How can a Business get rid of the Bad Name that it has earned?

The first impression is often a lasting impression. This is especially true in case of reputations of corporates.Regaining the good impression that is once lost is an uphill task but is by no means impossible. A couple of steps that seem simple but take incredible effort on the part of the company that has lost its reputation include: Accepting the incident/ event that has caused the loss of reputation, Remedying the situation by the company, and following visible steps to ensure that the same incident doesn't repeat itself.

Remedying the situation is bound to prove costly to the company, however this is a cost which must be borne since the loss in number of customers due to the ruined reputation could prove even more disastrous.

The business can get rid of bad name only when it fully satisfy the consumers because business earn good reputation and maximum profit only when consumers buy their product. And the product should be cheap and good so that more consumers are attracted to buy.

The companies have a aim to maximize profit in all circumstances but it can't be done without customers satisfaction.

So, first of all, it is needed to have a good behaviour with customers because rude behaviour is acceptable by none, and it can be major reason of company's bad reputation. Every customer should feel, they are the only one.

Find out the causes governing the bad reputation and execute the solutions as soon as possible because of today's cut throat competition. The solutions should be somewhat visible and satisfiable to the customer.

The Media should be handled properly and effectively as the media has the great impact on people by doing so a company's good will can reach to each and every person who had been affected atleast once and never leak the information about the internal hazards that company following because of bad reputation, show that its running well and working in faith of customer and never let opposition to take advantage of your company's bad reputation.

Make a time to time survey and Add new and advanced features to the product as a surprise package, according to customer's need before your opposition and keep an eye on them.

I think goodwill of a business is prime important factor in its success and growth but as a businessman think and plan things it may not come in its way there may be different reasons which can create its bad image example-the relationship of the staff with the customers is rude, quality have been lowered, prices have increased and many more things. Now the only way for a businessman to get rid of this is to improve the factors causing the bad image, if posible change the location and name because it take lot of time to maintin goodwill but take a minute in spoiling it.

When a bad reputation strikes, the preliminary thing that has to be the finding out of what is the factor is, and the realisation that it could pull you all the way down. It is war time and execution is to be done at the max speed, hence the strategy should be implemented too fast. It should also be made sure that the solution is known to the public, ie, each and every one of the affected ones at least. Media should be handled appropriately and should be tide turned so as not to get the opposition.

If the company's image is spoil the company will take action as soon as possible like Eg. Cadbury. After bad image they will promoting their band, product and get the faith and trust.

When any company received bad reputation. There may be mainly two reasons, first is quality of product and second is corruption. When any of the condition arise which affects company's reputation. The company should take instant step to sort out this problem immediately. Firstly all the causes should be identified & the suitable steps should be taken to regain the trust of their customers. For example when Nokia found that there was some problem in the battery of in some models of its mobile. Then company immediately offered their customers to replace the battery by new one. This immediate step keep their customers all times satisfied.

On one side big companies can easily come out this types of situation because their name is enough to win the faith of customers. But the bad reputation creates much problem for smaller firms which are localized to small region and doesn't have large capital. When the company gets bad reputation at that time company's member should approach their customers to get the feedback & then immediate steps should be taken to come out the situation and regain the customers faith & satisfaction.

A bad reputation to the business is one of the major reasons that would reduce the turnover as a whole. Doing a business on loss is of no use. First, I will make a study on the causes and see how it can be rectified. To make people/clients/customers or whomsoever to gain their confidence back on my business deals with them. Change the name, like the axis bank did. Make people believe that its an entire different company. Implement new marketing and advertising strategies to attract more people. Lastly, that should be a lesson. I will never ever let it happen again.