What is it about?
Like a stock Portfolio, each form of a consumer brand relationship offers higher or lower growth opportunities or risks for brands. The type of a consumer brand relationship is particularly relevant in brand crisis events. In such a crisis At-risk relationships are oftentimes affected more than other relationship types and can lead to a significant decline of brand value. Two cases highlight that at-risk relationships with consumers represent a critical and often overlooked aspect of a brand's relationship portfolio. Marketers need to manage these risks proactively and deliberate to avoid negative word-of-mouth and / or rentention risks.
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Why is it important?
Brand Managers oftentimes focus only on building strong emotional relationships with customers. But neglecting negative brand relationships make it difficult to sustainably grow a brand - current customers are at risk to switch and potential customers are much more difficult to attract. Therefore at risk relationships need to be managed more carefully by brand managers.
Perspectives
Negative brand relationships and attitudes are as important to manage by Brands as positive ones - especially in the digital world. Brand Managers need to understand who and why is spreading negative w-o-m about their brands.
Oliver Hupp
GfK SE
Read the Original
This page is a summary of: At-Risk Brand Relationships and Threats to the Bottom Line, NIM Marketing Intelligence Review, April 2018, De Gruyter,
DOI: 10.2478/gfkmir-2018-0010.
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