Let’s say you have a product, an expensive product. It is also considered a luxury product.
You would think that it would be the best thing in the world to ...
• In an article for The Economist in 2006, Louis Roederer president Frédéric Rouzaud spoke dismissively of the attention Hip-Hop stars and their fans brought to the brand:
• So they couldn’t easily reduce stock and correct for the error to keep the prices at a premium and maintain the perception of luxury quality.
• One option would have been to get some advertising people to quickly draw up a new brand name and logo and make all the preparations and sell it off as a off-brand DBA [1] discount champagne.
• All of this because a CEO did not know who his customer base was, went the additional step of making racist comments about them and then bungled the business side of recovering from it.