Build your professional network on facebook via our app Go to app
 
<< Prev  14 of 14 in Topic 
Topic : Branding During Tough Times
  Rate : 
Posted in Community :

Marketing & Branding

 

Can bailed-out brands recover from the stigma of bankruptcy and begging?

Created by : Arvind Shastry, PR & Media Relations Manager, Ogilvy & Mather  | 12 02 2008 18:41:25 +0000
Industry : Advertising/PR/MR/EventsFunctional Area : Branding(Sales & Marketing)
Keywords : Brands Brand Image Bankruptcy Recover Begging Brand POSITINING Stigma Economic TURNDOWN Bailed-Out
Activity:  283 views;  last activity : 07 06 2010 20:18:09 +0000
Now that many Brands , from AIG to General Motors and  from the Royal Bank of Scotland to Lloyds TSB are being bailed out by taxpayer money, will the public ever be able to “forgive and brands, or will the sense of outrage and ill will eventually doom such brands in the future?
  
Share
 
 
  Rate : 
 
 
Yes Vs No
5
 
 
 
 
2
4
2
Support   Support
Top Argument
1
0

It is more of a collective thought that can actually answer this question. Individualistic based views will only be macroscopic in nature. When we think from our neighbors pov, then the truth hits us strongly. I might have resentment against a brand for deceiving me with their emotional atyachaar, but my neighbor is more forgiving and goes ahead and still buys the same!! So it is more of how these brands are dealing with its audience in terms of emotions and aspirations rather than the fact that they came tumbling down. What is to remember here is that we are the ones who design a strategy, the hook and the positioning and then we are the ones instrumental in a brands success or failure!!
By Makrand Bhave, Marketing & MICE, WIZCRAFT International  04 19 2009 07:37:42 +0000
 
0
0
To me it seems most folks don't really care about the significance of this bail-out. Instead they care that the economy is supposedly safe as a result. I think in the long run, this whole thing is a finger-pointing exercise, and when it's all shaken out, irresponsible corporations will not be held accountable for their failures. More importantly, will our economic freedoms survive? Will we come to assume the government has to help corporations out to keep the economy afloat? Will this become the norm? I tend to think this is the "slippery slope" effect, and precedents are being set that will affect our view of capitalism for a long time to come
By Neelima Pandey, PR & Media Relations Manager, Group M  | 12 02 2008 18:44:18 +0000
0
0
Yes, I think brands can survive and become stronger. Bankruptcies and bailouts are a PR problem, not a brand problem per se. Hence, solid, generous PR that is straightforward and honest about the problem will go a long way to repairing any breach of trust. (Brand managers at GM etc. can take a lesson from airlines' crisis management and over-communicate.) Management should coordinate with the PR team to go out of their way to correct the mistakes that were made -- and publicize those corrections. This will show that they are serious about reform. Management should get rid of their corporate jets, donate their 30" flat screen monitors to developers who will actually use them, etc. This will be good internal and external PR.A company can come out of a bailout stronger and with its brand in good standing if it makes the right moves. 
By Rajesh Kanwar, Media Planning,J Walter Thompson  | 12 02 2008 18:43:34 +0000
0
0
I believe as time passes on, people will forget and start fresh relationship with the Organizations. I still remember one of the Bank going for bankruptcy and later came out with a new Name, Logo and face with an effective Advertisement. This changed a lot. New Business started pouring in. Its a matter of Trust that needs to be re-built (though it might take a long time). Like in case of CITI BANK, even though they got a bailout, still people are banking with them and putting in their hard earned money.
That's what we call Goodwill and Trust. They still believe in CITI and the potential its got. Some of them might continue to deal with the same Organizations but for limites services whether they feel comfortable with. Again it also matters how adaptable we are in today's world and I beleive we are.
By Arvind Shastry, PR & Media Relations Manager, Ogilvy & Mather  | 12 02 2008 18:41:25 +0000
0
0
Some organizations will be remembered favorably, even after filing for chapter 11.It all depends on the circumstances, they may be viewed as victims of the current economy, not of bad management.Others, like GM, will not be excused.They have arrogant management, arrogant unions, and their products suck!Why even bother? its a doomed brand. 
By Chanakant Chougule, Media Planning, Mudra Communications  | 12 02 2008 18:44:57 +0000
0
0
People buy brands because of the associative feelings they have towards that brand. If the brand promise was that of success or status, then of course it is going to impact because they have gone back on their market promise.Think of a major bank having to be bailed out. Would you stick your money there. Of course not because in the back of your mind you would be asking this was just a temporary fix. This lack of trust is underpinning the present credit crunch between banks themselves.However, if an "everyman's" brand like Bonds had to be bailed out, it is different. They have that "common touch" and don't we all get into a bit a trouble every now and again.Brands that stand for success or being powerful will suffer. One only has to look at Nike and Andersons to see what happened when they suffered an esteem crash. Nike has never recovered to its former glory and that was 10 years ago when they got caught out for using slave labour.
By Parth Singh, PR & Media Relations Manager, J Walter Thompson  | 12 02 2008 18:43:03 +0000
Argue for "Yes"
Argue for "No"
 Found the debate "Can bailed-out brands recover from the stigma of bankruptcy and begging?"  interesting ?  Suggest to your connections and communities  
Leading Recruitment firm
Leading Recruitment firm
Viewers also viewed
These days, a number of companies, including Jantzen and L.L. Bean, are bringing back styles...
 
809 referals 24 arguments, 822 views
Many brands become stagnant and then they die. What to do if you want to give it a new start ?...
 
1986 referals 13 votes, 796 views
In the wake of the fuel prices going up, waning consumer confidence and sluggish Global economy...
 
1 referals 7 arguments, 437 views
more...  
Recent Knowledge (3)
WE HAD A GOOD NUMBER OF INVENTORS WITH GREATER VISION ABOUT THE SOCIETY. INVENTORS HERE NEED NOT...
 
2 referals 2 arguments, 128 views
C vs B
 
0 referals 3 arguments, 72 views
Nirmal Baba is a fraud vs Nirmal Baba is a Saint
 
513 referals 7 arguments, 75 views
more...  
Sponsored Jobs
More From Author
Yes....with communism rule... they are having one goal in their mind...and they want to be at the top...and US is having problems from every corner, terrorism, shaky economy and job loss and their presence in every other country like afghanistan, Iran,...
Thanks for posting such a touching ppt. Yes its time to wake up and see our political system functions properly.
more...