Integrity is the new integration

Interconnectedness means there is no longer room for any disconnection between a company's brand image and its business reality -- something that Volkswagen has recently discovered to its cost. UBS estimates the direct costs associated with fixing things for customers and paying the associated...

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Bibliographic Details
Published in:Marketing (London) 2015-12, p.106-106
Main Authors: Noble, Sam, McIlrath, Shaun
Format: Magazinearticle
Language:English
Subjects:
Automobile industry
Brand equity
Brand image
Company marketing practices
Consumers
Costs
Integration
Marketing
Social networks
Social responsibility
Online Access:Get full text
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Summary:Interconnectedness means there is no longer room for any disconnection between a company's brand image and its business reality -- something that Volkswagen has recently discovered to its cost. UBS estimates the direct costs associated with fixing things for customers and paying the associated fines to be up to dollars 35 billion. The company's market value fell by 20% overnight and key indicators of brand health and sales performance have nosedived. It's a salient reminder of the fact that 'brand integrity' is the new integration. For the savvy, empowered and interconnected modern consumer, any disconnect between a brand's purpose and values and the reality of how it goes about its business -- and, indeed, the impact it makes on the world as a result -- can have monumental and fast-moving consequences. A constant commitment to making great ideas a reality is required. Every consumer interaction is a potential margin gain. The values and value of your business have never been more interconnected.
ISSN:0025-3650