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How Brands Really Grow
While brands like McDonald’s, Aldi and Amazon all managed to grow market share during the recent recession, so did Audi, Chipotle, and iPhone. Yet, Audi, Chipotle, and iPhone are not known for offering low prices, so how did they manage to grow their market share? In this Point of View, Nigel Hollis, Chief Global Analyst, Millward Brown, explains that understanding what makes your brand different from your competitors, and making it salient & meaningful to your audience is key to growing your brand.
The RadioShack Name: Worthless or Worthwhile?
Soohyung Kim's hedge fund, Standard General, recently saved struggling electronics retailer, RadioShack from liquidation. While the brand’s long journey to bankruptcy is well-documented, clearly Mr. Kim sees some value in the brand. Many have argued that the brand’s outdated name contributed to its downturn, but in this article Kevin Singer, Senior Partner at Millward Brown Vermeer argues that the RadioShack name may be key to the future success of the business.
Think Different to Be Distinctive
There are many schools of thought about what makes brands grow. In his book,
How Brands Grow
, author and Prof. Byron Sharp claims that brands should ‘
seek meaningless distinctiveness
’ instead of meaningful differentiation. However, in a recent blog post for
, Nigel Hollis, Chief Global Analyst, Millward Brown, argues that the two concepts aren't inherently opposed to one another, and that differentiation and distinctiveness are individual qualities that are often associated with the same brand.
What Devices Are Your Target Audiences Using?
Different generations access digital in different ways to shop and consume content. Understanding these differences between generations will be key for marketers to ensure that they are targeting their preferred audiences on the device that they will most likely be using. Millward Brown Digital interviewed over 1,000 consumers across three generations (millennials, Generation X & baby-boomers) about their device usage, and this
infographic shows their findings.