Catastrophes

Chezy Ofir and Robert J Thomas

Chapter 5 in Finding Wisdom in Brand Tragedies:Managing Threats to Brand Equity, 2023, pp 81-103 from World Scientific Publishing Co. Pte. Ltd.

Abstract: A catastrophe is defined as “an event causing great and often sudden damage or suffering: a disaster.” The COVID-19 pandemic virus that intensified in early 2020 certainly qualified as a disaster with catastrophic results, not only for human life but also for organizations and their survival. Over six million deaths globally were reported in the first two years after the virus was identified. The impact on providers and customers of brands was also felt, but in different ways due to changing patterns of customer behavior. The Federal Reserve Bank of Boston reported that the overall number of business bankruptcy filings did not increase through the pandemic years of 2020 and most of 2021, most likely due to government support. Nevertheless, they did note that “bankruptcies were generally skewed towards very small companies, particularly for retail and restaurants”…

Keywords: Brand; Branding; Brand Equity; Brand Positioning; Brand Tragedy; Brand Failure; Brand Catastrophes; Brand Image; Brand Loyalty; Brand Strategy; Brand Marketing; Brand Awareness; Brand Knowledge; Brand Likeability; Brand Preference; Brand Loyalty; Brand Building; Brand Manager; Brand Management; Product Management; Marketing; Market Segmentation; Customers; Customer Journey; Consumers; Consumer Journey; Product; Advertising; Digital Media; Value Proposition (search for similar items in EconPapers)
JEL-codes: M3 M31 M37 (search for similar items in EconPapers)
Date: 2023
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