H345 is a large high street clothing retailer that was, until recently, associat

Question

H345 is a large high street clothing retailer that was, until recently, associated with quality clothing at affordable prices. Over the past two years new competitors in the market have rapidly gained market share, mainly at H345's expense. One marketing analyst has commented that H345 needs to reconnect with its traditional customers before it can win them back. H345's owners are naturally worried by this situation and have appointed a new Chief Executive with a brief to 'transform H345's approach and thinking'.
In his first meeting with H345's senior management team the new Chief Executive explained that the retailer has 'taken its brand for granted' and that the H345 brand needs serious consideration if the company's fortunes are to be revived. He has promised a re-launch of the brand and a fundamental review of the company based upon sound marketing principles. Privately, he is also critical of the attitude and abilities of some of H345's workforce and has promised to 'get the people issues right'.

Explain the reasons for the new Chief Executive attaching such importance to H345's brand.

Explanation / Answer

The Chief Executive attaches importance to H345

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