Adam Morgan is the founder of eatbigfish, a consultancy specialising in challenger brand behaviour and strategy. He also wrote Eating the Big Fish: How challenger brands can compete against brand leaders.
Squeezed by new competition, a retreating consumer and aggressive retailing practices, marketers of a second or third ranked brand are struggling to survive in a business environment where they have fewer resources than ever before. It’s no longer okay to watch and copy the brand leaders, challenger brands need to ensure they follow their own set of marketing rules if they are to remain a competitor.
Adam Morgan sets out to define those rules in his book.
What can we learn from Adam Morgan?
1. Break with your immediate past and be more innovative
2. Build a lighthouse identity and project it intensely so you get noticed
3. Assume thought leadership of the category and one everyone talks about
4. Create symbols of reevaluation and capture your consumer’s imagination
5. Sacrifice by choosing wisely what you do
6. Overcommit and reframe your thinking
7. Use advertising and publicity as a high leverage asset and change your communication process
8. Become idea-centered, not consumer-centered
Adam Morgan's book available here: www.booko.com.au