The Rise and Fall of the J. Peterman Company
hbr.org
I knew what kind of culture I enjoyed working in; I strongly suspected that there were people who would respond to a company marketing romance and individuality. I would buy dusters on 30-day terms, secure the ad space, and then use the money from the sales to pay for the ad. I couldn’t afford to ge
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Summary
- 📈 The J. Peterman Company experienced rapid growth in the late 1980s and early 1990s, with sales increasing from $4.8 million to $19.8 million.
- 🌟 The company's success was built on a unique and authentic marketing approach that appealed to customers' desire for romance and individuality.
- 💡 However, as the company expanded and hired new employees, the original vision and culture became diluted, leading to problems and a loss of focus.
- 💻 The company's online presence was lacking, and the founder realized they had reached the limit of potential for their catalog business.
- 💥 The J. Peterman Company faced financial difficulties and was squeezed by external forces, ultimately leading to its downfall.
Top Highlights
- I knew what kind of culture I enjoyed working in; I strongly suspected that there were people who would respond to a company marketing romance and individuality.
- I would buy dusters on 30-day terms, secure the ad space, and then use the money from the sales to pay for the ad.
- I couldn’t afford to get out of the business; I owed so much money.
- We were getting a tremendously high response rate from prospects.
- We had also, without realizing it, planted the seeds for serious problems later on.
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