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The difficult thing is walking away from a "great consumer franchise". That turned out to be really hard.
"It's a business he knows, there are real cost-cutting opportunities, there's a consumer franchise in Asia and it's accretive.
But several factors made it exceedingly difficult for Kodak to shift gears and emerge with a consumer franchise that would be sustainable over the long term.
As a rule, promotions can never improve a brand image or help the stability of the consumer franchise.
"It is much better to have a consumer franchise than a factory," says Chris Beaumont, of McCann-Erickson, a big American agency.
"There are too many magazines, too many duplicative magazines, too many magazines that launched in an exploding advertising market and are bereft of a consumer franchise," says Black.
Similar(35)
This has led to a fragmentation of markets and a splintering of consumer franchises.
Many of these banks own healthy, thriving retail operations with powerful consumer franchises.
Some are already inserting themselves between incumbent banks and their customers, in effect hijacking the relationship and reducing the value of the banks' consumer franchises.
"They have one of the best consumer franchises in the world," Mr. Harte said, "but they can't get out of the way of these environmental headwinds".
It is not inconceivable that Coca-Cola and Miller might have even larger corporate consumer franchises today had they invested in new brands rather than in product-line extensions.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com