Tag: branding
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Building a Brand In a Recession
The recent recession saw sales of condoms, guns and burglar alarms soar. This is because, when fear enters our mind in terms of losing our job or of not being able to pay bills, we focus on two of our most basic drives: fear and sex. The key to selling and building a brand during…
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Narratives for Selling Premium Goods: The Grey Goose Story
People want to pay more in order to own luxury goods, but you need to give them a reason to do so. That excuse? A compelling story. One man that subscribed to this idea was Sydney Frank, as is evident from the strategy he developed for Grey Goose: ļ»æthe ‘superpremium’ vodka thatĀ Barcardi bought for $2…
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Facebookās āLikeā and Conspicuous Consumption
Wondering why we freely and often make our tastes public (specifically, our brand preferences through Facebook’s ‘Like’ mechanism), Nicolas Baumard discusses how we purchase goods to display our good taste: In a way, Facebook can be seen as a handy device to send a lot of very precise signals about your opinion and your values!…
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The Transformative Power of a Narrative
Can a narrative attached to an everyday object increase its objective value? That was the question posed by Rob Walker (author of The New York Times‘Ā Consumed column) and Joshua Glenn (author of Taking Things Seriously) when they started the Significant Objects Projectāan experiment designed to test whether a series of stories created about an object…
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Apple’s Strategy of Rejecting ‘Social Media’
Apple’s ‘rejection’ of the practices pundits “always say you should do to succeed in the Internet economy” isn’t unique, but it does make for interesting reading: Apple doesn’t blog; it doesn’t Tweet; it does little on Facebook; it doesn’t engage with its customer base. It doesn’t ask the “community” for feedback or rapidly iterate based…
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(Preventing) Manipulation Through Irrationality
Through the theories discussed in Dan Ariely’s Predictably Irrational (and largely based on the excerpts in Chris Yeh’s outline of the book), two articles have emerged on different sides of one topic: our irrational decision-making in terms of products and purchases. One on how to take advantage of our irrationality when marketing products, and another…
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Influencing Behaviour Online
Ignoring, for a moment, the rather unsound and outmoded neuroscience propounded in the introduction, these tips for extending influence online and persuading your visitors are worth a few minutes: Show ratings and reviews by other users (for action through social validation). Provide instant gratification and a quick fix. Put the most important action to be…
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Scarcity Marketing
Neuromarketing has recently been looking at The Scarcity Effect: WORCHEL, LEE, AND ADEWOLE (1975) asked people to rate chocolate chip cookies. They put 10 cookies in one jar and two of the same cookies in another jar. The cookies from the two-cookie jar received higher ratingsāeven though the cookies were exactly the same! Not only…
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Kodak and Brand Naming
While reading about the history of the Eastman Kodak Company (more commonly known just as Kodak) I came across this titbit about the Kodak name which seemed like sound advice for naming a product or brand: The letter “K” had been a favorite of Eastman’s, he is quoted as saying, “it seems a strong, incisive…