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Of course, a brand needs to have a bulls-eye target group. But, there are other core customers whose needs and occasions also need to be satisfied. The goal must be to maintain established core customers while generating new core customers.
Just as Dior defined a new luxury couture in post-war France in the late 1940s, all luxury brands must start redefining what it means to be a luxury brand today. Does luxury extend to the way in which a product is manufactured? Does the luxury brand’s provenance and promise extend to how the luxury brand is made?
Danone and Nestlé are reviewing their strategies so each company can cater to users of weight loss drugs. Instead of seeing this new food revolution of new GLP-1 offerings as crass, observers and critics should understand that brands can live forever but only if properly managed.
There is a powerful conflict raging in brand management. This conflict reflects how brands define customer service. The conflict is a paradox that most brands have not yet solved: it is the paradox of DIM vs. DIFM: Do-It-Myself vs. Do-It-For-Me. At its heart, the DIM vs. DIFM paradox is about customer control. Technology, apps, mobility, […]
Here is some brand common sense. In order to be purchased, a brand must first be considered. The original advertisements for the New York State Lottery: “You can’t win it if you’re not in it.” Well, the same goes for consideration and purchase. Common sense. Yet, a major consulting firm McKinsey & Co. has collected […]
The 3G Capital approach is to buy a company and cut costs until there is nothing left to cut. To continue to earn profit, 3G Capital has to buy another company to make the initial investment look profitable. So, it should not be a surprise that 3G Capital took a sledgehammer to Kraft Heinz, closing […]
In 1993, newly minted IBM CEO, Lou Gerstner, when asked about his vision for the company, replied that IBM was in a mess and he did not have the time now to indulge in of vague forecasts. The press reacted poorly. Descriptions of Mr. Gerstner’s vision for IBM would be helpful for quarterly guidance. The […]
Make life easy. Keep it simple. Be convenient. These are benefits that will never go out of date. The proliferation of product and service options, and the diffusion of accelerating technologies have made decision-making more difficult than ever. Information overload sometimes confuses rather than confirms, making us uncertain. Through the use of technology, we some […]
On January 15, 2018, three of the four top stories in Google News’ Technology section were about cars. Coincidently, the CEO of Fiat Chrysler Automotive (FCA), Sergio Marchionne, said, in an interview with Bloomberg, that automotive companies have to come to terms with the fact that pretty soon automotive news will no longer be about […]
Institutional trust is in serious decline. Sadly, as the surveys show, people around the world no longer trust government, healthcare systems, political systems, educational entities, leaders, experts, social systems, financial communities, news media, religious institutions, and so forth. Increasingly, we trust peers of unknown expertise on rating sites and their reviews. We trust online communities, […]
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