For this podcast, Niraj Dawar, author of Tilt: Shifting Your Strategy from Products to Customers, speaks at the Thinkers50 2015 event about brands. Where do markets exist and where do brands compete? Do brands compete on the shelf, online, or in the consumer’s mind?
Dawar considers brands to not exist in the physical world; they exist solely in the mind of the consumer. By categorising these brands, we can learn more about how they are represented in consumers’ minds. This can lead to implications in consumer behaviour and to strategy.
Listen to the podcast below:
In this podcast:
- “What does it mean for a brand to compete inside the minds of customers?”
- If everyone forgot the brand Coca-Cola, would Coca-Cola be able to acquire funding if all of their physical assets burned down?
- Differentiation and Distinctiveness
- Map the markets in the consumer’s mind into 4 quadrants