By now, I’m sure many of you have forgotten about the Fort Worth-based store, RadioShack. I know I had (and I was born and raised in Fort Worth!). They’ve gotten lost among companies like Best Buy, Apple, Google and even Amazon – companies that are more “hip,” if you will, on the latest technology.
I read a Dallas Business Journal article recently and surprisingly, the company has made a comeback and is revamping their brand in all the right areas.
My first thought was, “It’s too late for RadioShack; they can never be as successful as they were.” That might be the case, but they seem like they are headed in the right direction. The first step that they needed to take toward a more successful company was changing management. In my opinion, if it doesn’t work, fix it! I’m always looking for ways to improve myself whether it’s professionally or personally, and that’s exactly what RadioShack did. They hired a new CEO who hopefully will bring great ideas to implement in the rebranding process.
RadioShack desperately needs to modernize its stores, concept and overall brand. They need a new face and fresh ideas to have a chance at being successful again. The company has definitely shown progress in this area, but it still has a long way to go. Yes, a new logo and tagline, “Let’s Play,” is a good start. But, RadioShack needs more than that. A change in slogans alone will not gain more customers.
To compete with the Best Buys and Amazons of the world, RadioShack needs to offer something completely different than that of its competitors. I think for a company that is in the position of RadioShack, it’s important to cover all the bases and don’t leave anything to chance. The company needs to bring something new to the table that no one has seen before to change its previous image, whether that’s with regard to a change in corporate culture, customer service or educational opportunities for customers related to its products.
Overall, I think RadioShack is headed in the right direction, but still has a lot of work to do. As a fellow Texan, I hope they can pull it off!
What do you think about RadioShack’s new marketing strategies?