Management Practice Insights

Abstract

Problem of Practice:

There have been many crises – product recalls, negative publicity, regulatory scrutiny, etc. – that established brands have had to weather – and these naturally affect consumer perception. Recent research by Mollenkopf and team reveals an innovative way of brand stewardship during a crisis – being transparent about the sustainability of your supply chain.¹ Such transparency can help protect your brand and rebuild consumer trust if there is a negative event. For product managers and brand managers, this is good news. A practical question then arises - how much transparency is enough? Being transparent and communicating that to consumers requires management of energy and resources. Here is how to build trust through transparency – and the pitfalls to avoid