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17/11/16

04:20

Post #: 20676908
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Originally posted by gsad1000 ↑

Bullsh*t. Potential customers (remember this was a start up business......and there lay a problem) were interviewed and researched months out. Days and weeks were spent in focus groups with customers & tradies.

Why do you think they went live with;

1. Polished concrete (people hated that black gritty dust in bunnings
2. Air Con (people disliked Bunnings ion hot and cold days
3. More staff (Bunnings....trying to find a staff member.....remember that?)
4. Prices that matched Bunnings or were better
5. But the number 1 need/want from customers.....(and this is a sad reflection) ....must have a sausage sizzle

The above is just some of the things. Others., multi story stores had to have space for parking vans with stuff on roofs. Staff went through better customer training than any other WOW staff at the time.

The issue was it was a 'start up' business and WOW management just didn't understand that concept as they had never done one (would always buy an existing player.
They moved to reduce start up costs much too quickly instead of the innovation cycle, which would put a concept in, test it, if it worked apply it if not try again.
They grew too quickly without getting the offer quite right. Some stores were in the wrong place and should have been terminated, whilst others (at least 15 ....the ones bought by Bunnings) were def in the right place.

Sure they got some things wrong, but who hasn't? What they needed to do was to know their customers better and get the basic offer right before they put their foot on the accelerator.

The other thing was that Masters had probably the hardest competitor in the business, Bunnings. Bunnings moved VERY quickly to tie up land and suppliers. They sharpened their offer and customer service, including putting in some form of air con.... Basically they matched Masters very quickly.

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I know where the B$ is friend....... but you may well be right...YES, Masters was so well researched...it was a multi-billion dollar flop in the marketplace!

Score NIL for "focus groups"...or as a Tradie I walked past in the first week of a Masters [Springfield] trading said to his mate "let's go back to Bunnings..." and no-doubt they did!

WOW Price at posting: $23.30 Sentiment: Hold Disclosure: Held
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Calling all WOW investors ..., page-25

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