Book Club Friday's (#7) - How brands grow, Byron Sharp

eldergill (52)in #bookclub • 6 years ago

The author

Bryon Sharp was born in New Zealand and is a Professor of Marketing Science at the University of South Australia. He is most famously known for his books dedicated to Marketing and branding, these books include: How brands grow (parts 1 and 2) and Marketing evidence theory and practice.

A little bit about the book without spoiling it

This book is very data-driven and is full of studies and information on how brands have succeeded and failed in certain aspects of their marketing strategies. The pages are full of diagrams and tables using real-world data from top companies such as Coca-Cola, Pepsi, Daimler AG, Unilever. These companies own most of the brands we know and love today and Sharp dissects the effectiveness of their marketing strategies and assesses if such practices actually work in this book.

It is fantastic visually if you learn and are able to understand the data in tables and graphs easily. However, I personally struggle with books of this nature. Even though it isn't intended as a textbook, it felt like one as I read it, which was tough for me because it made it difficult to read. If you struggle with comprehending data in tables and graphs then I would advise that this isn't the book for you. Conversely, within the rubble, there were some gems of information which was formatted perfectly for my comprehension.

A few things I learnt

Everything in marketing isn't as it seems.
For example, loyalty programs aren't actually very effective at driving growth.

Differentiation is key. A person should recognise that a certain brand stands out through the product or service they provide. Then whenever they are exposed to some marketing from the brand, they may recognise it as something they desire/need:
eg.
This brand has my size. This brand fits my style.
They do a lot of great warm winter clothes.
I will shop there for all my winter clothes.
In essence companies within the same industry are all the same. They provide the same thing, so it how you differentiate and what you mean to customers that is important.

Your brand should be distinctive

Colours - Such as Coca-cola and Vodafone distinctive red
Logos - Such as McDonalds golden arches
Taglines - Nike 'Just do it!'
Symbols and characters - Pixar desk lamp or Disney Mickey Mouse
Celebrities - Think Adidas recent advert with all the stars in it. Here it is
Advertising styles - John Lewis famous for Christmas. Or MasterCard 'priceless' campaign.

*** What makes your brand distinctive?***

Uniqueness
Prevalence or relatability

Advertising is massive

Recipe for effective advertising:

Reach all the category buyers
Get noticed, not screened out by consumers
Inherit one or a few of the distinctive brand elements listed above
Refresh and rebuild memory structures to make a brand come to mind easily. For eg remind consumers that you're a great warm winter clothing brand with clothes fitting your style and size.
If you have a piece of information that is genuinely persuasive then don't be afraid to use it. Eg. Better for the environment than your competitor.

Seven Simple Rules for Marketing

Continuously reach all buyers of the brand's service/product category with both physical distribution and marketing communication.
Ensure the brand is easy to buy.
Get noticed.
Refresh and build brand-linked memory structures to strengthen the bond between consumers need and your brand.
Create distinctive communication assets.
Be consistent with your brand image, yet fresh and imaginative
Stay competitive, keep up the mass appeal; don't give customers reasons to not buy the brand!

Have a great weekend!