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Eating the Big Fish: How Challenger Brands Can Compete Against Brand Leaders Hardcover – February 17, 2009
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1. Break with the immediate past
2. Build a lighthouse entity
3. Assume thought leadership of the category
4. Create symbols of reevaluation
7. Use advertising and publicity as a high-leverage asset
8. Become ideas-centered rather than consumer-centered
He discusses each in detail in Part II.
Morgan's primary objective is to provide what he calls a "magnetic compass" for Small Fish which will enable them to compete successfully. Obviously, they face problems: certain markets have moved for the first time from maturity to overcapacity; as a result, there is not enough "food" to go around; and while turning their attention downward, the Big Fish have also turned outward...toward Small Fish; as the Big Fish moved downward, retailers moved upward. Time and again, he stresses the importance of ideas...actually, better ideas. Hence the imperative to break with the past: assume nothing, take no one and nothing for granted, constantly ask "What if?" and "Why not?" For Small Fish, the status quo is death. Period. Better ideas are engaging, provocative, and self-propagating. They help to create competitive advantages.
Think in terms of an ambush: A Challenger brand can attack whenever and wherever least expected. A Challenger brand redefines terms such as "enemy", "opponent", "competition", etc. A Challenger brand has attitude. It thrives when underestimated. Better yet, when ignored. Big Fish know they are Big Fish. They have a tendency to become arrogant, complacent, hence vulnerable.Read more ›
Great exercises to get you thinking, no matter if your brand is a leader or an also ran. e.g."Grove" named for Andy Grove- "Fire ourselves- leave the building and come back in as an entirely new team. What's one thing you would stop doing and one thing you would do instead?" Morgan punches holes in conventional wisdom- mission statements, focus groups, etc. A favorite quote: "The key failure, then, for any company attempting to effect a gear change in its own performance is not the ability to define its intention, but the inability to translate intention into behavior."
In that way a very interesting approach to marketing. That aside the insights presented here are brilliant and relevant. Also Morgan writes in a very enjoyable and lively style, which definitely makes the understanding and digestion easier.
All in all an entertaining book about a field that should interest everybody involved in managing or marketing a business. Not bad at all!
Most Recent Customer Reviews
Great book! Looking forward to it helping me in my career.Published 3 months ago by Amazon Customer
The guy indeed knows his stuff. I think it should be required reading for any business student. It makes too much sense.Published 9 months ago by T. Dan Nichols
the best resource on challenger brands...great reminders for those who think they don't need this book/audio version.Published 21 months ago by fhcgsps
Cracking book. Lots of great ideas and insights. Every business manager should read!!Published 21 months ago by scott
One of the top five business marketing books of the past decade, Challenger Brands lays out an action plan for any business that is struggling to compete against the Goliaths.Published on January 10, 2013 by Michael E. Zimmerman
I know there are some good strategic ideas here but I was incredibly put off by the misinformation right up front about people's media habits and media consumption patterns across... Read morePublished on September 21, 2012 by Amazon Customer
This is a great book for anyone in the branding, marketing or advertising industries to learn to think a little differently about branding. Read morePublished on August 10, 2012 by sparklehorse