In 1994, when Jim Collins and Jerry I. Porras wrote Built to Last, they were referring to Visionary Habits of Successful Companies. Their highly influential book focused on the results of a six-year research project into what makes enduringly great companies. Their stated goals were: “to identify underlying characteristics that are common to highly visionary companies” and “to effectively communicate findings so they can influence management”.
This is a brand-business truth. To be considered fair value and not be perceived as cheap, brands must avoid excessive marketing communications that emphasize price as the reason to buy. Excessive emphasis on price builds deal loyalty.
Brands face the challenges of optimizing contradictory customer needs. This is because customers do not want to compromise one benefit for another. Leaders face the same challenges. Leaders must figure out ways to maximize seemingly uncompromising views, such as focusing on profitability and sustainability. Or focusing on core customers’ views while satisfying other customers’ views.
Amazon and the FTC are facing off. Putting any discussions of trust-busting, Prime enrollment issues and “monopoly” aside, the fascinating, underlying discussion is about Amazon’s market. The FTC and Amazon are at odds over how much of the e-commerce market Amazon controls. And, whether Amazon’s market is e-commerce or is online marketplace.
Customers’ needs may alter. Markets may change. New products challenge the status quo. No matter how a brand-business landscape morphs, there are some evergreen brand-business marketing principles that must never be forgotten.
