Case study:
Company OK was a popular furniture store in Country J. Unfortunately, the business attains a failure because of Person O’s family issue between the father and the daughter. OK Company was started in 1969 and becomes a publicly-traded company. Later, OK Company was started to focus on high-end customers. It started to provide large showrooms, membership systems, and customer advice with a large number of customers.
This was profitable till 2008, after the financial crisis, as people started to move towards low-priced products. Later, Person O made his daughter the company’s president. She reduced the prices, and made the company affordable for the customers to purchase. Customers accepted the changes made by her but the employees and Person O did not accept the changes. Therefore, Person O fired her and took the business to its original level. He called his daughter a bad child and marked his territory.
However, the profit of the company started to fall and the shareholders voted for Person O’s daughter as the company’s president.
To discuss: Whether Person O’s action of continued focus on high-end customers is reasonable
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Chapter 2 Solutions
Marketing: An Introduction (13th Edition)
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