The Bertelsmann-owned French book club, France Loisirs, has successfully operated a subscription-based business model delivering a remarkably high profit margin. Considering rising economic pressure and a declining member base, the case introduces the club's basic business principles and summarizes strategic options for sustainability and further growth from a top management perspective.

The Bertelsmann-owned French book club, France Loisirs, has successfully operated a subscription-based business model delivering a remarkably high profit margin. Considering rising economic pressure and a declining member base, the case introduces the club's basic business principles and summarizes strategic options for sustainability and further growth from a top management perspective.

The case describes the rapid development of BCP into one of the largest banks in Portugal with 6 distinct networks and hundreds of branches. Its growth was based largely on a strategy of customer responsiveness, rooted in a sophisticated approach to market segmentation and in a bold use of information technology and innovation to gain competitive advantage.