Brand reputation is more important than ever with consumers anchoring their trust in companies they like and going online to tell of poor experiences, a new global research project has found.
According to Marketing, a study by PR network Weber Shandwick suggests consumers are taking their thoughts about brands online with 43 per cent likely to discuss a corporate scandal via new media.
When it comes to purchasing products it appears reputation plays a vital role with around 70% of survey respondents saying they avoid buying products from companies they don't like.
The survey found unknown commodities are also a problem for consumers with 56 per cent saying they hesitate to buy a product if they cannot tell which company made it.
But it's not all bad news. The study found online media is used by 37 per cent of consumers to mention good corporate deeds.
The survey also offered some interesting results on advertising effectiveness.
Researchers claim 86 per cent of brand executives believed advertising influenced a brand's reputation while only 56 per cent of consumers said it affected how they saw a product or service.