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How Brands Grow MP3 CD – Unabridged, April 5, 2016
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About the Author
Byron Sharp is Professor of Marketing Science at the University of South Australia, known for his work on loyalty programs.
- Publisher : Audible Studios on Brilliance Audio; Unabridged edition (April 5, 2016)
- Language : English
- ISBN-10 : 1511383933
- ISBN-13 : 978-1511383936
- Item Weight : 3.5 ounces
- Dimensions : 6.75 x 5.5 x 0.5 inches
- Best Sellers Rank: #521,818 in Books (See Top 100 in Books)
- Customer Reviews:
Top reviews from the United States
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Moving on beyond why I didn't read the book early on. I think this book is absolutely fantastic read. It is written in a matter of fact way, with data points for every argument it makes. It was recommended by Dr. Fader (Wharton School) , after I asked him a certain question, and I had to change my mind and actually read it. He was spot on. Lot of the findings in the book are very close to what I have seen in practical data. If you are in midst of digital advertising revolution and working on a relatively smaller brand this book will clear your head on some misconceptions or lets say popular notions of brand building and may give you new ideas on how to go about it. I rather not summarize the book in my review, but I think the book gives the reader different ideas on the few questions such as retention vs acquisition, understanding the relation ship of cross selling to customer base, how much to sweat on retention and defection, focusing and trying to acquire a certain customer segment relative to brand size.
In short, I would say whether you agree with the book or not, it is a must read.
A must read for any marketer and market researchHow brands grow is a fantastic read on an objective view of what drives growth. I have seen several examples of evidence based marketing and growth, out of following the guidance provided.
A must read for any marketer and market researcher.
- Convincingly answers the most important questions re: Brands, Marketing, and Brand Growth/Death
- A little repetitive, but that's a small price to pay for actionable info.
Top reviews from other countries
The author worked only in Australia and New Zealand. Also he only worked as a marketer for 2 years at a tech recruitment company which failed. So with all the hype around the book, I was already skeptical.
This is regurgitated information from the past that worked in a different world but no long works to build a brand and create long-term incremental sales, only short-term sales that will need your investment over and over with no long term benefits a true brand will give you.
If it was called how sales grow, it would make more sense but has little to do with what actually works in creating iconic brands.
You get the feeling that Sharp really enjoys challenging every single marketing assumption we all have; from the taken as given need to differentiate your brand to the fact that a brand’s consumers are a distinctive type of person, in fact, even the pareto law gets a kicking, gone are the assurances that 80% of sales come from the top 20% of your buyers – according to Byron only slightly more than half of sales come from the top 20% of the brand’s customers, the rest come from the bottom 80% .
It’s true to say that by and large this book is somewhat of a manifesto for what he calls his new world model:
Past World Model Positioning Differentiation Message Comprehension Unique Selling
Proposition Persuasion Teaching Rational Involved
New World Model Salience Distinctiveness Getting noticed,emotional response Relevant Associations Refreshing and
building memory structures Reaching Emotional
And this new world model rests on a very simple premise that ALL brands grow by increasing their market penetration, forget about loyalty and/or anything else. He proves this hypothesis through what he calls the Double Jeopardy Law. Sharp argues that the Double jeopardy law tells us what our marketing metrics will look like – if we are successful in gaining sales and market share.
Here’s an example:
Shampoo Brands Market Share (%) Annual market Penetration (%) Purchase Frequency (average)
Suave Naturals 12 19 2.0
Pantene Pro V 10 16 1.9
Alberto VO5 6 11 1.6
Garnier Fructis 5 9 1.7
Dove 4 8 1.4
Finesse 1 2 1.4
Note: Smaller US shampoo brands suffer from only slightly lower loyalty.
If Finesse were to catapult up to the sales levels of Suave Naturals or Pantene Pro V, it would be substantially more popular with millions more households buying it each year. But these households would not, on average buy it much more often than current Finesse households buy the brand.
Finesse’s brand manager could plan to reach market leadership by getting current customers to buy eight times a year. That would be enough to do it – in theory. But in practice it’s impossible. As Sharp goes on to point out Finesse buying households currently only buy shampoo six times a year; therefore Finesse would need to command 100% loyalty just to achieve six purchases per year per customer. But no shampoo brand in the US commands 100% loyalty. Such a marketing plan is a fantasy.
Double jeopardy, therefore, tells us what is, and what isn’t achievable – sort of a practical guide to strategy formulation.
Make your brand famous,make your brand popular.
The book continually delivers a strong case for mass marketing, as attested above, Sharp continually hammers home that growth in market share comes by increasing your brand popularity or fame. You do this by gaining many more buyers (of all types), most of whom are light consumers buying the brand occasionally. This allows Sharp to controversially define brands as “undifferentiated choice options of varying popularity.”
It’s an easy read, a lot of it planners probably already know as it’s based on the work of Andrew Ehrenberg who in 2003 proved, albeit with shorter term dynamic analysis, that both rising and declining brands displayed more change in their penetration than in their purchase frequency. Sharp adds a level of metric data to the debate which makes Ehrenberg’s theories easier to substantiate. This argument also fits well with the more recent IPA analysis by Binet & Field in 2007 which showed that effectiveness award winners were far more likely to have set targets to increase market penetration.