Turning socio-political risk to your brand’s advantage
Files
Accepted manuscript
Date
2021-11-01
Authors
Fournier, Susan
Srinivasan, Shuba
Marrinan, Patrick
Version
Published version
OA Version
Citation
S. Fournier, S. Srinivasan, P. Marrinan. 2021. "Turning Socio-Political Risk to Your Brand’s Advantage." NIM Marketing Intelligence Review, Volume 13, Issue 2, pp. 18 - 25. https://doi.org/10.2478/nimmir-2021-0012
Abstract
Employment practices, civic responsibilities, philanthropy, environmental stewardship, the conduct of corporate executives and employees, the execution of marketing campaigns: All these topics can trigger brand risk events. The challenging branding environment calls for reimagining classic brand marketing through a refreshed and updated social risk management lens. Companies need to assess which socio-economic marketing opportunities can renew brand resonance. This involves not just identifying revenue generating opportunities, but also identifying, cataloging, and tracking SEP risk types in order for managers to understand the new landscape brands must now navigate. Then, they need to implement a framework to manage a brand’s social risks and to take advantage of potential opportunities. Fully embracing this responsibility changes the marketing executive’s role in a significant way: From top line revenue generation to a dual role that includes managing risks as well as returns.
Description
License
© 2021 Susan Fournier et al., published by Sciendo. This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.