Turning Socio-Political Risk to Your Brand’s Advantage

Fournier Susan (), Srinivasan Shuba () and Marrinan Patrick ()
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Fournier Susan: Allen Questrom Professor and Dean, Questrom School of Business, Boston University, USA
Srinivasan Shuba: Adele and Norman Barron Professor in Management, Boston University, USA
Marrinan Patrick: Principal and Co-Founder, Marketing Scenario Analytica, New York, USA

NIM Marketing Intelligence Review, 2021, vol. 13, issue 2, 18-25

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.

Keywords: Brand Risk; Socio-Political Risk; Brand Risk Assessment; Brand Activism (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:gfkmir:v:13:y:2021:i:2:p:18-25:n:3

DOI: 10.2478/nimmir-2021-0012

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