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.