Consumers look for products and brands that are relevant to their needs. Self evident. But the ways in which they make those choices are much more complex than quality or availability because they are so much more human.
Differentiation is acknowledged by most as the goal that every marketer should be seeking. But the enthusiasm for the pursuit masks a common misunderstanding – in the context of brand strategy, different and difference are not one and the same.
It’s increasingly easy to be a brand that people talk about in glowing terms, part of a sector that appears to be booming, and yet on a downward slide financially. It’s a sign perhaps of just how much we now focus on (the wrong) numbers at the expense of understanding true value.
As marketers we come close to taking brands for granted. But while many would say they now get the theory, the practice of brand-building is not as simple as they might like to believe.
Every marketer is haunted by fear of missing out. As trends are identified and balloon, the decision to ignore or capitalise becomes more urgent. How do you decide what to pay attention to and what do you let pass you by?