Tuesday, November 10, 2009

Protecting Image

Today the biggest challenge that corporates face is not for enhancing their brand equity, but protecting what has been built already. If you check out, you will find that while the 'building equity' strategy and program is in place'. But the element of 'protecting the eqity' is missing. No wonder then that crises, when they erupt, make many high and dry, go blank and attract bad press. In a huff, some deploy strategies which may not have been well thought out. While many battle it out to come out of crisis, some get marred into it that makes a dent on reputation.....So, it pays to think of one's 'reputation protection strategy' well ahead of time.

1 comment:

Aroop Bose said...

I fully agree with you sir. At the time of crises one should be calm. Panic decisions create problems of their own; one should try to go to the root cause of a problem and not just to find a solution to the symptoms. There is no easy way out.

To give an example: I observed from my experience that in case of the FMCG industry (could be also true for other industries as well), when actual sales fall short of expectations special schemes are introduced to make up for the lost sales. These activities only result in overloading the trade channels with stocks which consumers don't buy. The root of the problem here lies in consumers' indifference to the brand in question; this problem needs to be addressed. You can't always solve problems in a hurry, you can't wish away problems, an organization must first accept the fact that there is a problem, face it and then try to find a lasting solution. Overloading the trade with unsalable stock will more often than not result in the company taking them back after a period of time, thus losing money.

Aroop Bose