Business
Failures are a part of the organizations, as failures mostly occur due to imperfect strategy which results in decrease in sales and market of that particular Organization. And thus the companies look for different alternatives to turn the outcome and change in strategy is the first step normally does by many companies. This article highlights the fact the negligence, loss and strategy errors that ruined a particular product of an organization.
Well when it comes to bouncing back from its failures the “RENAULT DUSTER” comes in my mind. The company Renault entered the Indian market through a joint venture with “MAHINDRA & MAHINDRA” but due to couple of failures the venture gone in vain in the year 2010.
“RENAULT INDIA DUSTER” was a huge failure for this French car making company. Seeing the outcome a team of researchers seated together to analyze the strategy failure which resulted in the downfall in the sales of this luxury car Renault. After analyzing the gap between the customer and the company the researchers concluded that the car has not been able to meet the expectation and needs of the customers and thus could not able to cater the needs of the customers. In the other words, the manufacturers realized that the core strength of marketing where every balances are made in respect to the customers i.e. the four P’s of marketing have to be evaluated again. Seeking from the idea to evaluate the four P’s the researchers evaluated all the four P’s that involves price, place, promotion, and people. By doing a proper market research when it comes to all the P’s, the company measured and corrected all different aspects and launched the new Renault Duster which recently created a sensation in the Indian automotive industry.
