challenger brands - strategies to make market leaders sweat
DESCRIPTION
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.TRANSCRIPT
CHALLENGERBRANDS.
CHALLENGER BRANDS
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
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
CHALLENGER BRANDS
EXERCISE
CHALLENGER BRANDS
CHALLENGERBRAND 1 2 3 4 5 6 7 8
THE 8 CREDOS
• Intelligent naivety
CHALLENGER BRANDS
CHALLENGER BRANDS
“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
THE 8 CREDOS
• Intelligent naivety• Building a “lighthouse identity”
CHALLENGER BRANDS
CHALLENGER BRANDS
THE 8 CREDOS
• Intelligent naivety• Building a “lighthouse identity”• Become the thought leader
CHALLENGER BRANDS
CHALLENGER BRANDS
http://www.youtube.com/watch?v=czLTt2gtgfw
THE 8 CREDOS
• Intelligent naivety• Building a “lighthouse identity”• Become the thought leader• Create a symbol of re-evaluation
CHALLENGER BRANDS
CHALLENGER BRANDS
THE 8 CREDOS
• Intelligent naivety• Building a “lighthouse identity”• Become the thought leader• Create a symbol of re-evaluation• Sacrifice
CHALLENGER BRANDS
CHALLENGER BRANDS
“If you’re not pissing off at least 50 percent of the people, you are not trying hard enough” – Yvon Chouinard, CEO of Patagonia
THE 8 CREDOS
• Intelligent naivety• Building a “lighthouse identity”• Become the thought leader• Create a symbol of re-evaluation• Sacrifice• Overcommit
CHALLENGER BRANDS
CHALLENGER BRANDS
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
CHALLENGER BRANDS
http://www.youtube.com/watch?v=JR_naKxLEPc
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
CHALLENGER BRANDS
THE 8 CREDOS
Intelligent naivetyBuilding a “lighthouse identity”Become the thought leaderCreate a symbol of re-evaluationSacrificeOvercommitEnter popular cultureBe ideas-centred
CHALLENGER BRANDS
WHAT DOES THIS MEAN FOR SUITS?
These strategies of Challenger Brands can be applied to any brand with challenges
CHALLENGER BRANDS
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