Byron Sharp

How Brands Grow

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How Brands Grow explains and demonstrates how marketing cannot continue to be based on outdated ideas that no longer resonate in the real world. After decades of research and analysis of consumer buying behaviour, Sharp and his colleagues present a series of laws that determine how a brand actually grows, thereby enabling us to put marketing strategies in place which are longer random, relying on good luck, but which take into account purchasing patterns that repeat themselves and that can therefore be considered predictable.

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Analysis and key concepts

01.

Stop basing marketing on false beliefs and start to think of it as a science

02.

Resize the concept of customer loyalty

03.

Increasing your client base instead of just concentrating on existing clients

04.

Occasional clients are an important market segment

05.

Debunking the customer segmentation myth and trying to sell to everyone

06.

The important thing is not to differentiate yourself from other brands but to be able to stand out in the crowd

07.

The real role of advertising: reminding people that we exist

08.

Promotional offers are not a profitable long-term strategy

09.

Physical and mental availability: We sell more when we make our product more available

10.

Quotes

11.

Take-home message

01. Stop basing marketing on false beliefs and start to think of it as a science

Most marketers base their strategies on accepted ideas, for which there is no real evidence to demonstrate their efficacy.

Even though it might seem strange to put marketing in with the sciences, we do need to apply serious thought to all those false beliefs circulating among the brand marketing insiders and replace them with real information about what actually works.

In the same way that an architect is an artist but cannot work without knowing the laws of physics to ensure that his designs “stay up”, so must a marketer recognise the scientific nature of his work. Simply put, a marketer cannot afford to apply random strategies without knowing what return he will have on them. On the contrary, he must first of all be aware that marketing, like any other science, is based on repeating patterns. By virtue of this fact, the results of the strategies that marketers choose to implement, can and must be predictable.

02. Resize the concept of customer loyalty

03. Increasing your client base instead of just concentrating on existing clients

04. Occasional clients are an important market segment

05. Debunking the customer segmentation myth and trying to sell to everyone

06. The important thing is not to differentiate yourself from other brands but to be able to stand out in the crowd

07. The real role of advertising: reminding people that we exist

08. Promotional offers are not a profitable long-term strategy

09. Physical and mental availability: We sell more when we make our product more available

10. Quotes

11. Take-home message

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Many useful tips to:

Offer a new perspective on how to sell and communicate with clients.
Learn to think of marketing as a scientific discipline.
Implement effective strategies that can grow your brand.

The author

Byron Sharp is a Marketing Science professor at the University of South Australia and the director of the Ehrenberg-Bass Institute, a research institute used and financed by multinational companies such as Coca-Cola, Kraft and Kellog’s. Sharp has more than one hundred academic publications under his belt; he wrote How Brands Grow with John Dawes, Jenni Romaniuk and John Scriven, who are all researchers at the Ehrenberg-Bass Institute.

Edition

Publishing house:

Oxford University Press

Year:

2010

Pages:

228

ISBN:

978-0195573565