Know Your Role

As business owners and brand managers, you constantly hear about successful companies changing their game plan as technology and client demands evolve. Newspapers, for example, have launched multi-layered digital web sites, featuring streaming video and access to free content, encouraging a younger audience to rely on them for current events, although they are losing subscribers each and every day.

Victoria Secret chief executive Sharen Turney spoke on an industry conference call about the direction that her brand has taken. She explained that the company has “so much gotten off (their) heritage,” in an effort to attract a younger group of consumers. She even went on to say the brand has gotten “too sexy.” For the record Sharen, we disagree.

But the ability for a company to think on it’s feet and motify its practices and strategies is of the essence. It is important that a company not lose site of its original vision and its goals. While Victoria Secret targeted college-aged buyers, they alienated loyal, existing clients who have a steadier income than the younger demographic. The solution? An active balance of new business development is just as important as retaining your core consumers.

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