Harvard Case - Bosideng: How to Revitalize the Brand?
"Bosideng: How to Revitalize the Brand?" Harvard business case study is written by Haifen Lin, Hongshuang Liu, Yanfang Hu, Haixin Huang. It deals with the challenges in the field of Marketing. The case study is 10 page(s) long and it was first published on : Jul 21, 2020
At Fern Fort University, we recommend a multi-pronged approach to revitalize the Bosideng brand, focusing on strategic brand management, digital marketing, and product innovation. This strategy aims to re-energize the brand's image, connect with younger consumers, and expand into new markets.
2. Background
Bosideng, a leading Chinese down jacket manufacturer, faced challenges in the late 2010s. The brand had become synonymous with outdated designs and a perception of being solely for older generations. The company's reliance on traditional marketing channels and lack of online presence further contributed to a decline in brand appeal, particularly among younger consumers.
The case study focuses on Bosideng's CEO, Gao Dekang, who recognized the need for a brand transformation. He aimed to reposition Bosideng as a modern and aspirational brand, attracting a wider audience and achieving sustainable growth.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong brand recognition in China
- Extensive manufacturing capabilities
- Established distribution network
- Financial resources for investment
Weaknesses:
- Outdated brand image
- Limited online presence
- Lack of innovation in product design
- Reliance on traditional marketing channels
Opportunities:
- Growing demand for high-quality outerwear
- Increasing disposable income in China
- Expanding international markets
- Leveraging digital marketing and social media
Threats:
- Intense competition from domestic and international brands
- Fluctuating raw material prices
- Changing consumer preferences
- Economic uncertainties
Competitive Analysis:
Bosideng faces competition from both domestic and international brands, including:
- Domestic brands: Anta, Li Ning, and 361'
- International brands: Canada Goose, Moncler, and North Face
These competitors offer a diverse range of products, pricing, and marketing strategies. Bosideng needs to differentiate itself through unique product offerings, innovative marketing campaigns, and a strong brand narrative.
4. Recommendations
1. Rebranding and Brand Positioning:
- Target Market Segmentation: Identify and target specific consumer segments, including young adults, urban professionals, and fashion-conscious individuals.
- Brand Positioning: Reposition Bosideng as a modern, stylish, and functional outerwear brand, emphasizing quality, craftsmanship, and innovation.
- Brand Narrative: Develop a compelling brand story that resonates with the target audience, highlighting the brand's heritage, commitment to sustainability, and focus on design and technology.
2. Digital Marketing Strategy:
- Social Media Marketing: Utilize platforms like WeChat, Weibo, and Instagram to engage with target audiences, share brand content, and build online communities.
- Influencer Marketing: Partner with fashion influencers and bloggers to promote Bosideng products and reach new consumers.
- Content Marketing: Create engaging and informative content, including product reviews, fashion editorials, and behind-the-scenes videos, to build brand awareness and educate consumers.
- E-commerce Platform: Develop a robust online store to offer a seamless and convenient shopping experience, including personalized recommendations and secure payment options.
3. Product Innovation and Development:
- Product Diversification: Expand product lines beyond traditional down jackets to include a wider range of outerwear, such as parkas, puffer vests, and raincoats.
- Design Collaboration: Partner with renowned designers and fashion houses to create limited-edition collections and enhance the brand's image.
- Technology Integration: Incorporate innovative technologies, such as smart fabrics, temperature regulation, and water-resistant coatings, to improve product functionality and appeal to tech-savvy consumers.
- Sustainable Practices: Implement sustainable manufacturing processes and use eco-friendly materials to appeal to environmentally conscious consumers.
4. Pricing Strategy:
- Value-Based Pricing: Position Bosideng products as premium offerings, justifying higher prices through quality materials, craftsmanship, and innovative features.
- Competitive Pricing: Monitor competitor pricing and adjust pricing strategies to maintain competitiveness while ensuring profitability.
- Promotional Strategies: Offer limited-time discounts, bundle deals, and loyalty programs to attract new customers and incentivize repeat purchases.
5. International Expansion:
- Market Research: Conduct thorough market research to identify potential international markets with high demand for premium outerwear.
- Strategic Partnerships: Partner with local distributors and retailers to establish a strong presence in new markets.
- Localized Marketing: Adapt marketing campaigns and product offerings to cater to the specific needs and preferences of international consumers.
5. Basis of Recommendations
These recommendations are based on a thorough analysis of Bosideng's strengths, weaknesses, opportunities, and threats. They consider the company's core competencies, external customer needs, competitive landscape, and market trends. The recommendations are also aligned with Bosideng's mission to become a global leader in the outerwear industry.
Quantitative Measures:
- Increased market share: The proposed strategies are expected to increase Bosideng's market share in both domestic and international markets.
- Improved brand perception: The rebranding and digital marketing initiatives are expected to enhance brand perception and increase consumer loyalty.
- Increased revenue and profitability: The product innovation and international expansion strategies are expected to drive revenue growth and improve profitability.
Assumptions:
- The Chinese economy will continue to grow, creating a favorable environment for consumer spending.
- Technological advancements in the apparel industry will continue to drive product innovation.
- Consumers will be receptive to Bosideng's rebranding efforts and embrace the brand's new image.
6. Conclusion
By implementing these recommendations, Bosideng can revitalize its brand, attract new customers, and achieve sustainable growth. The combination of rebranding, digital marketing, product innovation, and international expansion will enable Bosideng to compete effectively in the increasingly competitive global outerwear market.
7. Discussion
Alternative Options:
- Focus solely on domestic market: This option would limit growth potential and expose Bosideng to greater competition.
- Adopt a low-cost strategy: This approach could undermine brand image and limit profit margins.
- Ignore digital marketing: This would hinder the brand's ability to reach younger consumers and build online presence.
Risks:
- Execution challenges: Implementing the recommended strategies requires significant resources and careful execution.
- Market volatility: Economic downturns or changes in consumer preferences could impact the success of the revitalization plan.
- Competition: Existing and new competitors could pose challenges to Bosideng's growth.
Key Assumptions:
- Consumers will respond positively to the rebranding efforts.
- The digital marketing strategies will be successful in reaching target audiences.
- The product innovation initiatives will be well-received by consumers.
8. Next Steps
Timeline:
- Year 1: Implement rebranding strategy, launch digital marketing campaigns, and introduce new product lines.
- Year 2: Expand international presence through strategic partnerships and localized marketing.
- Year 3: Continue product innovation, enhance digital marketing efforts, and monitor market performance.
Key Milestones:
- Launch of new website and social media accounts.
- Introduction of new product lines and limited-edition collaborations.
- Partnerships with key influencers and fashion bloggers.
- Expansion into new international markets.
By taking these steps, Bosideng can successfully revitalize its brand and secure its position as a leading player in the global outerwear industry.
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Case Description
By 2017, the comprehensive multi-brand Chinese clothing manufacturer Bosideng International Holdings Limited (Bosideng), founded in 1976, had become famous for its main business of down jackets. After almost 40 years of rapid development, Bosideng had become the top brand in the Chinese down apparel industry and had established strong brand equity. However, the company's performance had been in decline since 2013. Faced with increasingly fierce competition, Bosideng had gradually lost its appeal to younger customers, who were uninterested in its unfashionable designs. The reduced profit level threatened Bosideng's further development. In 2017, Bosideng's chairperson and president was considering how to overcome this dilemma by revitalizing the brand. He hoped to strengthen the position of the Bosideng brand in the Chinese down jacket market and even in the global market in the future. However, he was not sure which approach would be most effective: should he maintain Bosideng's existing brand values or invest in rebranding?
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