“Johnson & Johnson has cultivated its reputation through decades of careful messaging and product management, said David Vinjamuri, a marketing consultant and professor who worked at the company in the 1990s. Doctors and hospital administrators were more inclined to trust Johnson & Johnson over other pharmaceutical companies, he said. But in recent years, given its setbacks, ‘my fear now is that the systematic competitive advantage Johnson & Johnson got from its reputation has eroded,’ Mr. Vinjamuri said. ‘Brand equity is a reservoir that floats you until it’s dry.’”
New York Times
September 2, 2019
“My fear now is that the systematic competitive advantage Johnson & Johnson got from its reputation has eroded.”
Click on Read More (below) for full text (no paywall).
Reputation risk is the peril of lost of economic advantages and going-forward harm from angry disappointed stakeholders.
For a broader view of reputation risk, discover additional articles by Steel City Re here, mentions of Steel City Re here, and comments on newsworthy topics by Steel City Re here.
Risk governance and management, risk financing in insurance captives, and risk transfer through reputation insurances comprise the constituent elements of a comprehensive enterprise reputation risk solution.
What’s your strategy?