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Katrina Arcellana

Markpub

Public Opinion is the variety of ideas of private individuals and the sum of all their sentiments; it

is also the beliefs and attitudes of different persons. There are many approaches in studying public

opinion in a marketing perspective but there are four topics that are tackled in studying public opinion.

The four basic concepts are the study of quantitative measurement of opinion distribution, investigation

of the internal relationships among the individual and opinions regarding an issue, description or

analysis of the public role of public opinion, the study of media that spread ideas on which opinions are

based and the use of propagandists and other manipulators of this media (Zikmund, 2014). Public

Opinion is also used in determining various decision making processes, an example would be in the

election. Politicians use the public opinion of the mass to determine which areas they need to improve

on and which one to avoid in order strengthen their campaigns. Marketers also use public opinion as a

measure for one’s brand identity and to distinguish the needs of their target market

(Krishanamuthy,n.a.). There are informal and formal ways to measure public opinion. Informal measures

include Elections, Media, Interest group and lobbying, Letters and calls, protests, and straw polls.

Measuring the media is important to government officials and citizens because the media plays a vital

role in processing their beliefs. Television, social media and print media are important because of the

issue they choose to publish and how they portray it. The formal ways to measure the public opinions

are formal quantitative methods, focus groups and qualitative research. Quantitative methods include

face to face interviews, surveys, telephone interviews, internet interviewing and intercept interviewing

(Brooker, n.a.)

Corporate image is the building block of all the companies. It is the icon of the corporation in the

minds of the customers, prospects, employees and the local community. Corporate image is important

in promoting the business. A good image can lead to tremendous success while a bad image can lead to
the company’s downfall. Corporate image plays a vital role because customers tend to buy products and

services to the brand they trust. Costs go down significantly to the businesses that have a good

corporate image. Also, having good publicity to the mass can attract more customers to buy and get

attracted to their products (Kalb, 2004). There are two sides in a corporate image, the inside and the

outside. Both inner and outer must connect to real situations for it to be unique and persuasive to the

consumers. The vision of the company must be consistent all throughout the organization for it to gain

cohesion including the logo, color scheme, print materials, packaging, sales techniques, exhibitions and

a lot more. There are certain points that a company must follow in order to reach their target. The

Corporate image strengthens to get a wider target audience, it provides as the balance of the needs of

the company and the target market and it increases the value of the brand, products and services.

(Dennie, 2003). The Norwegian Customer Satisfaction Barometer was the first model to measure the

corporate image as the main focus on satisfaction and loyalty of the consumers and this was

incorporated in the European Customer Satisfaction index. The three indicators of ECSI are technically

secure and reliable company, company with good customer service, and company with good image.

Corporate image determines the customer’s loyalty to the brand or their product line (Carreras, 2014).

Lord McNaughthen defined good will as the benefit of having a good name and reputation that

is connected to their business. Good will is the main value of the business because it allows the company

to earn a higher profit. In accounting terms, good will is simply defined as “good will is the difference

between total value and net tangible asset value”. An example to fully comprehend the meaning of

good will is assuming that a business is worth 300,000 and the fixtures costs around 50,000. The stock of

the business is valued at 175,000 so the value of the good will becomes 75,000 (Hawkey, 2222). The

goodwill reputation of a company depends on the personal reputation of the management, the

reputation of the goods and the quality of the services they are offering and the advantage of their

locations regards with the consumers. (Gupta, 2013) Goodwill is also defined as the intangible asset with
a reputation and having customers to create a repeat purchase of the product. (Duhaime.org) Goodwill

is also considered philanthropic acts in some companies; they use this strategy as a method of public

relations or advertising and promoting the company’s image and brand. Most companies give donations

to organizations that are in need mostly hospitals or charities. One company, Coca-Cola, has built a

foundation to help improve the water system, lifestyle and education of several communities. Also, the

company helps major concerns in Africa like HIV/AIDS program.


References:
Zikmund, W. (2014). Study Guide for Essentials of Marketing Research, textbook by William G Zikmund.
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Jun. 2016].

Krishnamurthy, S. (n.d.). Contemporary Research in E-marketing. [online] Google Books. Available at:
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Brooker, R. (n.d.). “Methods of Measuring Public Opinion”. [online] uky.edu. Available at:
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2016].

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Hawkey, J. (n.d.). Exit Strategy Planning. [online] Google Books. Available at:
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