CMO To CEO: The Next Era Of Brand Leadership?
Chief Marketing Officers haven’t had it this good for some time. As Jack Trout observed the average tenure not so long ago stood at less than two years.
NEW THINKING
Chief Marketing Officers haven’t had it this good for some time. As Jack Trout observed the average tenure not so long ago stood at less than two years.
The “Ice Bucket Challenge”, the viral awareness campaign to raise money for ALS, has swept the world in the past month or so, raising over $100 million for a cause that was previously under-profiled, and flooding social media, so to speak, with videos of people from all walks of life pouring ice-cold water over themselves.
At dinner the other night, the conversation turned to carpet ads. Why, someone asked, do retailers keep advertising carpet ads when most people only buy carpet once every 7 – 10 years?
To label something is to name it, to give it an identity.
Two universally scarce commodities are time and money. Some people have one or the other but not both, other people have neither, while a few fortunate people have both. Brands can command a price premium or a time premium or both. This leads into a universal cross-category segmentation scheme.