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BMW a company of strong repute, say consumers
Survey reveals BMW's place ahead of Disney, Rolex and Google for reputationPrestige brand BMW has scored 78.39 out of 100 in an international corporate reputation survey taken earlier this year. That score elevated the company to the number one spot in the survey, leading home The Walt Disney Company (with a score of 77.76), Rolex (77.23) and Google (77.15).
And BMW was the only company to place in the top five of seven different 'dimensions' in the Global RepTrak 100 survey, conducted by Reputation Institute during February and March of this year. 55,000 respondents were interviewed for the survey, in 15 different markets – including Australia, one of the markets where BMW posted the best result – to determine the brands that boast the best marketplace reputation in the world.
“At the BMW Group, trust is the bedrock upon which we operate and it provides the foundation for our brands to grow,” said Bill McAndrews, Head of BMW Group Corporate Communications.
“For years, we have been cultivating relationships with all of our stakeholders based on consistency and reliability. The result is a culture of ongoing communication based on trust.”
BMW's strong showing in the survey contrasted with Apple's, the IT company dropping out of the top 10 in this survey – down from 5th to 12th. Reputation gains are often worth more, in fiscal terms, than can be easily quantified, according to Reputation Institute. The 2013 Global RepTrak 100 survey showed companies enjoying a seven per cent improvement in customer recommendation ('word of mouth') with a five-point gain in reputation. But only 20 per cent of business leaders are willing to focus marketing efforts on raising a brand's reputation.
“The best companies in the world like BMW, and The Walt Disney Company work systematically with their reputation. Reputation is an integrated part of their company strategy and they are seeing the business benefits,” said Kasper Ulf Nielsen, Executive Partner, Reputation Institute.
The 'dimensions' to assess each company include: workplace, governance, citizenship, financial performance, leadership and products/services, innovation. Based on these criteria, according to Reputation Institute, BMW's reputation (and that of other companies surveyed) is skewed more heavily by its conduct as a corporate citizen, than by its products.
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