Blog authors: Derrick Daye and Brad VanAuken
The title of this external blog that I read is Building A Brand Advantage In Uncertain Times. By posing the question in the first sentence, it engages the reader. Then, the authors state the issue before the analysis and the recommendation, which is the format of solving a case.
Firms screw up on forecasting and there’re a few reasons. First, firms don’t know what their competitors are doing; second, they usually overestimate the projected figures; third, they don’t know the consumer demand and preference. There’s always variability in the market; therefore, no one can give the correct information. However, projection is required for the direction of a company.
After reading this blog, I learn how important it is for a brand to consider consumers’ minds. By considering, it doesn’t mean that the firms will know what exactly their customers think, but they do need to concern about their consumers. The authors also recommend that in order to be a successful brand, it’s necessary to be tangible. Yet, this blog can improve by giving actual examples of successful brands such as Apple, Nike or Lululemon. Additionally, recommendation can be developed more because to be “tangible” is too blurred.
What all successful brands know
