Target is not an everything store, said Fiddelke, who took over as Target's chief executive last month. He said Target would focus on winning busy families as its primary customer base. Target will also increase capital spending by 25% to $5 billion this year to bolster operations, technology and other areas of the business.
Despite naming his chain with a heavy dose of innuendo, he and his partners intended it as a beachside dining spot for young people and families. "It started as a place five miles from the beach," Kiefer, now the CEO of Hooters Inc., told Fortune. "You came in from the beach, could throw some coveralls on, shorts...and it was a hangout." But recently, the restaurant chain known more for its scantily clad servers than perhaps its wings and beer, strayed too far from its roots,
Nostalgia is running rampant in marketing, with myriad brands resurrecting old ads, taglines and mascots to build emotional resonance. What happens when an organization wants to do the opposite of nostalgia bait: make consumers forget its most-recognized slogan in favor of something fresher and more relevant? The National Pork Board was recently faced with such a challenge, and its journey to repositioning pig protein carries larger lessons for how legacy brands are adapting to the digital age.