Mark Ritson sparked debate by questioning the value of brand reputation management when some companies, such as BP and Goldman Sachs, escape unscathed despite huge foul-ups. Read his column at www.mwlinks.co.uk/ ReputationRitson and comment extracts below.
Big brands will rise again
Banks and oil businesses tend to make massive money regardless of “blips” like this. The demand for what they are selling, the profitability of the business and the resources at their disposal to overcome setbacks all mean that they are less vulnerable and will, in most cases, rise again.
These are great examples of “stated” brand values being in contradiction to what consumers actually believe. So when BP, Goldman Sachs and RBS act irresponsibly nobody is all that surprised. I wonder if it’s even reassuring to see big banks and oil companies living up to their archetype.