Word: passikoff
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Dates: during 2004-2004
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...first time in its five years as a public company. In the first quarter, sales dropped 23%, to $44.5 million, and the company lost $20 million. Winning back advertisers will take more than heartfelt pleas from loyal readers. Advertisers are looking for a reinvention of the brand, says Robert Passikoff, president of the consulting-and-research firm Brand Keys. Inside the pages of the company's magazines, that is already happening. With the September issue, Martha Stewart Living will be redesigned to reduce the emphasis on Stewart's name in the title. The back-page spot once occupied...
Consumers, however, seem to have stood by Stewart. Passikoff explains that, while Stewart's image may have been important in marketing the magazine, it isn't essential to sell a rug or a pie plate. In fact, sales of Martha Stewart--brand sheets, towels and dishes through K Mart have risen 6.5% since Stewart's conviction, according to a report by Bear Stearns...
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