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BUSINESS LESSONS From BRAND ADVENTURES: Ford EDSEL, IBM, Herman Miller's AERON, Ford MUSTANG -Four Business Case Studies

BUSINESS LESSONS From BRAND ADVENTURES: Ford EDSEL, IBM, Herman Miller's AERON, Ford MUSTANG -Four Business Case Studies

          
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About the Book

FORD EDSEL -250 Million Dollars! Ten years of planning, design, and development. Let me recite again! Ford took ten years to develop this product & it cost 250 Million dollars. Their solid market-research data gave them the confidence to spend that much time, effort & money. The management believed that their product would transform the automobile market. They saw themselves as a harbinger of a revolution. Their faith in their work prompted them to run year-long marketing campaigns before the launch date. The teasers built massive expectations in the minds of the public. Finally, in September 1957, with much fanfare, Ford launched the "Edsel" brand car with an assured air of confidence in creating a revolution. People thronged the showroom in record numbers with an eagerness to see the car of the future. Unfortunately, the Ford 'Edsel' car failed to sustain the public interest.What happened? What lessons could we learn from the failure?IBM -In the early 1990s, the technology disruption had rendered IBM's business in a precarious situation. IBM's stock price dropped from $43 in 1987 to $13. The Wall Street analysts, Silicon Valley experts, and Technology pundits had predicted the end of IBM. Almost everyone believed only a smaller, nimbler firm could adapt swiftly and grow while the organization of IBM's size would struggle as it would be impossible to react quickly enough to meet the changing market conditions. The future appeared bleak. The IBM people didn't know which direction they have to move the company. In this scenario, IBM's board of directors, after months of scrutiny, chose Lou Gerstner as CEO of the company. At that time, Gerstner was working as CEO of RJR Nabisco, a cookie manufacturer. Most of the experts were shocked at hearing the news. They thought that it's one of the foolish decisions made at IBM. How a CEO who had no opportunity to learn about computer machines, programming, software, and IBM's potential customer segments would transform the company? What lessons could we learn?AERON -Herman Miller's Aeron chair disrupted the office furniture market because the chair manufacturers ignored the needs/pains of people who had to sit for long hours in a working place.Though the chair was extremely comfortable, the market initially reacted negatively to the product. People were uncomfortable with the chair's aesthetics as it didn't fit the definition of chair instilled in their minds. The people termed the product ugly and hated it. A magazine called the furniture as The Chair Of Death. However, Herman Miller overcame all those objections and sold the product in record numbers. The chair became a Design Classic. How did Herman Miller achieve success? What could we learn?FORD MUSTANG -In the year 1964, Ford rolled out the first Mustang. A mass frenzy broke out among the potential customers. The company sold four lakh vehicles against a sales target of one lakh Mustang. The newspapers wrote that the youthful appeal of the car captured the spirit of the times perfectly. The other competitors immediately followed the trend set by Mustang. However, being the first to the consumer's mind, Mustang's value kept growing. It became so popular that the top heroes of the time were seen driving the Mustangs in movies, particularly in the chase scenes. Even after fifty years, the brand is still active and has become an iconic one.How did the first Mustang become successful? What factors contributed to the success? What lessons could we learn?


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Product Details
  • ISBN-13: 9798605575474
  • Publisher: Independently Published
  • Publisher Imprint: Independently Published
  • Height: 229 mm
  • No of Pages: 142
  • Spine Width: 8 mm
  • Width: 152 mm
  • ISBN-10: 8605575476
  • Publisher Date: 28 Jan 2020
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 217 gr

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