Radio Shack’s Failures Are Best Buy’s Lessons

brand-as-business bit:  Hindsight is 20/20.

Nowhere is this more apparent than in the history books of failed brands.  Julian Day, RadioShack’s former Chairman-CEO, probably has a few regrets.  Although Day has been out of RadioShack’s hot seat for a year, his leadership marked the beginning of the brand’s demise.

With Best Buy fighting for its life now, I bet Day has some words of advice for the company’s current interim CEO, Mike Mikan.  I suspect he’d warn Mikan about several brand pitfalls.  My latest OPEN Forum column outlines the advice I think he’d give, including “customers aren’t always right.”

customer relationships, RadioShack, Mike Mikan, Julian Day, strategy, small business, target audience, brand repositioning, retail, Best Buy, brand communication, OPEN Forum