The title "Waterloo" of Episode 7 of "Man Men" Final Season alludes to a massive failure. It can be assumed that Don Draper will be seen dealing with this failure. The synopsis of the episode says that he will be receiving a letter that will trouble him, and also, the preview clip hints at Don landing once again on a sticky wicket.
According to the official synopsis of "Mad Men" Season 7, Episode 7, "Waterloo," "Don is troubled by a letter; Peggy may seek a new future on a risky venture; Roger receives a phone call; Pete and Cutler butt heads."
The preview clip is made of old footage. If the old footage holds a key to what is going to happen in "Waterloo," then it looks like Jim Cutler manages to check-mate Don. In one of the previous episodes, Don crashes the meeting of Jim and Lou Avery with Philip Morris's representatives to bag the account of Commander cigarettes. Don's "Why I'm Quitting Tobacco" in the New York Times made him a person unwanted in the room. And, if Jim and Lou had bagged the account, Don would have been shown the door by SC&P. Don won the first round by volunteering to quit SC&P if the firm gets the account, and then made a pitch in his favour. Afterwards, Lou said to him "You're incredible," while Jim warned, "You think this is going to save, don't you?" Jim's warning is included in the footage along with Don's offer to quit.
If the Burger Chef's campaign was showing Don's slow climb up the ladder, it seems that Philip Morris's cigarette account is going to make him again a man unwanted in the firm.
Megan is the other person who features, prominently, in the preview clip. This has trigged-off the speculations that she is likely to die in the episode. Prior to the premiere of "Mad Men" Season 7, there were rumours that Megan's story-line is based on American actress Sharon Tate's life. The actress was murdered by the Manson family at the age of 26.
The preview clip also indicates that the issue related to Chevy account will be part of "Waterloo," which is the mid-season finale.
The second instalment of "Mad Men" Final Season, consisting of final seven episodes, is speculated to air sometime in spring 2015.