By John Darer CLU ChFC MSSC RSP CLTC
Johnson and Johnson's handling of the Tylenol tampering crisis in 1982 is considered by public relations experts to be one of the best in the history of public relations. Within a year of the crisis that began in the Fall of 1982 with 7 Chicago area deaths, involving a product whose revenues represented 17% of JNJ's net income for 1981, the company had regained a market share of 30%.
Twenty-six years later the 2008 bailout of American International Group (AIG) was so unfathomable in magnitude that it became the face of "too big to fail" and to some degree, at least temporarily, shook consumers' overall faith in the broad insurance market. AIG's operating subsidiaries were re-branded in 2009, but the AIG brand is back and with good reason- the strength of good will that 90 years in business brings you and crisis management. Time will tell if it proves to be as legendary as JNJ's Tylenol story, but it will no doubt be the subject of Business School case studies for many years to come.
Watch John Darer's recent video commentary on the re-emergence of the AIG brand.
Click here to read John Darer's September 19, 2012 post and the AIG video that has been released in conjunction with the AIG re-branding.
"I'm Still Standing Yeah Yeah Yeah" -Elton John Bernie Taupin 1983 Big Pig Music
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