Final answer:
Corporate credibility is built on expertise, trustworthiness, likability, referrals, testimonials, emotional engagement, and long-term relationships with customers.
Step-by-step explanation:
The factors that contribute to corporate credibility include expertise, trustworthiness, likability, referrals, testimonials, and emotions. Moreover, the long-term relationships that a firm establishes with its customers are indicative of its credibility. A business that is able to maintain these relationships usually enjoys a good reputation, which in turn leads to repeat business and recommendations to others. This is important because a company's concern for its reputation can affect consumer perceptions and willingness to pay for its goods or services. A company's expertise is shown by how well it knows its field, and its trustworthiness is demonstrated through honest and unbiased practices. Likability can be influenced by different factors, such as the physical attractiveness of representatives or the emotional appeal in messaging. Strong referrals and positive testimonials can influence new customers by highlighting others' good experiences with the company. Finally, long term customer relationships signify the company's commitment to quality and service, further enhancing its reputation and credibility.