Thursday, August 25, 2011
Sunday, August 21, 2011
This is an interesting provocation and discussion.
What is it about being a true global brand these days? Do we still have to think global and act local? Or has the web changed all that, bringing the world together more than ever before?...….Today the significant opportunity in brand building is to maximize one idea across the globe, to create an inspirational rallying cry for a global consumer movement….….It isn’t easy to communicate across different cultures and countries while having one overall brand that really makes an impact….….Few brands act this way. Corporate culture, cultural differences, and different usage habits have stopped many a brand from realizing their global potential. There always seems to be a reason why a brand shouldn’t have one idea around the world.
Since the Internet overtook our lives, this ‘global against local’ way of advertising is becoming increasingly difficult for brands. Like never before, people are communicating and engaging with the entire world. Borders and boundaries have ceased to exist as people tweet, blog and chat online in real-time, 24 hours a day, seven days a week with just about every country on the planet.
Sunday, August 14, 2011
Innovation = (x) (x)
Now you will notice that the components are multiplicative not additive. Do one or two well and one poorly and it doesn’t necessarily add up to a positive result. Doing one poorly and two well can still doom your innovation investment to failure. Let’s look at the three equation components in brief: is pretty self-explanatory. Your innovation investment must create incremental or completely new value large enough to overcome the switching costs of moving to your new solution from the old solution (including the ‘Do Nothing Solution’). New value can be created by making something more efficient, more effective, and possible that wasn’t possible before, or creates new psychological or emotional benefits
. could also be thought of as friction reduction. How easy do you make it for customers and consumers to access the value you’ve created? How well has the product or service been designed to allow people to access the value easily? How easy is it for the solution to be created? How easy is it for people to do business with you?
is all about helping people understand the value you’ve created and how it fits into their lives. Value translation is also about understanding where on a continuum between the need for explanation and education that your solution falls. Incremental innovations can usually just be explained to people because they anchor to something they already understand, but radical or disruptive innovations inevitably require some level of education (often far in advance of the launch).
Monday, August 08, 2011
This is a very import functional distinction for marketing that often is overlooked. We deal with the customer promise in how we –in the Market Driven Growth process—define the Business Design:
Specifically, the marketing function should lead the company in defining who the target customers are and what outcomes we hope to create for them (Needs Segmentation) and the specific Value Promise for each of these customer groups dealing with the functional, economic, and emotive components of the offering promise. Not covered in this article, is also the function of defining Value Capture, how we capture value
Peter Drucker famously commented that:
"Because the purpose of business is to create a customer, the business enterprise has two--and only two--basic functions: marketing and innovation."-
“Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business."
Why did one of the founders of modern business management make such a bold statement? Why did he attribute such an important role to marketing, and how does that relate to all the other things that a business organization does?
We believe the answer lies in the definition of marketing as two essential components:
1. Making a compelling promise to select customers--the role of marketing is to make compelling promises that we can keep and to ensure that we keep the promises we have made
2. Keeping that promise--The second, and often overlooked, role of marketing is in helping the organization keep the chosen promise to target customers