew Dolbeck notes that in the financial services industry especially, a good brand name is essential - as banks rely heavily
both on brand and reputation (Dolbeck, 2003). This makes sense; banking primarily works only if a consumer is willing to trust the institution with large sums of money (Dolbeck, 2003).
Dolbeck goes on to note that in the current economy, and given the corporate scandals in accounting, brand value has been impacted,
and not in a good way (Dolbeck, 2003). While the Arthur Andersen name is poison (because of Enron) other brands that took a hit and saw their value drop include
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