Long-term planning: Taking the long view
Rachel Leaver, Bernard Chudy and Jerome HancockMillward Brown
Both brand-building initiatives and short-term sales boosts should be used to invest in the long-term performance of a brand.
With savvy shoppers holding tightly onto their purse strings, the pressure for retailers to maximise the buying boom from holidays such as Christmas is intense. Many turned to aggressive price discounting in the run up to the holiday period to boost ailing sales. This quick fix price-cutting is nothing new, and it's easier to justify such a short-term fix, even though it is often to the...