Implosion of a brand: What can we learn from Toyota's crisis mismanagement?
Posted by Neil Davey in Customer experience, Marketing on Fri, 12/02/2010 - 05:38
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- A recap of the Toyota recall saga
- What damage has been done to Toyota financially and from a branding/trust perspective?
- Where did Toyota go wrong?
- What approach should be taken to crisis management and communication management?
As Toyota struggles to rescue customer trust and its brand reputation in the wake of its vehicle recalls, Neil Davey explores what went wrong - and what we can learn from it.
It’s a nightmare scenario for any company. You discover that one of your leading products – a product owned by millions of consumers - has a potentially fatal flaw. You’re facing damage to your brand, damage to your corporate reputation and damage to consumer trust. Most importantly, the safety of your customers is at risk. So, what do you do?
The path that Toyota took is likely to be something that they will reflect on with regret. Which leads us to ask another question: what should they have done?
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