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Thinking about advertising budgets? Think like Henry Ford
Ad agency people frequently hear the question, “How much money should we spend on marketing?” The question is pretty basic, but the answer is not a simple sum or percentage. Advertising budgets are challenging.
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We’re All Suffering from ‘Infobesity’: Differentiation strategy key
In an era of information overload, brand differentiation strategy becomes more important than ever. If information contained calories, we’d all be fatA Microsoft-sponsored study found the average human attention span has fallen from 12 seconds in 2000, around the time the mobile revolution began, to eight seconds in 2015.
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‘New Coke’ Failure: Why decision was too far out to swallow
In spite of the fact that tests showed the new formula tasted better than old Coke, customers believed otherwise. The New Coke failure happened because Coke tried to be something it wasn't.
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Support Local Retail: It’s a jungle out there
As Amazon and other online operators change retail’s landscape, who will survive? If we don't support local retail, it may disappear. Not so many years ago, if you heard someone explaining the Amazon effect, you could assume it was about trashing the rain forest.
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Jack Trout and Positioning: Legacy is brand success strategy
Jack Trout’s counsel to 500 Ohio business leaders in 2009 rings as true today as it did the day he delivered it. Times like these, he said, are opportunities for companies and brands.
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Amazon and Whole Foods: What will grocers do?
Amazon has become the “everything for everybody” retailer, which in positioning parlance means it’s the opposite of the focused specialists. Amazon and Whole Foods getting together solidifies this. Back in the early days, Amazon’s positioning statement read: “For World Wide Web users who enjoy books, Amazon.
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The Next Fifty Years of Positioning: the 2020s and Beyond
Where do you go when you’ve already experienced an inflatable billboard and an erasable man; hospitals, MEDsquads, flowers, and funerals; the first chicken that tastes like chicken served with the first cottage cheese with fruit inside; from spray tans and car washes to dust control and hazmat protection; pasta sauce,…
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Think like a start-up when developing your company mission
Early and often over the history of this column our counsel has been about the importance of strategy in marketing our products and services and in the company mission. We say it often because it is so critical. It cannot be overstated.
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Ground control to Elon Musk
Elon Musk is widely known for his willingness to invest his mind and his riches to stretch the envelope on a variety of frontiers, from automobiles to software to outer space travel. Along the way, Musk has been the architect of brands that are leaders in their respective categories.
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Crunch numbers to calculate advertising investment
An investment in advertising is key to driving sales and growing the organization, but despite its importance, an advertising budget is a difficult decision for many companies. Jef Richards, professor and chair of the Department of Advertising at Michigan State University makes a compelling argument: “Advertising is totally unnecessary.
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