A day does not go by without a brand reference to value. In an uncertain environment, brands are particularly laser-focused on delivering value. Brand leaders say offering value is their strategic priority. Brands do need customer-perceived value for enduring profitable growth. But three brand-self-inflicted problems prevent customers from perceiving and receiving brand value.
Nike’s collaboration with Skims, Kim Kardashian’s billion-dollar shapewear empire, is one of the most talked-about partnerships in years. Within days of the announcement, Nike’s market cap surged by $6 billion, a clear signal that investors saw financial upside.
In uncertain times, a promise is not enough.
The possibility exists that U.S. food manufacturers will need to eliminate food colors from their offerings. If this happens, products may not look or taste the same relative to customer expectations. What if Cheetos no longer have Yellow (6) food coloring? What if Blue Mountain Dew no longer has Blue (1) and Red (40)? How will this potential Federal ruling affect the quality perceptions of these (and many, many other) brands?
From all my years in research and consulting, I think I’ve learned a thing or two about marketing worth sharing. Enduring fundamentals, mostly—yet often overlooked. So, this year, I want to share some snippets for your consideration. I hope they’re helpful. This week’s thought: Marketing is about wants, not needs.
