Developing Winning Brand Strategies

Chapter 1

Competing for Choice

Main Themes

• When asked, “What are you competing for?” most managers will answer with “competitive advantage” or “market share.” But neither of these things translates into concrete, actionable measures—things a company can do to improve its performance. The right answer to the question is “customer choice.”
• The opportunities for consumers to make choices between different brands are multiplying rapidly. Yet there are only a finite number of consumers who choose any one brand. These customers thus represent a scarce resource.
• In such an environment, formulating strategy is complex. To get it right, managers must set strategy in the context of competing for consumer and stakeholder choice. Brands play a vital role ...