In this episode of Communication Breakdown, hosts Steve Dowling and Craig Carroll discuss the reputational challenges faced by consumer companies in the wake of price increases and supply chain issues. They explore McDonald's lawsuit against some suppliers for alleged price fixing, the new scrutiny on “shrinkflation,” and the value of transparency in crisis communications. The conversation highlights how companies can navigate consumer trust and maintain their reputation amid scrutiny from Congress and the public.

Takeaways

• McDonald's faced reputational risks due to rising prices.
• The lawsuit against suppliers is a significant move for McDonald's.
• Transparency in pricing can help combat misinformation.
• Shrinkflation is a growing concern for consumers and lawmakers.
• Congress is scrutinizing companies for shrinkflation practices.
• Companies must balance transparency with strategic communication.
• Consumer trust is built on transparency and value.
• Proactive communication can help maintain trust during crises.
• Silence in response to criticism can backfire.
• Companies need to control the narrative to avoid reputational damage.

Chapters

• 00:00 Introduction to Communication Breakdown
• 00:30 McDonald's Pricing Controversy
• 02:52 Reputation Management and Supply Chain Issues
• 05:15 Transparency in Crisis Communications
• 09:03 Shrinkflation: A Growing Concern
• 11:27 Congress and Corporate Accountability
• 14:40 Navigating Consumer Trust
• 18:01 Balancing Transparency and Value
• 21:19 Conclusion and Key Takeaways