Corporate Images, Attributes and the UK Pharmaceutical Industry
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Volume 4 Number 2
Corporate Images, Attributes and the UK Pharmaceutical Industry Hilary Wright Taylor Nelson Sofres Healthcare, UK Chris Fill University of Portsmouth, UK
ABSTRACT This paper presents the findings of a research exercise carried out to determine the attributes used by UK General Practitioners and Pharmacists to form images of ethical drug manufacturers. Using attributes from similar studies in the USA and Greece, this omnibus-based research program finds that Drug Effectiveness is the main attribute used by the medical profession to form images of pharmaceutical companies. All the attributes tested appear to contribute to the images formed of these companies. General practitioners appear to form distinct images of pharmaceutical companies, unlike pharmacists whose indirect and direct rankings suggest a more variable perception. Glaxo and AstraZeneca are perceived to be the most reputable of the companies in the sample. INTRODUCTION An increasing number of companies are aware that a favorable corporate image can provide a company with a distinctive and credible appeal (Worcester, 1986; Hall, 1993; Markwick & Fill, 1997; Greyser, 1999). Companies can no longer rely on their products and services as a means of effective differentiation and added value. This is due partly to the convergence of capabilities and standards of quality and partly due to the increasing requirements for accountability and transparency. Developing a positive corporate image is regarded by many as a more effective form of differentiation and a source of competi-
tive advantage (Dowling, 1993; Clarke, 1997; Knowles, 1999; Anderson, 2000). The creation of a suitable image through identity management requires a substantial investment, in both time, management effort and financial resources. It follows therefore, that the return on the investment should be clear and identifiable. The following represent some of the returns that can be generated from a favorable image: increased sales, support for new product development (Yeoh, 1994), stronger financial relations (Goldstone, 1998), improved employee relations and recruitment (Smith, 1993), faster recovery from crises (Dowling, 1994) and the development of emotional values (Brinkerhof, 1990) which can improve brand values. The increasing attention given to corporate image is illustrated by the vast amounts of money now being spent by UK businesses in developing their corporate identities. Fifty five per cent of the top 100 UK companies have invested in radical development of their identities within the last decade (Williams, 1998). Mergers or privatization are often the instigating factors for the new identities, but the advent of consumerism in the industry and other pressures mentioned earlier mean that pharmaceutical companies are using their identities more prominently to endorse their products. New audiences provide fresh opportunities for companies to promote their identity. Communicating with multiple
Corporate Reputation Review, Vol.4, No. 2, 2001, pp. 99–110 # Henry Stewa
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