20 / April / 2019 : 15-25
Brand Reputation & Crisis Management: A Vital Business Strategy
Brand reputation refers to the perception and image that consumers have of a particular brand. It is the result of a variety of factors such as the quality of products or services offered, customer experience, and overall brand image and messaging. A strong brand reputation can lead to increased customer loyalty, higher brand recognition, and ultimately, better business results.
However, a brand's reputation is also vulnerable to negative events, such as crises, scandals, or negative media coverage. In these situations, it's crucial for a company to have a well-planned crisis management strategy in place to mitigate damage to the brand's reputation. Crisis management involves anticipating potential threats to the brand, preparing for and responding to those threats, and then effectively communicating with stakeholders to minimize the impact of the crisis.
An effective crisis management plan should include measures to prevent crisis situations from occurring, as well as a clear plan of action for how to respond if a crisis does occur. This may include the development of contingency plans, regular review and updates of those plans, and training for employees on how to respond to a crisis situation.
In short, brand reputation and crisis management are closely linked and a company's ability to effectively manage its reputation during a crisis can have a major impact on its long-term success.
Published on 20 / April / 2019 : 15-25
Published by
Liana Aloyan
Journalist, columnist. Liana studies at the Faculty of Russian Philology of Khachatur Abovyan State University. She has been working at Yelaket (Yelaket.am) news agency since 2019 as a journalist and columnist. Writes articles about business and marketing. Liana is a member of "Media association" since 2020.
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