Puma

The Story The company was originally started by Rudolf and Adi Dassler under the name Gebrüder Dassler Schuhfabrik in Herzogenaurach, Ger legion(predicate) in 1924. The company was renamed PUMA Schuhfabrik Rudolf Dassler in 1948 by Rudolf betwixt the two brothers. Adi left the company to found his own slip company, Adidas. The company went public in 1986 and was immediately followed by the retirement of Rudolfs son, Armin. As of 1993, the company had not made a profit since before going public. In hopes of revitalizing the company, painters board hired the companys 30-year overage marketing director, Jochen Zeitz to be the CEO. Zeitz had very little experience precedent to coming to puma, having only worked with Colgate-Palmolive for two years in the US and Germany. Pumas brand image had been severely profligate through years of deep discounting and bargainstore sales. To combat high costs, a low brand image, and a lag in tutelage up with trends, Zeitz implemented an ambitious three- var. plan. In the first phase of this plan, Zeitz did what any good exe mowive might do upon presume leadership of a failing firm: he cut the fat.

He led a severe, four-year long campaign of new costs, in which he nearly halved the payroll to 367 employees and closed the output signal plants in Germany, instead outsourcing production to Asia. In addition, Zeitz bought back licensing rights in the US so that he would have closer admit over brand image and distribution. By this time, Zeitz had realized what many others in the industry had as well, that nearly 80% of customers do not wear their position for the intended activity of the shoes (i.e. running, basketball, tennis, etc.). Zeitz, therefore, decided to market the Puma brand as a more fashionable alternative to the more mainstream brands. He considered that change magnitude the aesthetic and marketing appeal of the shoes instead of the capital punishment characteristics of the product would be highly beneficial to the performance of Puma among its target market.... If you want to get a full essay, gear up it on our website: Orderessay

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