Shalini & Shailendra Jain - When Brands Transgress and How to Avoid It

Today, David is joined by Dr Shalini Jain and Dr Shailendra Jain. They are renowned business professors and global marketing and brand management thought leaders. Today, they and David look at what happens when brands let their employees, partners, financiers and customers down by failing to follow their brand values.

They share 8 principles any business can use to avoid making a mistake or giving into temptation and transgressing. As well as explaining how to recover and realign if a transgression does occur.

David helps owners and leaders to build their business without having to do it all themselves, so that they have a business that is ready to sell when they are ready. To build your business, so it is ready to sell, without the frustration and overwhelm,

Download David's Free Guide '3 reasons you will never sell your business and how to fix it FAST!  https://businessbreakthrough.live/3reasons/3-reasons 

KEY TAKEAWAYS

• People no longer just believe the marketing; they research whether firms live by the principles they expound.

• Gen Z will soon be the largest consumer group - they really care about brand values.

• Living up to brand values is an ongoing endeavour, you will always be tweaking what you do.

• Even good brands can make mistakes or be tempted to transgress.

• Be transparent. Never use the say-nothing approach.

• When something goes wrong, immediately acknowledge the pain.

• Putting profit before all else never works e.g. thinking the profit you will make will more than cover having to pay compensation.

• By doing the right thing Tylenol increased sales by 40%. Other examples are shared.

• Founding your business on strong principles and following them energises your business. They fuel you and push you to always do better.

• When you and your team strive to work in line with your principles the probability of brand transgressions minimises.

• Company culture decides whether your employees will follow brand values.

 

BEST MOMENTS

“We have found that if you are transparent, treat lives with dignity and do the right thing, you cannot fail to make a profit.”

“Both positive and negative outcomes lead back to leadership.”

“When a brand transgresses the news spreads at lightning speed.”

“When these are the principles that are the wind behind your wings .. the probability of brand transgressions minimizes.”

“Acknowledge the pain and the hurt of the victims right away.”

“Don´t shy away from your mistakes.”

RESOURCES

https://www.brandtransgressions.com

Book - https://www.amazon.com/Managing-Brand-Transgressions-Principles-Transform/dp/150152108X

Volkswagen scandal - https://www.bbc.com/news/business-34324772

Tylenol -