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Critical Actions For Driving Profitable Share Growth
By Nigel HollisGrowing share, particularly in an established product category, is challenging at the best of times, but it is fundamental to longer-term success. A company needs to at least maintain it is market share or it will not benefit from category and country growth. And growing slower than other brands cedes the advantage of scale, even if your sales are increasing. So while it might seem unrewarding at times, trying to grow share is worth the effort, provided you can do so profitably.
Read MoreBefore I go any further, I must make an important distinction. This article concerns driving a brand’s growth within an existing category. As such, it is likely to return less growth than launching a brand into a country with a fast-growing economy or extending an existing brand into a completely new category. However, most marketers still need to fight for market share and to do so successfully should bear these ten actions in mind.
Read MoreFor over a decade now, UPS delivery trucks in the USA have avoided making left turns. Analysis of tracking system data found that eliminating left turns – which often left the vehicle idling at an intersection for significant periods of time – would save time and gasoline. This is exactly the sort of insight that allows a company to change things for the better, but it can be really tough to find no matter how much data is available to you.
Read MoreI honestly can’t remember how I came to see this video. It features Katy Woodrow-Hill, the head of planning at Dare, describing her top four tips on becoming a ‘doing’ brand. But I thought the ideas were well worth repeating here.
Read MoreIn a recent post on iMedia Connection, Millward Brown Optimor’s Pandora Lycouri and Dmitri Seredenko conclude that Samsung can’t buy love. In “Can Samsung Buy Love?” they contend that simply outspending Apple is not going to overturn the strong emotional connection with users that Apple has earned through consistent innovation and iconic style. Maybe not, but it might help Samsung charge a price premium over other brands.
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