Marks & Spencer has topped the list of 10 companies named by the Confederation of British Industry (CBI) as having the best reputation among UK consumers.
Supermarket giant Tesco and UK number-two retailer Asda also featured in the top 10.
The second place was given to department store chain John Lewis came in second place, followed by Virgin, in at number three.
The line-up was completed by electronics firm Sony, online retailer Amazon, entertainment giant Apple, pharmacy and retail chain Boots, and the BBC.
The research, based on a YouGov poll of 1,960 adults, highlighted the commercial value of a good reputation.
A total of 58 per cent of respondents said they would pay more for a product sold by the company they held in the highest regard, even if it were available cheaper elsewhere.
Top-notch customer service was considered the factor most likely to enhance the reputation of a company, by 48 per cent of those questioned, and 36 per cent said the delivery of products and services that met expectations made for an image boost.
Seven per cent said having a good reputation stemmed from being regarded as a good employer, while just four per cent attributed it to brand appeal.
A total of 42 per cent of respondents claimed poor customer service is most likely to damage commercial reputation, while 30 per cent blamed products that failed to live up to expectations, and 17 per cent pointed to business scandals.
CBI director general Richard Lambert said: “It is clear that companies can never be complacent. A great reputation takes a lifetime to build and seconds to lose.
“But the picture painted by our survey and report shows encouraging signs for businesses willing to go the extra mile and demonstrates that a good quality reputation is worth its weight in gold,” he added.
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