Management guru Peter Drucker reminds us, âThe purpose of business is to create a customer.â The driving force behind this step is developing customer intelligence. You want to become masterful at generating actionable consumer insights through web surveys, focus groups, one-on-one in-depth interviews, in-store interactions, and more. Hereâs...
Every company wants to be in a position where its customers love and trust them. That's where profits are high and loyalty is strong - critical considerations for the long-term health of the business. But sometimes, companies make choices that diminish the relationship they have with...
No product is appropriate for every market. Clarifying your ideal target markets is a vital element in formulating your Branding strategy. Factors might include demographics, psychographics, ethnographics, drivers of need, buyer personas, online/offline, and geography. Remember you canât profitably pursue every market so you want to determine...
Crocs werenât created to be beautiful. 200 pairs of distinctively shaped, lightweight footwear were created for the 2001 Fort Lauderdale Boat Show. They sold out quickly. This was the brandâs first step to superstardom. More than 720 million pairs of Crocs have been sold since...
Shortly on the heels of the Joe Rogan debacle, in which Spotify found its user base in conflict over the podcasterâs misinformation, the brand announced it was now in partnership with Walmart. In the deal, new and existing customers of Walmart Plus - the membership...
Of all the factors that go into creating Brand Lovers â those shoppers who will come to your store time and time again, even when they have other convenient options â trust is the one thatâs entirely within the brandâs control. No matter whatâs happening...
Because I have small children, I have seen The Walt Disney Company movie Encanto about 37 million times. And this experience has made me wonder: does every brand have a Bruno? We Donât Talk About Bruno - Whatâs That About? A quick summary for those who havenât seen the...
Marketers have asked the perennial question: What makes customers happy? Cult Brands have already cracked the code. By definition, Cult Brands sell lifestyles and provide opportunities for their brand lovers to make experiential purchases. When youâre buying a Harley, youâre not only purchasing a material good, youâre also buying into...
Cult Brands Are inclusive and actively make customers feel welcomed In Alexander the Greatâs conquest of Persia, the Macedonian King upset his military compatriots and childhood friends by marrying Roxana. Roxana was the daughter of a minor Persian baron. That is, she was not from Macedonia; she...