Tuesday, April 22, 2014

General Mills Gets It 

Unlike Porsche Cars, whose error we discussed yesterday, General Mills understands how to react quickly to what internet users say.  The company had published a new policy last week that stated if someone "Liked" any of its brands online, that person agreed to give up the right to sue the company in favor of binding arbitration.  The uproar was immediate, and General Mills quickly went back to its old policy with an explanation that it had been misunderstood.  The company understands that brand power resides with the consumer and not with the corporation.  Reputation is how the public regards you and not what you say.  How might have General Mills introduced a new policy?  By asking the public what it thinks.  It is a slower procedure but a more certain one.  If there are objections, the company can defend its change on the opinion of the majority.  This is nothing more than a recognition of what always has been true.  A company exists because of a customer and not vice versa.


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