Brand Strategy And The Power Of Surprise
Markets today operate in a vicious circle of increasing consumption. The more companies deliver, the more customers expect.
NEW THINKING
Markets today operate in a vicious circle of increasing consumption. The more companies deliver, the more customers expect.
Stories add to the humanity of brands. They help consumers think through and act upon a narrative that is fundamentally rooted in human truths.
Behavioral economists refer to the decision making process brands use to set a price in the minds of consumers, especially when those buyers are dealing with something that is unfamiliar to them, as “anchoring”.
We often talk about “brand” as if it is one thing. It’s not of course – in fact, the meaning and the use of the term differs, quite markedly, depending on the context. By my reckoning, brand is categorized in at least 21 different ways. (So much for the single minded proposition!). In no particular order:
What’s the difference between a budget airline and a pig? Pigs fly more often – and on time. Harsh perhaps, but it’s a reminder that in a market, there is always a price to pay, and the price is not just about money down.