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The rebranding of Srichand: Transforming a 70‐year‐old small and medium enterprise into a disruptive global player
Author(s) -
Santipiriyapon Sawitree,
Leelapanyalert Kannika,
Kohlbacher Florian
Publication year - 2020
Publication title -
global business and organizational excellence
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 16
eISSN - 1932-2062
pISSN - 1932-2054
DOI - 10.1002/joe.22002
Subject(s) - rebranding , business , marketing , cosmetics , advertising , dispensary , customer engagement , market share , social media , computer science , medicine , family medicine , pathology , world wide web
How does a sunset business with no computers turn itself into a fast‐growing global firm? For Srichand United Dispensary, a Thai cosmetics company, the answer was to update operations, expand distribution channels, foster a culture of employee engagement, and reposition a long‐popular brand that consumers perceived as outdated, while introducing new products through professionally executed marketing campaigns. Spearheaded by the company's CEO, these efforts were built on assiduous research that leveraged the organization's networks to identify brand gaps and gather essential customer insights. The lessons that Srichand learned in becoming the leading cosmetics brand in Thailand offer guidance for any firm that seeks to respond to fluctuating market demands with speed and agility.