To a lot of people the term reputation management means repairing the reputation of an individual or a business.
We like to make the distinction that reputation marketing is about building a great reputation for a brand and/or location and then telling people about it. It is evident through many recent studies that getting reviews from customers on important sites like Yelp, Open Table and Google Plus can influence search rankings and customer behavior. Good reviews produce trust. If you love your customers and take care of them, they will reward you with reviews if you make it easy to do so.
For a very good definition of reputation management, check out this entry from Wikipidia.