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Take for example an automobile company, which has had to recall vehicles due to faulty manufacturing. Or a fast food chain that has suffered loss of brand equity when exposed to practise under unhygienic conditions. Or simply loss of faith in the market owing to bad customer service. How would you best go about the process of rebuilding Brand Equity in the market?
first of all i would follow what toyota motors did when the recalled their cars in the u.s.a merket.
the crisis to them was customer satisfaction and retention centered.
they have fixed their products for free,offered letter of apology and assurances,and continued as nothing had really happened which made customers feel if the company was sure that is is a minor recall,people believed it is.
I believe people respond to honesty. Use this to publicy accept the issue and then annouce immediate steps for improvement in manufacturing, hygenic conditions or customer service. Add this in with a customer/trade promotion and/or recall of product and your golden.
We have to find out the dissatisfied customers region or area wise; we have to collect the causes of dissatisfaction of each customers; we have to categorize them; and finally we have to convert them to satisfied customers by removing the causes and to ensure them we will take care. We have to follow up each case religiously. For that we have cater seperate budget.
Find the cause or reasons if why the brand was a failure. Get some information from customers satisfied with the brand. By the information you get, you will be able to reconstruct or rebuild the brand.
