One of the typical questions marketing people ask themselves is, What’s the lifetime value of a customer?
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Al Ries, Author at Branding Strategy Insider - Page 4 of 10
A 5-page foldout magazine advertisement opened up with the following 39 attributes spread out over two pages: Renegade, fearless, unexpected, bold, true, spontaneous, curious, intriguing, unwavering, rare, brash, provocative, intuitive, genuine, daring, uncommon, irreverent, brazen, absolute, unusual, visionary, idyllic, proud, maverick, wild, undaunted, resolute, poetic, dynamic, soulful, unconventional, strong, romantic, authentic, brave, unorthodox, deft, radical, dreamer.
Whenever a fashion or technological change occurs, an existing brand, no matter how dominant, faces a choice. Should the brand be ‘stretched’ to encompass the new fashion or technology or should the company launch a second brand? If the change is significant enough, the better answer is almost always ‘launch a second brand.’
You know the kid’s game. Rock (fist) breaks scissors. Scissors (two fingers) cuts paper. Paper (flat hand) covers rock. So what’s the best strategy in a game of rock/scissors/paper? The answer is obvious. It all depends on what strategy the other kid uses. So, too, in marketing.