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Understanding your customer is key to differentiation
Only when we know what is motivating our prime prospect are we able to find our differentiating idea, our position. Business today is conducted in intensely competitive, technology-driven global marketplaces. Whether you are an international conglomerate or a local mom-and-pop shop, there is no sign of the intensity decreasing.
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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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Growth Strategy: Grow your company by growing your reach
Marketers have heard for generations that 80 percent of our business comes from 20 percent of our customers, but a strong case can be made that this generalization doesn’t much apply anymore — if it ever did. Pareto PrincipleYou might have heard of the Pareto Principle.
View Web PageEvery business should be building an economic moat
When investing in a company, Warren Buffett looks for those who are building an “economic moat. ”
The term is apt. Just as a watery moat protects a castle, building an economic moat is the protection a business gains by virtue of its competitive advantages.
Brand Reinvention: Reinvent or die
What do you do when even a good coat of polish doesn’t make your shoes shine anymore?
It might be time to buy a new pair of shoes. Whether we are talking shoes or business, how we handle disruptive threats makes all the difference in the world.
AI-Powered Marketing Offers One-to-One Personalization
AI-powered marketing is a buzz term in most of the online marketing pubs we read. A question typically posed is: Do any of us know how artificial intelligence will affect our marketing efforts? The answer is: not perfectly. Yet AI-powered marketing is beginning to show glimpses of viable use.
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Positioning and Papa John's: Backstory of how positioning propelled pizza giant
Papa John’s had brand positioning, but didn’t know it until a chance conversation. Positioning and Papa Johns go way back. John Schnatter, the founder and namesake of Papa John’s Pizza, started making pies in an oversized closet in his family’s tavern.
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Walking line between corporate social responsibility, social division
We care more today about supporting companies whose values are aligned with our values. Corporate social responsibility is important. The reason might be due to the power of social media. Maybe it’s what matters most to millennials. Maybe it’s where we are moving as a society overall.
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Big Data and Business: 2018 is the year of the algorithm
Making predictions is risky business, but putting our heads in the sand might be even riskier. As we begin another year, it is customary to look ahead and make decisions about where things are going. To that end, it would pay to heed the advice of J.
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Niche Differentiation Strategy: Mine riches in niches
Charlie Munger knows a bit about making money. Charlie, 94, is worth close to $2 billion. He is the very longtime partner of Warren Buffett, 87. Together they run Berkshire Hathaway. Both still go to work every day. Munger said, “The No.
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