Tuesday, October 27, 2009

8 Guaranteed Ways To Kill Your Brand

As important as it is to work a strategy to develop a successful brand, it is important to know avoid the pot holes along the way. This was an interesting article from this morning's MediaPost, cant say I agree with everything 100% but it is not a bad start.

Here are some of the key points.

Myth #1 - Follow the leader

NB - You cannot fail for following the leader! Game Theory has proved the best fail proof strategy is "Monkey see monkey do"

Myth #2 - Better safe than sorry

NB - Test, Test, Test then Act! Better safe than fool hardy.

Myth #3 - Recessions are bad times to introduce new brands

Myth #4 - National brands are dead

Myth #5 - Value = price

Myth #6 - More SKUs = more market share

Myth #7 - Consumers are marketers

NB - Start with listening to Consumers, but marketer holds the controls

Myth #8 - The answers lie in research

NB - Start with research and end with research! Focus on the right questions not just right answers.