“There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.”-Sam Walton
It’s surely happened to you.
You’re driving through a city, which holds a ‘legendary’ brand with historic boxcar success and wonder.
‘What’?
Never underestimated the power of incumbency.The market leader has a true advantage on anyone who prepares for a head-on battle.
You muse, “This CANT be the legend and #1 brand – right?”
The mechanics – sloppy, the talent – messy.
Talk about bake sales – lost dogs – high school football.
You might wonder of ‘better’ ways to deliver their product.
The leader has the one thing that trumps everything else – relationship.GREAT brands engage and solidify a powerful bond with their community – the audience.
It’s proven that when a new competitor takes on the incumbent, perceptions from the new kid in town are ‘printed’ on the market leader.
This phenomenon isn’t isolated to media brands.
The famous Coke vs Pepsi test, Coke drinkers not only perceived they were drinking Coke (when sipping Pepsi) but the onslaught of ensuing advertising of Pepsi’s victory ‘printed’ better – in Coke’s advantage.
In his book, “Blink” Malcolm Gladwell observed that ‘it’s our BRAINS that love Coke, not our taste buds’.
No matter what you think about your product, the audience will engage the brain to make the final decision.
If you’re the market leader or the new kid, continuously search for avenues to galvanize your audience relationship.
When is comes to choosing a favorite, the audience is always right.
Next Week: Dehydrated
