EFFECTS OF CORPORATE REPUTATION ON MARKETING PERFORMANCE OF NIGERIA BUSINESS ORGANIZATION
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EFFECTS OF CORPORATE REPUTATION ON MARKETING PERFORMANCE OF NIGERIA BUSINESS ORGANIZATION
ABSTRACT
This study investigates the effects of corporate reputation on marketing performance of Nigerian businesses (a case study of Cadbury Nigeria PLC, Ikeja). This study drew on a large body of literature. 287 questionnaires were prepared and distributed to respondents, with 117 extracted from them.
Data obtained through questionnaires were analysed using the simple percentage approach, while hypotheses were tested using the analysis of variance (ANOVA) with the use of statistical software for social sciences (SPSS). The researcher found a favourable and substantial link between the dimensions and measures.
The study proposed that organisational management strive to prioritise corporate reputation management in day-to-day operations, and that manufacturing company management be socially attentive to their environment and communities of operation.
They should always set performance standards through managers, and employees who meet or exceed those standards should be rewarded.
Chapter one
INTRODUCTION
1.1 Background for the study
Reputation is a set of shared perceptions about a company’s capacity to meet the needs of its many stakeholders. Corporate reputation can be a crucial contribution to an organization’s success, but it can also be a factor in its collapse.
Studies on corporate reputation can assist organisations in gaining a significant competitive advantage, improving stock market performance, and increasing performance values on other measures.
It demonstrates that developing a good reputation is an essential basis for today’s businesses that want to outperform the competition, improve their market outlook and financial performance, and ensure their long-term survival.
In light of the competitive nature of business organisations in gaining a foothold over their competitors, management tends to look beyond the traditional system of management and production of goods and services and drive towards building an image that will allow them to achieve their goals and objectives through corporate reputation management.
The concept of business reputation management has been in existence and evolving over time. According to Ladipo and Rahim (2013), the word corporate reputation has “developed with the passage of time to become a strategic and intangible corporate asset and it has been used in daily life, business, and politics, etc for a very long time”.
Nowadays, reputation is increasingly valued as a critical aspect in an organization’s competitive advantage (Cramer and Ruefli, 2014). Corporate reputation has become a “hot” topic in recent years, with research tying a positive corporate reputation to a variety of intangible and physical benefits.
Reputational problems frequently present possibilities for reputation growth. If a challenge is managed poorly, reputation can suffer; if handled successfully, reputation can improve (Goldstein, 2010). In other words, corporate reputation may be a crucial aspect in crisis response (Schnietz and Epstein, 2005).
Corporate reputation, as a concept, focuses on assisting organisations in achieving a strong competitive advantage, improving investor market performance, and increasing performance value on other metrics.
Companies gain a competitive edge by improving stock market performance as well as performance values on other metrics. Cultivating a good reputation is essential for today’s businesses that want to outperform the competition
improve their market outlook and financial performance, and ensure their long-term survival. Corporate reputation management aims to improve an organization’s (positive) image and hence its performance.
Aaker and Myers (1975:138) state that
“It is not an exaggeration to state that a good image is essential to the survival of any company enterprise. The concept of image is frequently seen to be a crucial predictor of long-term sales and profits.
As a result, it is fair to view the employment of image as a goal not only for an advertising programme, but also for a marketing programme and an organisation in general.
Finally, in order to achieve public support, the corporate image must demonstrate that management is progressive, adaptable, open to innovation, fair to all, and free of dogma and convention. Effectively creating and developing a business image mostly involves articulating the bank’s
To acquire the goodwill of its many audiences, it communicates its objectives, beliefs, reputation, and achievements.
2.1 Statement of Problem
Corporate reputations have been defined as a set of collectively held beliefs about a company’s ability to satisfy the interests of its various stakeholders
whereas corporate reputation management is a set of strategies developed by a company to cope with the expectations of its audience, manage the interpretations that those audiences make, and build favourable regard, value, and perception among stakeholders about them.
The difficulty is that most organisations’ management does not take their reputation into account in their day-to-day activities. Again, extant literature on corporate reputation management is centred on foreign case studies, with little attention paid to organisations in our own backyard, resulting in a knowledge gap that must be filled.
This study is thus carried out to find out the impact of corporate reputation management on organisational performance, with a view to determining its contribution to the on-time realisation of planned organisational goals and objectives.
1.3 Study Purpose
The goal of this research is to determine the influence of corporate reputation on the marketing performance of Nigerian businesses (case study of Cadbury Nigeria PLC, Ikeja). Depending on the study purpose, the objectives of this study will be:
To determine the extent to which integrity building influences organisational performance.
To determine the extent to which corporate social responsibility influences organisational performance.
1.4 Research Questions.
The following questions were posed in light of the aims stated above.
To what extent can integrity building improve organisational performance?
To what extent does corporate social responsibility improve organisational performance?
1.5 Significance of the Study
Image/reputation refers to the impression in the public consciousness. Every organisation strives for a positive image. Banks and bankers’ reputations appear to be at an all-time low, particularly among corporate entities.
It is critical that a solution be found as soon as possible to improve banks’ failing image. From this perspective, this study is critical in the struggle to restore Nigerian firms’ lost glory.
The study is also significant in raising public and Cadbury management knowledge of the function image management plays in bank success, using Cadbury Nigeria PLC, Ikeja as an example.
It will also help to understand the firm’s methods for developing, managing, and promoting a positive corporate image.
This study will aid the firm’s management by reviewing and explaining the situations and elements that contribute to image management issues. The study’s final suggestion will allow management to take appropriate measures to prevent these problems from recurring.
Finally, the study will be extremely beneficial to the industrial sector, customers, the general public, and academic students who intend to conduct future studies on the issue.
1.6 SCOPE OF THE STUDY
The research focused on Cadbury Nigeria PLC, Ikeja.
Despite the fact that the survey will be conducted with a small number of company employees, the conclusions are likely to be consistent with the opinions of employees from other organisations because they have similar experience, education, and training.
1.7 Limitations of the Study
Conducting research of this type is not without limitations. The main restrictions in this study work are:
Due to specific management strategies, banks have made evident attempts to classify the majority of the information required for the fulfilment of this activity.
Financial barriers or limits that increased the expense of conducting research.
Some staff members exhibit a biassed and uncooperative attitude. This limited the amount of information available to the researcher.
1.8 Definition of Terms
! Corporate Image.
This includes all of the visual, verbal, and behavioural components that make up an organisation and have been
portrayed.
! Corporate Identification
The symbol or features that identify or distinguish one thing from the other.
!Corporate reputation
A general view or idea of an organization’s corporate standing.
! Corporate Communications
It is the process of transferring or communicating a firm’s identity to the public so that they can view the company based on the signals it sends.
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