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Chapter 5 Learning from Mistakes ASP was the first Traditional supermarket operator in the United States, with its roots going back to 1859. In its heyday, the firm operated over 4,200 stores. During the period from 1915 to 19T5, AISP was the largest grocery retailer in the country. However it suffered a long, painful decline that led to multiple reorganization efforts as well as bankruptcies. in 2015, the long struggle to revivethe firm came to an end when, as part ofa bankruptcy filing, ASP sold off or closed its final 256 stores.1 What happened to this retailing icon? They were simply stuck in the middle. When it was on top, ASP provided a clear value proposition for its customers. It was one ofthe most cost- efficient retailers in the market while providing a wide array of products for its customers. As a result. it had both cost and differentiation advantages over its rivals. However, things started to turn in the 1950s. Ratherthan invest in, expand, and modernize its stores, its controlling owners distributed most of its profits to shareholders through large dividends. At the same time, new and aggressive competitors started to enterthe market, and these competitors eroded A8P's distinctive positioning. In the battle to win the business of costconscious customers, ASP faced stiff competition from massive general market retailers, most notably Walmar't, as well as focused discounters, such as dollar stores and discount grocers, including Aldi. Customers looking for a higher level of service and specialty foods gravitated to grocery retailers that offered a higher level of service in larger stores, such as Wegmans, and newer highend providers, such as Whole Foods, that offered gourmet foods and wider organic food product lines. A8P was initially slow to respond to these challenges. When they finally did respond, as Jim Hertel, a grocery industry consultant stated, r'They got caught in a downward spiral of sales declines that forced them to cut costs.\" This resulted in challenges of hiring enough qualified staff and limited funds to update or upgrade stores. Even so, they were still at a cost disadvantage to both Walmart and Aldi. This left A&P with both higher prices than Walmart and other discounters and stores that felt old and dirty. In other words, the firm offered little in terms of value for its customers. After its initial bankruptcy, A8P attempted to modernize its stores and rebrand itself as a more upscale grocery retailer but lacked the financial resources to follow through on the change. Discussion lQuestions What decisions did ASP make when it was successful that led to its laterfailure? How should the firm have responded to the new competitive challenges it faced? What firm do you see today that faces similar challenges? How should this firm respond and act to reinforce its strategic position