Effective Corporate Image Management as a Strategy for Enhancing Profitability

Abstract

Organizations are nowadays concerned with managing their corporate image. There is a strong positive correlation between people’s perceptions of a company and pro-corporate supportive behaviour. In this study, past researchers on corporate image were incorporated to create a platform for framework which identifies the variables of relationship between corporate image and customer loyalty cum profitability. The study utilized descriptive statistics, bivariate correlation and linear regression to investigate the impact of corporate image on customer loyalty and profitability within the Nigerian service industry (banking). The study adopted the research instrument of self-structured questionnaire which was in line with the reviewed literature and focused on the main variables in the study. It was found in the model parameters that physical environment, service offering and customer loyalty have significant impact on the level of profitability. Thus, we can rightly conclude that the level of satisfaction among customers tends to affect the service offerings and customer loyalty which has a direct link with corporate profitability.