Goodwill is the identity of the business in the market. It is intangible business that showcases value of identifiable business assets.

1.  Confidence: The Company that has good-
will is able to inculcate confidence not only
in the minds of the buyer but also in the
minds of the employees who are working in
the organization. Employees get motivated to
put in their best to maintain the goodwill of
the company which will in turn enhance the
productivity level of the organization and
result in elevated sales and profit figures.
 Business growth: Goodwill aids in
growth of the business. With customers glu-
ing to the product, new customers accepting
the product, the sales and profit figures are
catapulted to the new level which results in
growth of the business.
Goodwill is the ar-
mour in the compa-
ny’s ambience with
the help of which it
allures the mammoth
audience and cap-
tures the majority of
market. With the
help of
goodwill
company is
able to
reach new
levels of
growth,
plan for
expansion
and diver-
sification.
WWW.COSMOFILMS.COM
 Recognition: Goodwill acts as identity of the
company in the cut throat world of competition. It is
with the help of goodwill the customers recognize and
accept the products of the company. If the company
has goodwill in the market, the customers readily ac-
cept its product.
 Trust and confidence: Goodwill incul-
cates trust and confidence in the minds of the custom-
ers. Customers develop trust in the products and ser-
vices of the company that has goodwill in the market
and readily buy the products.
 Withstand competition: Firm that
has goodwill in the market can withstand competition
and is able to sail through the competitive atmosphere
very easily. Customers get enticed with the product of
the company and readily opt it amidst other competi-
tive products.
 Selling business: Company with good will
has high saleable value and gets easily absorbed or
merged with other reputed company.
 Customer retention: Goodwill aids in
retaining existing customers on one hand and on the
other it aids in alluring the new target audience. Cus-
tomers prefer to stick to their brand for umpteen num-
bers of years if it has goodwill in the market.
There are many points
why a business needs
goodwill in
the market and
few of them are as
follows:
Goodwill is the identity of the business in the market.
It is intangible business that showcases value of identi-
fiable business assets. Its fame and name and how it is
viewed by the target customers in the world of compet-
itive environment. A company which has perfect good-
will in the market succeeds in roping in mammoth tar-
get audience and gets elevated sales and profit figures.
Goodwill is in fact the report card of the business that
epitomizes its success.
Why your
Business
Need
goodwill
Say for e.g. women prefer to use the cosmetics brand
that has goodwill and that is widely accepted.