Wednesday, March 28, 2012
Every product has a life cycle
“Lean” business models are on my radar and I’ve been reading some disturbing stuff. Probably the most disturbing is the notion that some of these folks are talking about a model where competition is not considered. What a mistake!
I think the root of this is grounded in the desire to establish a leadership position in the marketplace. Leadership brands grow the market, encourage trial, and largely speak to an emotional benefit. Challenger brands are about market share, targeting existing users, and offering a product or attribute based benefit. Both leadership and challenger brands are dependent on deep contextual understanding (which includes competition).
Here’s a model I use in my Market Research class which shares the product life cyle alongside tips for communication efforts:
Introduction– develop awareness of product benefits, gain trail by early adopters, to change consumers from existing alternatives, pricing to recover initial costs, utilize exclusive or selective distribution
Growth– signified by the advent of competition. Objectives should be to establish or defend market position, establish a strong market identity, develop brand preference, enhance product features
Mature– sales have generally reached their peek. Objectives should be to maintain market share, maintain brand loyalty, consider the introduction of new products, potential cost cutting if commoditized
Decline– prepare to remove the product from the market, lower all marketing mix expenses, eliminate any items not producing direct profit, switch to new or different distribution structure and pricing structure
POSTED BY Alix Morrow AT 12:58 pm
Friday, March 9, 2012
Dialogue with Nancy Tag
Today, I had the pleasure of speaking with Nancy Tag, Media and Communication Arts Chair, Professor, AD/PR, City College of New York (CCNY). Nancy and I first met a couple of years ago when when she interviewed me to be an Adjunct at CCNY. She has since written and published Ad Critique, a book we can all benefit from reading (and, then reading again!). I am thrilled to be able to share with you all our conversation about the book and about the skill and importance of ad critique.
“Ad Critique teaches advertising, marketing, and management students—both the “suits” and the “creatives”—how to effectively judge and critique creativity in advertising. This textbook is an instruction manual, a facilitator of dialogue, and a companion piece to classroom content. Its lessons result in actual skills that enable students to look at the creative product and embolden them to say something constructive and worthwhile.” (from the Sage Publications website)
AlixCompany Dialogue with Nancy Tag (click here)
Purchase Ad Critique here
Specifically, the Dialogue flow includes:
1. How did the idea to write Ad Critique come about?
2. Are you using it in your classroom(s) today?
3. I love the example of asking your students to critique advertising at the start of the semester (with pulled print ads placed around
the room for discussion) and then asking them to do it again at the end of the semester and with their work. It can be difficult to get into critique when it’s your (or your team’s) work. Outside of reading Ad Critique, what would you say we can do as professionals to foster good critique?
4. “Letting your strategy show” is another favorite. Would you extend for our listeners what you mean by showing your strategy?
5. What do you think advertisers and marketers need to know about critique given the new normal with diverse and eclectic ways of
communicating with consumers? I, of course, love the quote (p 172) “No matter how amazing the work is, it needs to be strategic.” What else would you say Ad Critique readers need to know about the application of stellar critique skills given communication shifts and the proliferation of social media?
POSTED BY Alix Morrow AT 8:41 am
Wednesday, February 29, 2012
In town for SXSW? A few favorites…
It’s always nice to have local recommendations- here are my Austin favorites:
1) Bacon http://www.baconaustin.com/
Excellent for all meals, get there early for breakfast. Substitute a ‘dropped biscuit’ for the toast if ordering the All American. Fountain Big Red soda!
2) Barley Swine http://barleyswine.com/
“Barley Swine, by Chef Bryce Gilmore, is cleverly named for the chef’s fondness of both pork and beer, which will naturally be prominent fixtures on the menu.” (need I say more?)
3) Contigo http://contigotexas.com/austin
If I’m planning a get-together with friends, this is my favorite spot. If I am picking a dinner spot, it’s Contigo. Last Saturday, I ate dinner at the bar and had the Rabbit & Dumplings and Fall Salad. Both amazing (and I can’t say salads normally touch my food button). Dog friendly, great outdoor space. Get an Old Fashioned from the bar.
4) Easy Tiger http://www.easytigeraustin.com/
Homemade pretzels you’ll want to come back to Austin for. My friends that drink IPA’s raved about the selection. They also have a backyard beer garden.
Enjoy!
POSTED BY Alix Morrow AT 9:38 pm
Thursday, February 23, 2012
An insight for building creative teams
I like to talk about Planning. It’s fun and there’s really no wrong angle as Planning differs so much from agency to agency / client to client / region to region / team to team / and person to person. My guess as to ‘why’ is a Planner’s answer- it’s likely reflective of one’s surroundings. However, I can share an observation (based on my professional experience across agencies, clients, regions, and teams) for creative team building where a Planner, Art Director (AD), and Copy Writer (CW) are all imperatively part of the mix. Most Planners have an AD or CW dominate gene– very rarely do you find both AD talents and CD talents in a Planner (and if you do you should get to know that person pronto because they are an extremely rare breed). Interestingly enough, the very talented ADs and CWs are innately Planner-y.
If you’re building a creative team and want to better understand your potential planner’s talent gene, you could use a creative exercise where you ask the candidate to provide a sample of originality on an 8 1/2 by 11 sheet of blank white paper. It’s always interesting (and insightful) to see what the person puts on the piece of paper.
POSTED BY Alix Morrow AT 11:26 pm