Thinking back to your university marketing classes, you undoubtedly were exposed to the term and concept of “cognitive dissonance.” We, marketers, might define it as psychological discomfort of the target customer brought on by a belief or feeling that undermines the perceived value of a (potential) purchase. It can disrupt a sale or trigger dissatisfaction following […]
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When I think back on all the crap I learned in high school, it’s a wonder I can think at all … Paul Simon Many organizations recognize the need for marketing training to grow skills and enhance performance. After all, given the plethora of product choices available to target customers, and sameness in their offerings, […]
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The Business Roundtable has stirred quite the controversy with expanding their scope to serving all stakeholders rather than making shareholders their priority. Those who oppose their “Statement on The Purpose of a Corporation” https://qz.com/work/1690439/new-business-roundtable-statement-on-the-purpose-of-companies/decry that it rejects the long-held theory espoused by the late economist Milton Friedman. He posited that the focus should be on creating […]
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I must admit that I scoff at management declarations that they are going to win in the marketplace through “superior execution.” Even achieving an execution consistent with the strategy is a challenge for most organizations and, when realized, is mediocre at best. There’s an awful lot of slippage between strategy and execution as there can […]
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I caught an episode of “So you think you can dance” on TV the other night. I’m fascinated by what these dancers can do with their bodies and how effortlessly they move through the air. As a martial artist, I envy their body mechanics and incredible athleticism. If only I could move as they do—unfortunately, […]
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If you’re a regular reader of DISPATCHES, you know that from time to time we like to go digging into our brand-building files from yesteryear—with the intention of recalling to mind a timeless principle or two. Since we both spent (and took so much from) our earliest “yesteryears” while at Procter & Gamble, it’s no […]
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This exploration to find an answer to the question of why cheaper is better for the customer would seem to be a no-brainer. The apparent answer is, “duh, it’s cheaper!” However, that’s not the case in all situations. Customers will pay a healthy premium for something because they can, and it bolsters their image. They […]
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The other day I explored “when” cheaper pricing is better—positioning that a competitor claims to be the same as the leader but cheaper. Today’s musing is “why” cheaper pricing is better. Now, I’m not advocating that we compete by being the low-cost choice. In fact, virtually all my clients choose to market their brands with […]
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The saying goes, “you get what you pay for.” The meaning is clear: if it’s cheap, it probably means it’s of poor quality. Or is it? One of the strategies for winning is the promise of “better value.” There are three approaches to creating a perception of better value: 1) value-added—offer more for the same […]
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My wife has begun preparing for our move from the family home despite it being several months into the future. She came across a stack of Approach magazines, which I diligently read a lifetime ago when I was a young Naval Aviator. Approach, a publication of the Naval Safety Center, focuses on Naval and Marine […]
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