When customers evaluate a product or service, they weigh its perceived value against the asking price. Marketers have generally focused much of their time and energy on managing the price side of that equation, since raising prices can immediately boost profits. But that’s the easy part: Pricing usually consists of managing a relatively small set of numbers, and pricing analytics and tactics are highly evolved. What consumers truly value, however, can be difficult to pin down and psychologically complicated. It's complicated.
The truth about your business — what works, what doesn’t, and what needs to change — is usually not found by looking inside your organization. It lives somewhere outside, with your customers. Customers trust companies that they feel understand them. They respect companies that they believe respect them in return. And the results of that reciprocity are evident in the Harvard Business Review’s customer quotient study here. Find out what it means to me.
Next week, if all goes well, someone will win the presidency. What happens after that is anyone’s guess. Will the losing side believe the results? Will we all be able to clean up the piles of lies, hoaxes and other dung that have been hurled so freely in this hyper-charged, fact-free election? Much of that remains unclear, because the internet is distorting our collective grasp on the truth. You can't handle the truth.
Yesterday, Apple held its “Hello Again” press event at their Cupertino headquarters. It was overrun with terrible jokes and painstakingly long demos. And although the MacBook Pro is a nice innovation bump over its predecessor, it’s hard to believe Apple really needed an hour to talk about its Touch Bar and Touch ID. Even Apple’s attempts at begging customers to buy the MacBook Pro instead of the MacBook Air were embarrassing. The snoozefests can't continue.
These days, thanks to the modern promise of microwave success, designers, singers, performers and almost anyone with an “idea” can feel entitled to strike gold in an instant without the burden of any hard-earned knowledge, formal training or any real dues paid. The same is true of this new generation of “instabrands” that seem to pop up every day. Make me instafamous.
While some blame our collective tech addiction on personal failings, like weak willpower, Tristan Harris, a product philosopher, points a finger at the software itself. That itch to glance at our phone is a natural reaction to apps and websites engineered to get us scrolling as frequently as possible. The attention economy, which showers profits on companies that seize our focus, has kicked off what Harris calls a “race to the bottom of the brain stem.” All part of the plan.
Brands are increasingly addressing the issue of gender stereotypes. In June, Unilever launched #Unstereotype, an initiative that aims to level the playing field in terms of how gender is portrayed in advertising. Unilever's past efforts in that regard include the long-running Dove "Real Beauty" campaign and Axe's "Find Your Magic" campaign. Adweek caught up with Aline Santos, svp of global marketing for Unilever, to talk about how Unilever is putting its plans into action. Blurred lines.
Emojis - you see them everywhere. Every social network supports them as do messaging apps. And it's not just about happy, sad, angry, (insert expression) faces any longer. In June of this year, the Unicode Consortium accepted 72 new emojis, including an avocado and clinking glasses. What's more, there are several good reasons to use emojis in marketing, particularly if your goal is to curry favor from millennials. Don’t worry, be happyface.
The days of just selling stuff are long gone. Today, in the race for consumers, marketers need to create entire, cohesive ecosystems in order to provide the most value. In Interbrand’s 2016 Best Global Brands report, Apple snagged one of the top spots, the brand value rising 5% to $178.1 million this year. A big part of what makes brands like Apple valuable is their cohesiveness as a connected business system. Apple communicates with its customers through its hardware, software, and retail stores to deliver one of the best consistent narratives. Apple stays on top.
People in the marketing-to-mothers profession refer to mothers as chief financial officers of their households. The phrase suggests a comfortably solvent enterprise—prudent about money, but able to command it as needed. The reality of mothers and money is more complicated and less cheery, as explored in this new eMarketer report. The boss of bosses.