Grounded in signaling theory and stakeholder theory, this study aims to explore why corporate reputation matters in the biopharmaceutical industry, specifically within the context of Germany’s SARS-CoV-2 vaccine market. Given the pandemic’s unprecedented challenges and rapid innovation cycles, understanding how intangible assets such as corporate reputation influence patient loyalty has become critical for sustaining competitive advantage and public trust. This study investigates how patients’ perceptions of vaccine products, competence and likeability of manufacturers drive loyalty and what strategic levers companies can use in times of high medical uncertainty.
This study conducted a cross-sectional, anonymous survey of 218 German patients who received the SARS-CoV-2 vaccine, using an independent, non-interventional design. Partial least squares structural equation modeling was used to examine complex relationships.
Core product quality, company performance, patient satisfaction, company likeability and competence collectively accounted for 77% of patient loyalty. Compared to other industries, the findings underscore that being perceived as highly competent by patients is relatively more crucial for success than emotional factors like likeability. Amid high unmet medical needs, a scientific excellence profile and mRNA-technology breakthroughs are key success drivers.
Enhancing the intangible assets of corporate reputation and patient loyalty for SARS-CoV-2 vaccines was most effective when strategic marketing emphasized the vaccine’s core value proposition. Highlighting innovative technology, ensuring high-quality perceptions and presenting an attractive risk–benefit profile successfully fostered patient loyalty. In Germany, high perceived vaccine switching costs give a competitive edge by aiding patient retention.
This study extends Eberl’s corporate reputation model by applying it to a high-risk health-care setting, demonstrating how reputational signals influence loyalty through satisfaction, in line with signaling and stakeholder theory. Furthermore the model is extended with the moderating role of perceived vaccine switching costs during the global health crisis, providing novel insights into factors driving success in this unique context.
