BACK IN FASHION:
HOW WE ARE REVIVING A BRITISH ICON
MM1
Session 2
NC
FSM NEW DELHI
AUGUST 2021
CONTEXT
• An OLD brand…
• Loved and successful…
• Profitable…
• ‘Decision Making’-delegation
• Lack of supervision/expertise/ Lack of …
• Dwindling profits
• Task on hand
PRESSING ISSUES
Market realities before Rose, The Protagonist
• Shrinking profitability
• Reducing market capitalization
• Hostile takeover bid
• New chief executive in three day!
• Too much inventory
WHAT MIGHT HAVE GONE
WRONG
THE DOWNWARD TREND
Probable reasons
• Short sightedness
• Wrong positioning decision
• Wrong portfolio decision
• Many such wrong… !
And,
• Looming business environment
WAS IT A C ASE OF MARKETING MYOPIA?
Suggestive evidence
Marketing Myopia (Theodore Levitt) - is a short-sighted and
inward looking
approach to marketing. With focus on fulfilment of
immediate needs of the company rather than focusing on
marketing from consumers’ point of view.
• Customers are not looking for Products – they are looking for …
… Solutions to their Needs
Revisiting
Value
STRATEGY (REALLY!?)
• Back to basics
• Revival
• Again Decision Making- This time done it right!
• Back to success
MEASURES TAKEN …
… in terms of marketing mix:
• Cost cutting
• Store atmosphere/ physical evidence
• Promotion
• Pricing
• Product
• People
IF YOU WERE IN ROSE’S POSITION…
• What different things you could have done?
• What you could have done differently?
THOUGHT OF THE SESSION
Things need not to be complicated
to be effective!
Simplicity is a great virtue.
Copy protected with Online-PDF-No-Copy.com