Competing with Big Blue.
| Memorex Corporation has had a colorful
history since its formation in the late sixties. Much of its success - including
a rescue from almost certain disaster after trading of its stocks was suspended
on the NYSE - was due to the performance of its European operations. Memorex
competed directly with IBM with disk storage and other peripheral products.
Each of 12 European Memorex subsidiaries enjoyed a high level of independence in matters pertaining to promotion and PR. However, a central PR and advertising function co-ordinated efforts and acted as a major source of news and as a resource for pan-European publications. Regular editorial visits to Memorex production facilities, corporate news, exhibitions, white papers, newsletters and other support material was generated at the Memorex European headquarters in London. Perhaps ironically, on the same week that the company stopped trading on the NYSE, a major article appeared as a cover story in a UK MIS publication describing the healthy financial basis of the company's European operations.
The strong European media links helped to soften the effects of the negative corporate financial reports. Within a short period of time Memorex rebounded.