Brand Growth by Douwe Radenmaker #ACEI_CO #InvestigAction #MRX

… Live blogging from Bogoto, Colombia, any errors are my own…

ACEI Bogoto Colombia

  • There are too many brands in the store to consider them all so they preselect a few and work from there
  • Motivations are not stable, they depend on experiences with things and people, resources including money, lifestage
  • what is the impact of recession of these choices
  • 9/11 drastically changed the fundamental needs and motivations of US people and Latin Americans
  • there is no such thing as beer market or a smartphone market – there is a need for social relaxation, for connoisseurship; You buy something because you NEED to do something, this helps you step over boundaries
  • Brand resonance is achieved when people become familiar with unique brand associations and relevant to their individual journey; one aspect only is insufficient
  • even this framework is unstable, it is constantly hit by disruptions that require brands to evolve, adapt, and recreate
  • Disruption of context: e.g., mcdonalds responded to the recession by lowering the price of their combo “it won’t change your life but at least you will enjoy a good time”
  • Disruption of people:  population is aging, Nintendo needs to deal with the fact that 1 in 5 Americans will be 65 or older in 2030; they are targeting more games to older people
  • Disruption of market: Samsung quickly jumped on the smart phone trend with the galaxy, but what happened to the blackberry? brands that effectively resonate over time build loyalty with their consumers
  • we need to work faster to deal with all of these disruptions
  • how to deal with these changes? innovation, communication, strengthening the core through PPPP
  • Brand resonance alone is not enough to grow your brand [you need to put a chart if there are researchers in the crowd 🙂 ]
  • if you want to touch the heart, go through the wallet
  • Path to Purchase including retailer choice, purchasing, informing/planning, path to purchase trigger – now put a spider web among them
  • this path is not the same for every brand in the category, you need to know YOUR path to purchase which is unique to each brand
  • Purchases can be planned or unplanned – do you decide at home or in front of the shelf [everything fits in a 2 by 2 grid 🙂 ]
  • Planned finder (water, beer, detergent),
  • Unplanned decider (didn’t plan to buy it and don’t know what brand to buy) – people don’t know where to find it in the store, you need to make sure they recognize the benefits of your brand  [interesting concept, never thought of things in this way]
  • Unplanned finder
  • Planned decider
  • brand growth requires brand resonance and owning the path to purchase
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