Honour the past ... invent the future
Challenges
In the highly competitive modern global market place, no organisation can afford to stand still. As global markets are so competitive, large companies can no longer produce hundreds of different products in lots of different product categories. That approach is inefficient and spreads resources too thinly.
Big companies recognise the importance of focusing on their power brands, i.e. on those lines in which they have the greatest competitive advantage relative to rivals and which offer opportunities for profitable growth. It pays firms to
-invest in these products and concentrate resources on them
-support them with sufficient marketing, product development, advertising and promotional efforts.
In recent years, BIC has reaffirmed that its ongoing success depends on key factors.