What is difference between image and goodwill?

Image refers to the perception or representation of a person, brand, or organization as perceived by the public, often shaped by marketing, reputation, and communication. Goodwill, on the other hand, is an intangible asset that represents the value of a company’s brand, customer relationships, and overall reputation, typically reflected in its financial statements during business valuations. While image focuses on external perception, goodwill encompasses the broader, long-term value derived from that perception and relationships built over time.