We read many success stories to get inspired from. By that we will only know what to ‘Do’ to be successful.
Kani failure stories kuda chadavali…dani valla we will know ‘What not to do’. The following story is termed as the world’s biggest marketing strategy fail and is first lesson in curriculum for marketing students of MBA is most of the business courses of the world!
This story is about Hoover company of British division which was very famous 25 years back for Vaccum cleaners and other home appliances. Vallaki competition ga chala kotha companies ravadam tho, their sales slowly started to drop. In order to increase the sales, they came up with a promotion strategy. Evarite 100 pounds kanna ekkuva shopping chestaro vallaki Europe lo oka country ki free air tickets sponsor chesindi for one way. During that time the air fares were less and the country was also close by. Among the shoppers only few took the offer. So offer valla sales baga increase iyai alane manchi profits ochai!! Anta bagane undi kada…mari problem ekkada ochindi??Aa idea bagane workout indi anna over confidence tho, esari ekkuva alochinchakunda…they extended the offer, tickets to Newyork,USA!! Anta dooram velli akada spend cheyali ante, rich people a veltaru…and alanti vallu will shop very costly items in their shop anukundi. Andulo kuda andaru enduku travel chestarule anukundi. Kani idea backfire indi. Anta distance travel chese chance malli malli radu ani, many people flooded the store. All of them bought appliances just above 100 pounds and availed the offer, later sold the items in the second hand market!!!. Now, this is something they didn’t expect. The ticket price to Newyork was 6times more than the price of the goods sold. But they can’t deny the offer now…valandari ticket costs barinchadam valla…they had to spend a humongous amount of 100 million pounds…close to 830 crores!When we plan something small, if something goes wrong, its manageable. Kani when we plan big, there will be so much at stake if research is not properly done!! Chala angles lo alochinchi adugeyali. E incident valla aa company ki gunapatam indi and entho mandi business students ki patam indi.