MS_Case11_Group 1 - Marketing Strategy Case Summary:...

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Marketing Strategy Case Summary: Vanguard: Is advertising really needed? In 1950, Bogle, as a junior at Princeton, wanted a topic for his senior thesis that none had written about in any serious academic paper. He thought about the article which he had read in December 1949 in fortune on mutual funds which at that time, all mutual funds were sold with sales commissions often 8 percent of the amount invested, and it was taken off the top as a front- end load, Bogle wondered why funds couldn’t be bought without salespeople or brokers and their steep commissions, and whether growth could not be maximized by keeping overhead down. After graduation he joined Wellington Management Company and moved up rapidly. In 1965, he became the chief executive at age 35. However he decided to merge with another firm and later the new partners turned out to be active managers, he was fired as chief executive in 1974. He decided to go on his own way and had launched the Vanguard Group of Investment Companies
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MS_Case11_Group 1 - Marketing Strategy Case Summary:...

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