Brand Equity and Company Crises
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Transcript of Brand Equity and Company Crises
Team Brand SlamRyan Fox
Brent HollowayCarrie Martinelli
Michael RoyGarrett Smith
Brand Equity & CrisisManagement
► Brand Equity ► Key Topics ▪ What role does brand equity play in a crisis?
▪ Does existing brand equity hurt or help?
▪ What role does brand equity play in stakeholder response?
► Recommendations & Conclusion ▪ What are the optimal brand properties?
▪ How should a company respond to a crisis?
AGENDA
► What role does brand equity play in a crisis? ▪ Build brand equity early ▪ Diversify brand portfolio?
► Does existing brand equity hurt or help? ▪ Take advantage of a crisis
► What role does brand equity play in stakeholder response?
▪ Brand Meaning and Brand Awareness ▪ How stakeholders perceive the company’s response
KEY TOPICS
► Insulation against possible crises
► Quicker recovery from crises
► How? Corporate Social Responsibility (CSR)
BUILD BRAND EQUITY EARLY
► Limit Sub-brands
► Eliminate the Association Effect
DIVERSIFY BRAND PORTFOLIO
► DOLE E. Coli SaladContamination
► Free media coverage
► Display responsibility
► Earn trust
► Spurs Innovation
TAKE ADVANTAGE
► J&J Tylenol
► Heritage vs. Individual Branding ▪ Dove vs. Colgate-Palmolive ▪ Firm Reputation
► Context of the Crisis
BRAND MEANING & S.H. RESPONSE
Customers
Media
Shareholders
Supply Chain
Partners
Employees
Government► Martha Stewart
► Awareness: UP ▪ Newsworthiness ▪ Snowball Effect ► Brand Meaning: DOWN ▪ Trust/Reputation Reassessments ▪ Tighter Expectations
► Stakeholders to the Rescue
BRAND STRENGTH & S.H. RESPONSE
Customers
Media
Shareholders
Supply Chain
Partners
Employees
Government
► Proactive vs. Passive Responses ▪ Can’t please everyone ► Leveraging Brand Equity ▪ High-Profile Endorsements ▪ Free Clean-Up Publicity
HOW S.H. PERCEIVE COMPANY RESPONSE
Customers
Media
Shareholders
Supply Chain
Partners
Employees
Government
STRONG BRAND EQUITY
PositiveBrand Image
Authenticity Reputation
TRUST
WHAT ARE THE OPTIMAL BRAND PROPERTIES?
TANGIBLES▪ Performance
▪ Behavior
▪ SupportiveCommunications
INTANGIBLES▪ Integrity
▪ Goodwill
▪ Competence
TRUST
WHAT ARE THE OPTIMAL BRAND PROPERTIES?
► Assess the Situation/Incident ▪ Spillover Effect
▪ Rebound Effect
► Acknowledge the Problem
► Formulate a Strategic Response
► Implement Response Tactics
CRISIS ACTION PLAN
► What role does brand equity play in a crisis?
► Does existing brand equity hurt or help?
► What role does brand equity play in stakeholderresponse?
► Optimal brand properties
► How should a company respond to a crisis?
► Other Questions...
DISCUSSION