Question

Topic: Strategy

Achieve Great Results When Don't Have The Money?

Posted by Anonymous on 8/26/2004 at 7:38 AM ET 25 Points
The company invested a lot of money in creating a lot of brands, without having any strategy. The company invested also in advertising (inn off sezon) and ended after a month. The curent situation is that the brands met some problems (didn't sell at the expected level) and the financial resources ended.

Question is: how to revitalise these brands when the financial resources are very low and difficult to be obtain?
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RESPONSES

  • Posted by Chris Blackman on 8/26/2004 at 8:13 AM Accepted
    How can you RE-vitalise something that sounds like it was never VITALISED in the first place?

    Look hard at the targeted segments and see by research if the products and brands you tried to sell them have any value to them. If so, research harder to find out why the initial advertising failed - maybe no-one saw it. Or maybe the distribution was no ood, so they couldn't get it anywhere...

    When you make an offer that causes a repsonse from a buyer, you need to make sure everything else works. The advertsing must resonate with the buyer, the product must work, the supply chain must work, the buyer must enjoy both the buying and owning/using experience...

    Maybe the problem has nothing to do with the advertising at all. Or maybe it has everything to do with it.

    Look hard, ask a LOT of searching questions, give us some more details, and I'm sure someone here can help you solve the problem.

    Hope this helps.

    ChrisB
  • Posted by Chris Blackman on 8/26/2004 at 10:13 AM Accepted
    Here's another thought.

    What does Coke spend each year maintaining the Coke brand?

    Why would you develop a whole range of brands each one of which requires careful management and budget to maintain?

    After going through the various suggestions above, would you not be much better off, give the limited/no budget, integating the products under a single brand and starting over?

    One brand = much less to maintain!

    (Provided that makes sense!)
    ChrisB
  • Posted by Blaine Wilkerson on 8/26/2004 at 10:46 AM Member
    I recommend you hire a brand consultant to help devise an appropriate strategy. It sounds like evrything was done wrong...as far as advertising that is. It's ok to have 20 brands if you want, but you need a professional plan for each one or else you are going to struggle, throw moey at useless tactics and ads, etc.

    Feel free to send me an email for more info (just click on my name).

    Thank You!
  • Posted by Chris Blackman on 8/27/2004 at 2:20 AM Member
    If as Eduard states thee really are no funds to allow any rectification & revitalisation work, it sounds like they will have no chance of following any of the advice above.

    Eduard, if the situation is as bleak, financially, as I understand from your posts, is the business now perilously close to failing/closure?

    Or do they have other, profitable strands of business that could prop up this business through a recovery phase?
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