ABSTRACT
This chapter discusses the definition of risk literacy and suggests its value to marketers. It examines how corporate risk reporting creates an opportunity for the marketing function to make its case. Risk literacy is concerned with the adequacy of a manager's underpinning knowledge of risk and uncertainty conceptually, familiarity with suitable risk assessment approaches and an ability to deal appropriately with the risk issues identified. Brand risk literacy applies this underpinning knowledge to marketing problems and to other brand-related issues that are faced by marketers and non marketers alike. A risk-literate presentation of marketing recommendations can help a non-specialist audience understand how risks and uncertainties have been addressed in development of a marketing plan, building their confidence in the recommendations. Risk-literate marketers will therefore take steps to manage the risks in marketing operations. These might include issues relevant to effective brand stewardship, target attainment, project management or the assurance of productive relationships between the company and its agencies.
