Why it matters
Brands emerging from periods of distress – of their own making or otherwise – face a wide variety of challenges, from changing perceptions to restoring trust. Such transformations require considerable marketing savvy, alongside operational excellence, to succeed.
- Understanding the views of legacy customers, and potential new audiences, can help previously distressed brands identify a path forwards.
- Looking at gaps between established marketing practices and audience behaviors is useful in identifying new opportunities.
- Marketing teams, given their close contact with the consumer, can serve as a catalyst for change as organizations seek to recover their footing.
The collapse of Toys “R” Us two years ago grabbed headlines all over the world, as the toy chain announced plans to shutter its US and British stores within a matter of weeks.