Coming back from rock bottom (turnarounds)

Citation

Gray, R. (2008), "Coming back from rock bottom (turnarounds)", Strategic Direction, Vol. 24 No. 9. https://doi.org/10.1108/sd.2008.05624iad.009

Coming back from rock bottom (turnarounds)

Article Type: Abstracts From: Strategic Direction, Volume 24, Issue 9

Gray R.The Marketer, February 2008, Start page: 30, No. of pages: 4

Purpose – to debate whether good marketing can boost a flagging brand. Design/methodology/approach – summarizes four rebranding triumphs and catastrophes and identifies some notable comebacks. Findings – in many cases, getting the marketing right offers the route to salvation, citing the example of Marks & Spencer, but marketers often face the dilemma of what to exploit and what to omit when assessing which attributes will give a product or brand contemporary appeal. Points out that it can often be tougher to turn an ailing business-to-business (B2B) concern around than it is to use marketing to revive a consumer entity because once a B2B brand’s reputation is tarnished, it is very difficult to repair. Adds that losing touch with consumer and commercial trends often leads to failure but leveraging a brand’s heritage is a sure-fire way of reviving a failing brand. Considers that one of the worst things a company can do is cut marketing spend when the going is tough and slash prices in the hope of racking up extra sales while, for B2B, a strong focus on reviving lapsed customers or upselling to current ones is generally far more profitable than chasing new business. Originality/value – concludes that marketing can bring a brand back from the ashes – but only if it is driven by business strategy. ISSN: 0954-1543 Reference: 37AJ025

Keywords: Brands, Marketing strategy, Turnarounds