Think Bigger than you are !!
Few years back, when we were on a stroll in Thailand, my son who then was a small kid about to go to pre-school wanted me to buy him a slipper and since i was on a shopping spree, walked in to a store and was asking the salesman to show me a whole range of slippers and shoes. I was looking at a lot of factors and have picked up half a dozen to make my final elimination round, my little son walked in with a red lump on his leg and when i asked him to remove , he said he has got it. I looked at the ugly, unimpressive slippers he has picked up and looked at all those stylish sleek, elegant, light weight,latest, trendy shoes/slippers i have picked up only for him.
I then tried to show the class that i have chosen and said the one he is wearing is not at all nice and meant only for a spa or a beach and it will not suit his dress and in an angry tone told him only clowns wear this.. blah..blah… blah. Nothing worked, he refused to remove those slippers and even said he does not want anything else in the store apart from the one he is wearing.When i tried my art of persuasion by using my brand strategy he just reversed it on me and said – I like Crocs…!! I had no choice to get him that Ugly , beach slippers and just warned myself that i should not allow my son to grow adamant. I also sweared to my self never will i be in a situation like this with Mithul. He will get what i want him to get.
Crocs..Crocs..Crocs was echoing in my ears and my mind was jammed. Recently i started researching about the Brand crocs Inc headquarterd at Niwot in Colorado, U.S.was founded in 2002 by three friends. Crocs Brand are made in a variety of styles. The shoes are made in an array of colors depending on the model. The Beach and Cayman styles are available in more than 20 colors; most other styles are produced in a palette of four to six colors or two-color combination.The company goes from $1 million in revenue in 2003 to US$721.6M (2008).
Crocs, Inc. (NASDAQ: CROX) on July 25th 2012 reported financial results for the second quarter ended June 30, 2012. Revenue for the second quarter of 2012 increased 12.0% to $330.9 million, over revenue of $295.6 million reported in the second quarter of 2011. This represents the highest three month revenue level in the company’s history. Net income for the second quarter 2012 was $61.5 million, or $0.68 per diluted share, compared to net income of $55.5 million, or $0.61 per diluted share, in the second quarter of 2011.
Sales growth during the quarter was driven by Asia and Americas which was partially offset by a modest decrease in Europe. Geographically, revenue increased 10.9% for the Americas, increased 20.5% for Asia and decreased 5.2% for Europe.
Some say it is luck and some say it is shrewd business moves, but Brand Crocs success seems to be astonishing.Purely by the word of Mouth marketing strategy Brand crocs turned out to be a brand on every ones feat.One in six people in Israel owns a pair. Crocs now sell is an universal brand.The Crocs brand stands for innovation, fun, comfort and Simple.In spite of the love hate relationship on crocs the brand is doing very well, despite the TIME magazine listing Crocs as one of the worlds “50 Worst inventions” more than 100 million pairs of crocs foot wears have been sold. Another interesting tale on crocs brand is that even the fake croc brand is doing well and of course the blog “I HATE Crocs” is also growing.To me now it looks like anything to do with Brand crocs seems just growing.
Any Brand which grows beyond imagination extends its brand ( Brand Extenion) only to maximise its sucess. Crocs is extending in other areas too like clothing,watches, sun glasses- just wondering will that also have holes in it.
CROCS,You can hate them,You can try to ignore them but the fact of the matter is they are every where. I almost see it everyday, every child in my apartment religiously wears it. For the kids it seems to be a fashion statement. I need to thank Mithul for teaching me a life learning lesson,” You can be famous inspite of being Ugly”. Think Bigger than you are !! Now a days i just allow my 7 year old son ( Mithul) to decide/suggest the app to buy on my ipad, the new brand of car that has got launched and a lot about mobile phones.Learn from any one when thay have something to teach.
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