Product Recall Management

Product recalls affect thousands of products globally each year, impacting millions of customers and causing severe consequences for companies. For instance, Takata's airbag recall cost $25 billion and led to bankruptcy. Similarly, a viral video showing a Kryptonite bike lock easily broken damaged customer trust significantly.

Effective recall management is crucial. It involves addressing supply chain, production, legal, and customer relationship aspects, with marketing playing a key role. A well-managed recall limits company damage and protects customers, while also considering investors, regulatory agencies, policymakers, and the public.

This book offers guidance on developing a recall strategy, communicating safety risks, and restoring trust post-crisis. It provides detailed recommendations for recall management across different phases, with insights into consumer goods, food, and automotive sectors, and shows the broader impact of product defects.

This book is a practical toolkit for managers, backed by current research and real-world case studies, ensuring effective navigation through product recalls.

Provides recommendations for effective management throughout the entire recall process Based on the latest research studies Includes with multimedia elements such as interviews with the authors

Autorentext

Sascha Raithel is a Full Professor of Marketing at the School of Business & Economics, Freie Universität Berlin. Before earning his Ph.D. from Ludwig-Maximilians-Universität in Munich, he gained substantial experience as a consultant for various multinational firms. His research interests primarily focus on the impact of product harm crises on marketplace actors and the effective management of product recalls. Additionally, he explores market-based assets, particularly the creation, monetary evaluation, and vulnerability of assets such as reputation and brand equity. His expertise is frequently featured in leading TV and news media outlets, and he serves as a keynote speaker. His work has been published in renowned academic and practitioner journals, including Management Science, Strategic Management Journal, Journal of Marketing Research, and Harvard Business Review.

Setareh Heidari is a research associate and Ph.D. student in the Marketing Department at the School of Business & Economics, Freie Universität Berlin. Her research projects delve into the effective product recall management and its implications for firms and consumers. Before pursuing her Ph.D., she worked in the field of industrial engineering, bringing a diverse perspective to her academic journey.

Jan von Schlieben-Troschke is a research associate and Ph.D. candidate in the Marketing Department at the School of Business & Economics, Freie Universität Berlin. His academic pursuits center around consumer protection and the management of product recalls. At the heart of his research lies the notion of product recall effectiveness. In his research projects, he investigates the determinants of effective product recalls and their implications for consumers and firms. Prior to embarking on his Ph.D. journey at Freie Universität Berlin, he gained marketing experience through roles at Amazon and Coca-Cola.

Inhalt

1. The imperative of product recall management.- 2. Characteristics of product recalls.- 3. Performance implications of product recalls.- 4. The roles of different stakeholder groups.- 5. The product recall management cycle.- 6. Industry differences.- 7. Spillover effect.-8. Conclusion: Top10 key takeaways and outlook on future challenges.