An Issues-CrisisPerspectives
Three major electronic companies - LG, Samsung and Coocoo (???) - suffered a huge crisis in a period of 22 months between 2004 and 2005 when their electric cookers exploded more than 10 times in the southern part of Korea.
Exploding electric cookers. Now how is THAT for a crisis?
Lets make things clear here.
They suffered the same crisis. They are of different companies. It resulted in the same outcome:
People stopped buying rice cookers altogether.
These three manufacturers handled the crisis differently. LG withdrew their rice cooker business, Samsung tried to promote their rice cookers more but eventually gave up too. However Coocoo braved on, increasing their promotional activities and never even once withdrew from the business. As a result, Coocoo firmed up its marketing position and led the market.
It was the same crisis these three manufacturers were facing which totally caused a decrease in the sales of rice cookers. But at the end of the day, only one managed to see light at the end of the tunnel. Things could have been different it LG and Samsung were to hang on and handled the crisis differently.
But then again, I think those quitters were one of the reasons why Coocoo made it.
Three major electronic companies - LG, Samsung and Coocoo (???) - suffered a huge crisis in a period of 22 months between 2004 and 2005 when their electric cookers exploded more than 10 times in the southern part of Korea.
Exploding electric cookers. Now how is THAT for a crisis?
Lets make things clear here.
They suffered the same crisis. They are of different companies. It resulted in the same outcome:
People stopped buying rice cookers altogether.
These three manufacturers handled the crisis differently. LG withdrew their rice cooker business, Samsung tried to promote their rice cookers more but eventually gave up too. However Coocoo braved on, increasing their promotional activities and never even once withdrew from the business. As a result, Coocoo firmed up its marketing position and led the market.
It was the same crisis these three manufacturers were facing which totally caused a decrease in the sales of rice cookers. But at the end of the day, only one managed to see light at the end of the tunnel. Things could have been different it LG and Samsung were to hang on and handled the crisis differently.
But then again, I think those quitters were one of the reasons why Coocoo made it.
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