Finding Wisdom In Brand Tragedies: Managing Threats To Brand Equity

Book excerpt: Brands and branding have deep historical roots. Almost anything or anyone can be branded with a name or mark for commercial or other purposes. The act of branding initiates activities in a brand ecosystem among people and organizations who have a vested interest in the brand's value. Unfortunately, a brand may experience a tragedy that can put its value and equity at risk. Pundits will often conclude there is a primary reason for a specific brand's tragedy, however, studying the situation more deeply can reveal tragic flaws in response to brand-challenging experiences that enhance managerial wisdom.The purpose of the book is to examine the backstories of a selection of relatively well-known brands that have experienced a tragedy. The objective is to inform how and why some brands survived and some did not. Doing so, may help leaders and managers of current brands avoid the miscues that lead to brand tragedies and possibly revive a brand when tragedy strikes. It is a book for those who need to improve their understanding of the vital importance of a brand for organizational success and who want to build and manage their brands to continuously improve value for customers, employees, shareholders, and the well-being of society. While there will be no one right approach or silver bullet to avert or ameliorate a specific tragedy, the better prepared leaders and managers are for a brand tragedy, the greater the likelihood of avoiding one and realizing an expedient and constructive outcome when one occurs.