STAMFORD, CT: PR was an essential tool for many public companies attempting to preserve the value of their brands through recent downturns in the market.
STAMFORD, CT: PR was an essential tool for many public companies
attempting to preserve the value of their brands through recent
downturns in the market.
That was one of the conclusions Corporate Branding president Jim Gregory
drew from a recent study by his company, which attempted to discern how
top brands fared during last month’s wild market fluctuations.
Gregory trumpeted the mollifying effect that PR has on brand
’It is absolutely critical,’ he said. ’The most important thing is
For the study, Corporate Branding compared the market performance of
five composites (consisting of 20 stocks each) from April 13 to April
18. The composites included stocks tiered according to brand-strength
ranking. Tier 1 included companies with the strongest brands (Campbell
Soup, Walt Disney); Tier 5 included the weakest (Valero Energy).
While no tier emerged unscathed from the April 14 sell-off, companies in
Tiers 1 and 2 rebounded on April 17 and 18, while those in Tiers 3, 4
and 5 responded lethargically.
Gregory said that PR was often the difference. ’In Tier 1, just look at
Coke and Microsoft,’ he explained. ’These are two big brands that are
going through significant turmoil, working hard to maintain a positive
brand image while trying to solve specific threats to the company.’ PR,
he said, helped them through what could have been a difficult time.
In Tier 2, Gregory highlighted companies like the besieged
Warner-Lambert, which was finally merged with Pfizer on May 12 after
months of back-and-forth maneuvering. ’Whether battling a takeover
attempt or undergoing federal investigation, they know life goes on,’
said Gregory. ’That’s why you see them constantly out there promoting
and building their brand.’
For more information on the study, visit www.corebrand.com.