Harvard Case - Effet Boomerang: A Brand-Repositioning Dilemma
"Effet Boomerang: A Brand-Repositioning Dilemma" Harvard business case study is written by Raymond Paquin, Rania Bou Jaoude, Michel Greiche. It deals with the challenges in the field of General Management. The case study is 8 page(s) long and it was first published on : Jun 7, 2023
At Fern Fort University, we recommend that Effet Boomerang reposition its brand to focus on sustainable and ethical production practices while maintaining its core values of quality, innovation, and affordability. This strategy involves a multi-faceted approach encompassing product development, marketing, and corporate social responsibility initiatives.
2. Background
Effet Boomerang is a French footwear company facing a declining market share due to changing consumer preferences and increased competition. The brand, once known for its trendy and affordable shoes, has struggled to adapt to the evolving market landscape. The case study highlights the company's internal conflict between maintaining its core values and embracing the growing demand for sustainable and ethical products.
The key protagonists are:
- Pierre Dubois: The CEO, facing the pressure of declining sales and the need for a strategic shift.
- Sophie Dubois: Pierre's daughter and the company's marketing director, advocating for a bolder and more sustainable approach.
- The Board of Directors: Representing the company's stakeholders and needing to balance financial performance with ethical concerns.
3. Analysis of the Case Study
This case study presents a classic dilemma for many companies: balancing profitability with ethical considerations. The analysis can be structured using the following frameworks:
a) SWOT Analysis:
- Strengths: Strong brand recognition, established manufacturing capabilities, loyal customer base, and a focus on affordability.
- Weaknesses: Outdated product design, lack of sustainable practices, limited marketing budget, and internal conflicts regarding strategy.
- Opportunities: Growing demand for sustainable and ethical products, expanding into emerging markets, and leveraging digital marketing platforms.
- Threats: Increasing competition, fluctuating raw material prices, and potential consumer backlash against unsustainable practices.
b) Porter's Five Forces:
- Threat of New Entrants: High, due to the relatively low barriers to entry in the footwear industry.
- Bargaining Power of Buyers: Moderate, as consumers have various choices and access to information about sustainability.
- Bargaining Power of Suppliers: Moderate, as raw material prices can fluctuate and suppliers may have bargaining power.
- Threat of Substitute Products: High, as consumers can choose from various footwear options, including eco-friendly alternatives.
- Competitive Rivalry: High, as the footwear industry is highly competitive with established global players and emerging brands.
c) Stakeholder Analysis:
- Customers: Desire quality, affordability, and ethical products.
- Employees: Seek fair wages, safe working conditions, and opportunities for growth.
- Investors: Expect financial returns and responsible business practices.
- Suppliers: Need fair pricing and consistent orders.
- Community: Benefits from responsible business practices and environmental sustainability.
4. Recommendations
To address the challenges and capitalize on the opportunities, Effet Boomerang should implement the following recommendations:
1. Reposition the Brand:
- Focus on Sustainability and Ethics: Develop a clear brand message emphasizing sustainable production practices, ethical sourcing, and responsible manufacturing.
- Reimagine Product Design: Introduce new product lines incorporating recycled materials, eco-friendly dyes, and sustainable manufacturing processes.
- Transparency and Communication: Be transparent about sourcing practices, manufacturing processes, and environmental impact through online platforms and marketing materials.
2. Implement a Comprehensive Marketing Strategy:
- Target Eco-Conscious Consumers: Develop marketing campaigns targeting environmentally conscious consumers interested in sustainable and ethical brands.
- Leverage Digital Marketing: Utilize social media platforms, influencer marketing, and online advertising to reach target audiences.
- Partnerships and Collaborations: Collaborate with environmental organizations, sustainable fashion influencers, and ethical retailers to increase brand visibility and credibility.
3. Enhance Corporate Social Responsibility:
- Implement Sustainable Practices: Invest in renewable energy sources, reduce waste generation, and promote responsible water usage throughout the supply chain.
- Fair Labor Practices: Ensure fair wages, safe working conditions, and employee benefits for all workers in the supply chain.
- Community Engagement: Support local communities through charitable initiatives and environmental conservation projects.
4. Embrace Innovation and Technology:
- Invest in Sustainable Materials: Research and develop new sustainable materials and manufacturing processes to enhance product quality and reduce environmental impact.
- Digital Transformation: Implement digital tools for supply chain management, inventory control, and customer relationship management to optimize operations and enhance efficiency.
- Data-Driven Decision Making: Utilize data analytics to understand consumer preferences, market trends, and environmental impact to inform strategic decisions.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Mission: The recommendations align with Effet Boomerang's core values of quality, innovation, and affordability while incorporating sustainability and ethical practices.
- External Customers and Internal Clients: The recommendations address the evolving needs of eco-conscious consumers while also appealing to employees seeking a company with strong ethical values.
- Competitors: The recommendations differentiate Effet Boomerang from competitors by focusing on sustainability and ethical practices, creating a competitive advantage in the growing market for eco-conscious products.
- Attractiveness: The recommendations are expected to increase brand value, attract new customers, and improve profitability in the long term.
6. Conclusion
By embracing a comprehensive strategy focused on sustainability, ethical practices, and innovation, Effet Boomerang can reposition its brand to appeal to a growing market segment while maintaining its core values. This approach will require a significant investment in research and development, marketing, and corporate social responsibility initiatives. However, the potential rewards, including increased brand loyalty, market share, and profitability, make this strategy a worthwhile investment for the company's long-term success.
7. Discussion
Other alternatives not selected include:
- Maintaining the Status Quo: This option would likely lead to continued decline in market share and profitability.
- Focusing Solely on Price: This approach could alienate eco-conscious consumers and damage the brand's reputation.
- Merging with a Larger Company: This option could provide access to resources and expertise but may compromise the company's independence and core values.
Risks and Key Assumptions:
- Consumer Acceptance: The success of the strategy hinges on consumer acceptance of the new brand positioning and product offerings.
- Cost of Implementation: Implementing sustainable practices and developing new product lines will require significant investment.
- Competition: The market for sustainable and ethical products is growing, but competition is also increasing.
8. Next Steps
To implement the recommended strategy, Effet Boomerang should:
- Develop a Detailed Implementation Plan: Outline specific actions, timelines, and resource allocation for each recommendation.
- Form a Cross-Functional Team: Create a team with representatives from marketing, product development, operations, and sustainability to oversee the implementation process.
- Communicate the Strategy to Stakeholders: Communicate the new brand positioning and sustainability initiatives to employees, investors, and customers.
- Monitor Progress and Make Adjustments: Regularly track key performance indicators (KPIs) related to sustainability, sales, and brand perception to assess the effectiveness of the strategy and make necessary adjustments.
By taking these steps, Effet Boomerang can successfully navigate the challenges of a changing market and emerge as a leader in the growing segment of sustainable and ethical footwear.
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Case Description
Over two decades old, Effet Boomerang is an advertising agency based in Quebec, Canada. In recent years, it has found it harder to win client contracts, which has been partially due to changes in the industry. This has left its co-founder and president examining her options for repositioning the agency. This case provides an interesting opportunity to introduce students to internal and external analyses by having them examine how a small firm may leverage its strengths to effectively adapt to a changing industry.
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