Subject category:
Strategy and General Management
Published by:
IBS Case Development Center
Length: 11 pages
Data source: Published sources
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Abstract
Since 2003, La-Z-Boy, the American icon of comfort furniture, best known for its recliners, is witnessing a stagnant growth. The growth of the upholstery segment has become stagnant and the casegoods segment is reporting declining sales. Besides the US recession, the company has been facing tough competition from its global competitors, and finding it difficult to keep up with the consumer preferences of its younger generation customers. To stay tuned with the changing times, the company decided to launch a new product range with competitive pricing and designs. The case enables the readers to understand the product modernisation strategy adopted by La-Z-Boy to enhance its growth and gain sustainable competitive advantage over its competitors.
About
Abstract
Since 2003, La-Z-Boy, the American icon of comfort furniture, best known for its recliners, is witnessing a stagnant growth. The growth of the upholstery segment has become stagnant and the casegoods segment is reporting declining sales. Besides the US recession, the company has been facing tough competition from its global competitors, and finding it difficult to keep up with the consumer preferences of its younger generation customers. To stay tuned with the changing times, the company decided to launch a new product range with competitive pricing and designs. The case enables the readers to understand the product modernisation strategy adopted by La-Z-Boy to enhance its growth and gain sustainable competitive advantage over its competitors.