Gerry Weber, Kettler, Loewe: 6 survival tips for brands

Gerry Weber, Kettler, Loewe: 6 survival tips for brands

Gerry Weber, Kettler and Co. 6 Survival tips for traditional brands A well-known name does not protect against the crisis. The fashion company Gerry Weber, TV producer Loewe or Kettcar producer Kettler had to experience this painfully recently. So that other traditional brands do not experience the same fate, they have to understand what customers want. 1. Credibility: Even Confucius once said: Who loves what he does, does not need a day to work. However, standing behind your product and identifying yourself with it has many other benefits – and it does not just make sense for yourself, it’s also good for the brand. Thus, passion at work also ensures authenticity. That makes the brand likeable and speaks for its quality. 2. Show social responsibility: Over time, not only technologies have evolved, but also people’s awareness. Issues such as sustainability or fair production are becoming increasingly important to the customer. Companies that only produce in Germany, for example, or those that pay close attention to good working conditions in their production countries, stand out from the crowd. 3. Mass with class: There are collectors who are willing to pay several thousand euros for a miniature, and well-heeled ones who do the same for a bottle of champagne. That sounds lucrative to a company that sells these things. But the places at the top are sought after – and the total sales often manageable. It often makes more sense to position yourself as a good brand on the mass market. In this way companies reach a much wider audience. Both the few customers who are prepared to pay a lot of money, and the clientele who tend to buy more restrained. The third bankruptcy within four years was too much for Kettler: The company from the Sauerland is now being wound up. The background of a bankruptcy that has a long history. 4. Customer orientation: The customer is a flag in the wind. Today he wants this, tomorrow something completely different. A good brand can be driven by the same gusts. She always stays close to the customer to be able to sense his needs early on, to finally cover them and thus to be able to offer him added value. Incidentally, it does not matter if the customer already knows what he is missing or if he has to bump his nose on it.5. Innovation through tradition: Digitization is – especially for traditional brands – a tough opponent who can only conquer who is innovative. Only those who keep up with the times can hold their own and stand out from others. The aim is to make the Phoenix out of the ashes – that is, to modernize proven products with the help of old knowledge and new technologies. 6. Clear line: Your own identity is the highest good of a traditional brand. She should stay true to herself and not emulate every product trend. What is important is that it maintains its quality by doing what it does best. True to the old adage: cobbler, stick to your last. Instead of having a broad, ordinary product portfolio, companies should therefore focus less on diversity and more on innovation and excellence. Now on wiwo.de You want to know what drives the economy? Click here for the latest articles of WirtschaftsWoche. © Handelsblatt GmbH – All rights reserved. Acquire usage rights?
Read More

Leave a Reply

Your email address will not be published. Required fields are marked *