Originally published in the Houston Business Journal, February 2003
The penalty that businesses pay when they ignore the power and value of strategic branding is usually fatal, especially when facing savvy competitors. This is true even if they are the category leader.
Attention Kmart Shoppers! The bankrupt discounter is ending its 40-year presence in Houston, closing all 17 area stores and eliminating hundreds of jobs as the nationwide chain sheds low-performing stores. The giant retailer, formerly one of the best known in the U.S., announced this past week it would shutter another 326 stores and lay off 37,000 workers nationwide. It is a classic example of a company failing to comprehend the critical need for competitive positioning in a highly competitive economic environment.
