Challenger Brands - strategies to make market leaders sweat
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I put this presentation together whilst reading Adam Morgan's book 'Eating the Big Fish' for an AdSchool assessment. In it I give an overview of the 'Eight Credos' of Challenger Brands and provide some examples from both Australia and overseas. Eating the Big Fish is a great book and a must-have resource for any marketer or brand planner.
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Challenger Brands - strategies to make market leaders sweat
- 3. WHAT IS A MARKET LEADER? • Size advantage • „Increasing returns‟ • First, best or only in their category • Highest brand loyalty & purchase frequency • Highest brand awareness CHALLENGER BRANDS
- 4. WHAT IS A CHALLENGER BRAND? • They aren‟t the number one brand in their market • Ambitious beyond their means • They are successfully challenging the market leader CHALLENGER BRANDS
- 7. THE 8 CREDOS • Intelligent naivety CHALLENGER BRANDS
- 8. “I‟ve had great fun turning quite a lot of industries on their head and making sure those industries will never be the same again” – Sir Richard Branson CHALLENGER BRANDS
- 9. THE 8 CREDOS • Intelligent naivety • Building a “lighthouse identity” CHALLENGER BRANDS
- 11. THE 8 CREDOS • Intelligent naivety • Building a “lighthouse identity” • Become the thought leader CHALLENGER BRANDS
- 13. THE 8 CREDOS • • • • Intelligent naivety Building a “lighthouse identity” Become the thought leader Create a symbol of re-evaluation CHALLENGER BRANDS
- 15. THE 8 CREDOS • • • • • Intelligent naivety Building a “lighthouse identity” Become the thought leader Create a symbol of re-evaluation Sacrifice CHALLENGER BRANDS
- 16. “If you‟re not pissing off at least 50 percent of the people, you are not trying hard enough” – Yvon Chouinard, CEO of Patagonia CHALLENGER BRANDS
- 17. THE 8 CREDOS • • • • • • Intelligent naivety Building a “lighthouse identity” Become the thought leader Create a symbol of re-evaluation Sacrifice Overcommit CHALLENGER BRANDS
- 19. THE 8 CREDOS • • • • • • • Intelligent naivety Building a “lighthouse identity” Become the thought leader Create a symbol of re-evaluation Sacrifice Overcommit Enter popular culture CHALLENGER BRANDS
- 21. THE 8 CREDOS • • • • • • • • Intelligent naivety Building a “lighthouse identity” Become the thought leader Create a symbol of re-evaluation Sacrifice Overcommit Enter popular culture Be ideas-centred CHALLENGER BRANDS
- 23. THE 8 CREDOS Intelligent naivety Building a “lighthouse identity” Become the thought leader Create a symbol of re-evaluation Sacrifice Overcommit Enter popular culture Be ideas-centred CHALLENGER BRANDS
- 24. WHAT DOES THIS MEAN FOR SUITS?
- 25. These strategies of Challenger Brands can be applied to any brand with challenges CHALLENGER BRANDS
- 26. INTERESTED? • „Eating the Big Fish: How challenger brands can compete against brand leaders‟ - Adam Morgan. $21.04 on Amazon • http://eatbigfish.com/ • Find this presentation on SlideShare at www.slideshare.net/JohnBlaskett CHALLENGER BRANDS