Description of Assignment:
Students will form groups and identify a brand of interest that they perceive to be `under performing`. Applying principles from Holt & Cameron`s Cultural Innovation Theory they will assess the weaknesses of the brand within its cultural context and then give a 15min presentation on how they propose to revive/refresh that brand for the contemporary cultural context. What happened with Tesco and How Tesco lost its way in the contemporary marketplace? (Weakenesses)Compare with the competitors?What potential future trends/events Tesco might have to face in the coming decade?How would we rebranding Tesco, applying the Holt & Cameron`s Cultural Innovation Theory?
Cultural Innovation/Rebranding Exercise Name Course Instructor Date Underperformance of brands Companies may face problems connecting with customers and their brand loses value over time. This could occur gradually or may because by a series of events that the organization fail to deal with. For instance, British Petroleum (BP) has recently received bad press for its actions after the Gulf oil spill, with the company placing the blame to contractors rather than providing answers on how to avert such incidences in future. As such, organizations may appear disengaged from the public and fail to address customer concerns are likely to face discontent and backlash. According to Holt & Cameron (2010, p75), for branding to succeed then branding should be a social innovation venture