Recovering the corporate brand: lessons from an industry crisis

Abstract

Purpose: Building on crisis management studies, this study aims to advance research on brand recovery from the existing focus on product brand/customer dyad into stakeholder marketing and corporate branding. Design/methodology/approach: This study uses a single case of industry-dominant corporate brand in an enriched context through in-depth analysis of industry informant and secondary data. Findings: The paper uncovers detail of corporate brand and stakeholder interactions directed towards recovering corporate brand and restoring trust in the industry. Research limitations/implications: This study offers an evidence-based framework of stakeholder interactions designed to support corporate brand recovery (CBR). The rich data are bounded within a single case. Practical implications: Framework illustrates the importance of drawing on stakeholders in CBR, particularly in an industry crisis, emphasises trust restoration and reveals the peripheral role of customers in CBR. Social implications: This study points to significance of stakeholder networks, particularly in insurance and financial services, in addressing social and ethical issues related to corporate misdeeds is identified. Originality/value: This study makes noteworthy contribution to brand recovery research in two ways: firstly, by investigating the recovery of brands at corporate level and, secondly, by detailing the interactions between corporate brand and industry stakeholders in recovering the brand within a stricken industry.