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Catastrophes

In: Finding Wisdom in Brand Tragedies Managing Threats to Brand Equity

Author

Listed:
  • Chezy Ofir
  • Robert J Thomas

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”…

Suggested Citation

  • Chezy Ofir & Robert J Thomas, 2023. "Catastrophes," World Scientific Book Chapters, in: Finding Wisdom in Brand Tragedies Managing Threats to Brand Equity, chapter 5, pages 81-103, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811268182_0005
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    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;
    All these keywords.

    JEL classification:

    • M3 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M37 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Advertising

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