Corporate Credibility - Essay Example

Corporate Credibility Affiliation: Corporate Credibility Corporate credibility refers to the perceptions of consumers and othercompany stakeholders towards the expertise and trustworthiness of a firm. It describes the believability of a company’s communications and intentions at a certain point in time. With corporate credibility, an individual can examine whether a firm does what it promises to do. A firm’s credibility is vital in terms of making it succeed in its branding and marketing strategies.

When a company lacks credibility, consumers question the validity of the claims that it makes, making them less likely to purchase the products and services it offers. As such, it is true that corporate credibility plays a major role in facilitating for the effectiveness of different types of marketing communications a firm employs to influence the manner in which clients react to advertisements, promotions, and brands (Goldsmith et al., 2010). Corporate credibility depends upon three different factors.

These include attitude of consumers towards the advertisement, attitude of consumers towards the brand, and purchase intentions of the clients. Advertisements play a major role in notifying clients about a certain brand in the market and its features (Carroll, 2015). While advertising a product, a company needs to analyze its target audience to determine the mode of advertisement is appealing to them. In this case, when the mode of advertising is appealing to the clients, they are highly likely to develop positive perception towards a company and seek for its products.

Nonetheless, if the mode of advertisement is inappropriate, clients develop negative perceptions towards the firm and may not be willing to purchase from the firm. The brand that a company makes should be appealing in terms of names, packaging, taste, and ability to meet the needs of the client. In case a product lacks these features, then clients would discredit the company and refrain from purchasing its products and services (Carreras et al., 2013). Furthermore, the purchase intentions of a client also influence the credibility of a given organization.

A firm should not force a client to purchase a product that he or she does not want. This is because a client knows his or her tastes and preference, meaning that if a firm forces a customer to purchase a product he does not want, then he or she would develop negative perception towards a firm. In this case, it is true that a company should consider the three different factors upon which corporate credibility depends to avoid being discredited by its loyal clients (Goldsmith et al., 2010). Deloitte is considered as one of the most credible companies.

The company concentrates on people and talent, and emphasizes on organic growth in terms of consulting data analytics, human capital, and Deloitte Private Brand. Deloitte has been highly successful in building a culture of transparent and open communications. As such, the company has managed to attract top performing talent from different parts of the world, providing additional growth opportunities for the company (Big4, 2015). In this case, it is true that Deloitte fits within the three forces that influence corporate credibility.

Based on the reputation the company has gained worldwide, clients have developed positive perception towards advertisement strategies and brand of the company. Furthermore, clients tend to purchase services from the company willingly based on the openness it exercises in the market place. References Big4. (2015). Deloitte: Deloitte Listed Australia’s Most Credible Company in ‘Great Places to Work’ Survey. Retrieved from http://www.big4.com/news/deloitte-deloitte-listed-australia%E2%80%99s-most-credible-company-in-%E2%80%98great-places-to-work%E2%80%99-survey/Carreras, E.

, Alloza, Á., & Carreras, A. (2013). Corporate reputation. New York: LID Editorial.Carroll, C. E. (2015). The Handbook of Communication and Corporate Reputation. New York: John Wiley & Sons.Goldsmith, R., Lafferty, B., & Newell, S. (2010). Influence of Corporate Credibility on Consumer Attitudes and Purchase Intent. Corporate Reputation Review, 3(4), 304-318.