Observers agree that Toyota's recall crisis shook consumers' image of the Japanese carmaker's brand, which was built on the idea of quality and value.

Effective crisis management practices include recall processes and crisis management programs to react quickly when a crisis occurs, said Bernie Steves, managing director of Aon Risk Solutions' crisis management practice in Chicago.

“It's not necessarily managing the crisis when it occurs; it's being prepared up front so you know the necessary steps so that you can mitigate the damages and make decisions in a well-thought-out process,” Mr. Steves said.

“Nobody wins in these corporate crises or recalls. It's about managing the process, managing the expectations, managing the media,” said Gene Grabowski, senior vp and chair of the crisis and litigation practice at Levick Strategic Communications L.L.C. in Washington.

“A good response is quick, on-point. It's in the same medium in which you were attacked. So if you were attacked on YouTube, get back out there on YouTube—and position yourself as a vindicator,” Mr. Grabowski said.

A fast and comprehensive response to recalls also can mitigate risks during litigation, Mr. Austin said, noting that some companies rehearse product recall situations to make sure they are prepared.

Michael B. Fineman, agency president and creative director of Fineman PR, a San Francisco-based brand public relations and crisis communications firm, said public welfare should be a company's first priority during a product recall. He also noted that it is essential to get bad news out at once and to have a separate plan for business operations to move forward, something he said Toyota did well once it began responding to the crisis.

“By rebating heavily and discounting heavily, and at least stemming some of those losses in market share and sales, they were able to retain perhaps existing clients,” said Ted Marzilli, senior vp and managing director of BrandIndex in New York. “That bit of triage that they did in the first three or four months during the recalls was really critical.”