sunilkmit-blog

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Amazing Amazon : the smart way to grow business by learning from users behavioral data and embracing innovation. 

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noticed Burberry in an event immediately after Prof. Renée Richardson Gosline’s class

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who is your target?

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The Power of Brand Alignment

the Singapore Airlines flight attendant, Singapore Girl, was created in 1968, along with the culturally-significant uniform, inspired by the Malay sarong kebaya. It has remained virtually unchanged, and has made the Singapore Girl into the airline industry’s most recognizable living brand icon.

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How big is the chasm is? What it makes product adoption at marketplace, there could be thousands of things but most important are Roger’s 5 factors. 

1. Relative advantage : degree to which an innovation is perceived to be better for e.g. favorable economics or motor social status 

2. Compatibility:  degree to which an innovations is perceived to be consistent with the existing values, past experiences, current processes and needs of the potential adopter. 

3. Simplicity: degree to which an innovation is easy to understand and use i.e. intuitive appeal. 

4. Trail-ability: degree to which an innovations can experimented with on a limited, low commitment basis i.e. risk reduction. 

5. Observability: degree to which the results i.e. benefits of an innovation are visible to others i.e. copycat factors. 

Focus one at a time and hit them all in sequence. The most difficult step is “crossing the chasm” from the early adopters to the early majority. That chasm separates breakthrough products like the iPod from niche products like the Rio MP3 player. Starbucks wasn’t the first coffee brand to offer a quality $4 latte. But it was the first to make them mainstream. When brands crosses the chasm, how can it remain attractive to innovators and early adopter is the key. 

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Label matters

It was only a decade ago when many industry analysts looked at two looming trends—the rise of retail consolidation and proliferation of private labels—and issued dire warnings about the power of consumer packaged goods brands. However, their predictions turned out to be premature. Brands aggressively managed overhead costs, pursued dynamic growth in developing markets and gained scale, efficiency and entry to new markets

[sunilkmit-blog]

How big is the chasm is? What it makes product adoption at marketplace, there could be thousands of things but most important are Roger’s 5 factors. 

1. Relative advantage : degree to which an innovation is perceived to be better for e.g. favorable economics or motor social status 

2. Compatibility:  degree to which an innovations is perceived to be consistent with the existing values, past experiences, current processes and needs of the potential adopter. 

3. Simplicity: degree to which an innovation is easy to understand and use i.e. intuitive appeal. 

4. Trail-ability: degree to which an innovations can experimented with on a limited, low commitment basis i.e. risk reduction. 

5. Observability: degree to which the results i.e. benefits of an innovation are visible to others i.e. copycat factors. 

Focus one at a time and hit them all in sequence. The most difficult step is “crossing the chasm” from the early adopters to the early majority. That chasm separates breakthrough products like the iPod from niche products like the Rio MP3 player. Starbucks wasn’t the first coffee brand to offer a quality $4 latte. But it was the first to make them mainstream. When brands crosses the chasm, how can it remain attractive to innovators and early adopter is the key. 

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Crossing the Chasm

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People Buy Brands, less products!

Brand name usually come with a higher price tag, still people prefer buying brands for verity of reasons such as personal image, social acceptance, loyalty and confidence in experience. Developing a strong company or product brand influence customer behavior. When people buy brands to the company in a way that goes beyond just the function of its product. Compelling brand storytelling is trend to sell products by companies. People don’t buy just products, just packaging, just advertising but they buy some total of whole brand. for example Coca Cola, Apple, Nike. When consumers trust a brand, it makes them loyal to keep buying over and over again. They are ready to pay premium for brands because he brand has created a perception of quality, consistency, and trust. In case of the Corona advertisement campaign, the crafted message is Corona experience- on the beach, sunshine, lime on corona, relaxation image. When people see the ad, they experience of being in that moment. So merely having demand, unique product or ip ownership is not enough, building strong brand, brand narrative story is equally important. So Brand Matters. People drink marketing, not beer! 

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Powerful branding with embracing transparency 

“Your personal brand should be like water: not only clear, but transparent to the public. People thirst for that, and they will drink you up.”― Jarod Kintz

People like transparent leaders and companies. There is a must watch famous TED talk of Morgan Spurlock titled ‘The greatest TED Talk ever sold’ about embracing transparency and how important it is in branding. https://www.ted.com/talks/morgan_spurlock_the_greatest_ted_talk_ever_sold

[sunilkmit-blog]

“Your personal brand should be like water: not only clear, but transparent to the public. People thirst for that, and they will drink you up.”― Jarod Kintz

People like transparent leaders and companies. There is a must watch famous TED talk of Morgan Spurlock titled ‘The greatest TED Talk ever sold’ about embracing transparency and how important it is in branding. https://www.ted.com/talks/morgan_spurlock_the_greatest_ted_talk_ever_sold