Wharton Professor Americus Reed discusses the peak of corporate battlegrounds in 2022 during an appearance on @CNBC Power Lunch. He emphasizes the importance of companies getting involved in political, partisan, and ideological components to build a purpose into what they’re doing. He starts by discussing one of the biggest controversies of 2022, where Disney mishandled an important aspect regarding LGBTQ+ laws in Florida.
Reed suggests that the biggest controversies arise when brands are not clear about their message and what they stand for. He highlights the idea that companies need to take a stand on issues and be clear about their mission, values, and statements from the beginning. The discussion then shifts to whether silence is an option for companies in these cases. Reed argues that being silent is not an option in a new world playbook. He explains that rivals will fill that silence with information that could do more damage than being forthright and clear about what a company stands for. He suggests that consumers are demanding to know what companies stand for and where the lines are being drawn on certain issues.
Join the community of marketers, business leaders, and pop culture enthusiasts who stay ahead of the game by following Americus Reed on social media. As the Whitney M. Young Jr., Professor of Marketing at the Wharton School, Americus is a leading expert on brand equity and identity loyalty, helping businesses create and foster strong connections with their customers. With over 50 articles, book chapters, and cases to his name, as well as numerous media appearances, including CNN, Forbes, and the New York Times, Americus is a sought-after thought leader in the industry. Don’t miss out on his latest insights and updates – follow him on social media today!
