If you need one more sliver of evidence of the value of brand equity, consider Firestone.
A story recently announced the kickoff of its new advertising campaign for Firestone Tires and auto service and retail centers.
According to the chief marketing officer, its objective is to re-energize the Firestone Brand. Isn’t that incredible?
Just three years ago, Firestone was voted the biggest public relations disaster of that decade. A mere twelve years ago, Firestone was despised.
According to the National Highway Traffic Safety Administration, defective Firestone Tires caused accidents that killed 200 people and injured 700 more. And that the company knew the tires were defective.
Firestone finally recalled six-and-a-half-million tires.
It’s amazing that only twelve years ago the Firestone brand was as flat as a tire can be. And today the brand is alive and well, and spending tens of millions to re-energize itself. Yes, some people remember the Firestone disaster. But more remember a tire disaster, and can’t identify the brand.
You can’t handle a PR disaster worse than Firestone did. Yet the brand is so strong, that it never left its feet, and today is healthy and strong.
The lesson is: never give up on the brand. Your brand is everything.
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