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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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Sears' saga found in snowblowers
Former Sears executive Steve Goldstein was so shocked when he found snowblowers for sale at his company’s Miami store that he wrote the book, “Why are there Snowblowers in Miami?”
That is but one of myriad anecdotes in Sears’ 120-year history, yet it reveals much about the thinking of those who…
Want to win in business? Google it.
Your business and your competitors have been Googlized. Google is the new Yellow Pages for everything. If we want to know how many times man landed on the moon, we Google it.
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Brand Extension: Mayo move spread Heinz too thin to win
It happens every time I give talks here and around the country on brand positioning and brand extension. Rather than using PowerPoint presentations, I use products as props.
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‘Positioning map’ can reveal your competitive advantage
Today, more than ever, businesses need the right strategies to compete and win in the hyper-competitive marketplace. No market or industry is exempt from the need to focus on and adjust the way they’re doing business.
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Competitive Business Strategy: Find your playground
Does your business have a clear and well-articulated statement of strategy?
If not, you are at a disadvantage. You might have heard it said, “If you don’t know where you’re going, any road will get you there.
Every 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.
Building Durable Competitive Advantage
Warren Buffet, the “Oracle of Omaha” and arguably one of the greatest investors of all time, is a man whose perspective is widely respected across a variety of business disciplines. His yardstick for selecting companies in which he might invest also measures up in the brand-building world.
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Find your business’ marketing Holy Grail
In the Christian tradition, the vessel Jesus and his disciples used to drink wine at the Last Supper is called the Holy Grail. Through the centuries, the Holy Grail has come to be known as something very special and highly sought for its miraculous powers.
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Old theory still explains a lot about business today
Psychologist Abraham Maslow in 1943 introduced a concept that today can help guide how we run and promote our businesses to achieve greater success. It's still relevant in advertising psychology today. You might remember Maslow’s “Theory of the Hierarchy of Needs” from your Psychology 101 class.
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