Book Review: “The Consumer Mind” by Pepe Martinez

“Products are made in the factory, but brands are created in the mind”consumer_mind_lg

The quote above by Walter Landor best summarizes what  “The Consumer Mind” is about: building strong brands that become part of our daily rituals by implementing the latest advances in neuromarketing.

The book published by Kogan Page  uses a blend of theory and real world examples to illustrate how the latest developments in neuroscience could benefit the work of marketing practitioners worldwide.

Pepe Martinez is the Managing Director of Millward Brown Iberia, a global research agency specialized in advertising, marketing communication and brand equity research.

He holds a degree in Psychology from the Complutense University, Madrid (UCM) and has been working in marketing research for nearly 30 years.

As a marketer who advocates for meaningful brand positioning and differentiation, I’am always interested to learn more about how the human mind works. The emotional connection the brand establishes with its users is crucial in the decision making process and key to generating customer loyalty.

This 200 page book is based on over 2 million interviews in 30 countries. The extensive research confirms that brands are built on credibility and effective communication.

The Consumer Mind-Neuromarketing

According to the author:

“Brand have to be coherent and genuine to be credible. There has to be a relationship between what they think (their values), the emotions they convey and create (what they feel), what they say (their communications) and the actions they carry out (what they do).

A brand’s credibility is essential to attracting customers and earning their loyalty.”

When it comes to slogan development, research show that:

“When creating an advertising slogan or choosing a good claim for the brand, two important aspects must be taken into account: it should be a short, impressive and sonorous (catchy) phrase-this way it will be easy to remember and reproduce (Nike: “Just Do It”); and it should be relevant to consumers, ie it connects with their needs, emotions, desires and expectations (Nokia:”Connecting people)”"

 The Consumer Mind-Succesful Brands

Chapter 14 “Brands, Communications and the Mind” was of particular interest to me, as it presents the recipe for strong brands:

Connecting with consumer’s minds

Looking after the product to the greatest extent possible

Communicating well

Protecting the brand

The key to successful brand building is uncovering your target audience expressed and implied needs and wants, and understanding how the decision making process as it relates to your category.

A communication message that combines rational and emotional benefits is works best to communicate the brand benefit.
The Consumer Mind-Brands, Communications and Emotions

Who is this book for? Brand managers and marketers involved in brand building initiatives. Communication professionals who want to improve the effectiveness of their marketing campaigns. And those passionate about how human mind works.

Book Review: “Co-opetition” by Adam Brandenburger and Barry J. Nalebuff

Co-Opetition-a revolutionary mindset that combines competition and cooperation

I rarely come across a book that changes my current business philosophy.  The book I am reviewing today did just that: it changed the way I think about strategy, competition, suppliers, and customers.

Co-opetition” is not your typical strategy book. It’s actually so unique that a new word had to be invented to summarize its core concept: co-opetition.

Co-opetion” is a combination of competition and cooperation, a duality that helps a business grow and prosper.

We tend to look at our competitors as our enemies. We can only grow at the expense of a competitor. In order for our brand to win, a competitor has to loose.

The marketplace is a war, and only the fittest survive.

This book will challenge the way you view competition by introducing a new concept: co-opetition. That is, seeing the role of competition also as a partner in creating value, a bigger pie. A bigger market increases your brand’s profits, even at the same market share.er slice.

Co-opetition

“Business is cooperation when it comes to creating a pie and competition when it comes to dividing it up.”

Think about it. It’s hard to steal market share from your competitors in particular in matured economies. Why not work with them to grow the market and benefit for a bigger slice of the pie.

The same concept can be applied in the relationship with your suppliers and customers.

“You have to listen to your customers, work with suppliers, create teams, establish strategic partnerships-even with competitors. Besides, there are a few victors when business is conducted as war. The typical result of a price war is surrendered profits all around.”

The book introduces another concept: the complementor. According to the authors,

“The complementor is the opposite of a competitor. It’s someone who makes your products and services more, rather then less, valuable…Hardware needs software, and the internet needs high-speed phone lines.”

A lot of real world examples are used to illustrate how complementors can work together for the common good: Microsoft and Intel, car manufactures and auto insurance, Compaq and ProShare.

This revolutionary strategic approach to running a business is based on the game theory.

Game Theory

Game theory was first formulated by John von Neumann and economist Oskar Morgenstern in their book “Theory of Games and Economic Behaviour”, published in 1944. In recent days this theory came to revolutionize the game of doing business.

“Contemporary game theory applies just as well to positive-sum-or win-win-games. The real value of game theory for business comes when the full theory is put into practice: when game theory is applied to the interplay between competition and cooperation.”

The books goes on and describes the components of the game theory strategy as it applies to the business world: players, added values, rules, tactics and scope (PARTS).

It also looks at a company value net, a diagram that identifies all its players and the interconnection between them: customers, competitors, suppliers, and complementors.

The Value Net

I hope this review peaked your interested for this book. “Co-opetition” is beneficial to business owners, senior managers, marketers and others involved in running and growing a business.

A New York Times and Business Week bestseller, it definitively gave my strategic thinking a new perspective, by making me see the “big picture” differently.

Make sure to check the “Best Marketing Books” page for more book recommendations and reviews.

Book Review: “Brand Together” by Nicholas Ind, Clare Fuller and Charles Trevail

Brand Together by Nicholas Ind, Clare Fuller and Charles Trevail

There is a new word that has become part of the Brand Management vocabulary: engagement. Gone are the days of one-way communication, when the consumer was bombarded with advertising messages. Brands that are successful today make the consumer part of the conversation, rather than its intended target.

Companies are working to create a two-way connection with their customers, employees and shareholders.

“Brand Together”, published in 2012 by Kogan Page USA, is a step-by-step manual that shows marketers how to initiate and nurture this connection. The keyword used throughout its pages is “co-creation” between all the parties involved in the brand relationship with the noble purpose of generating inovation and growth.

The book is divided into two parts: “Thinking it” and “Doing it”.

“Thinking it” is about designing the perfect plan to identify and engage the future brand ambassadors.  The ingredients needed for true co-creation are participation, openness, empowering and organizational involvement.

According to the authors “co-creation suggests the interaction of individuals within a framework to evolve, re-define or invent something that is new“.

Once a plan has been crafted, the second part of the book, “Doing it”, illustrates the practical plan to implement a culture of collaboration with the purpose of energizing a brand. It all starts with establishing a connection with people, understand their profound feelings, principles and values and getting the most out of this relationship.

The book makes great use of practical example of brands that have used co-creation to become stronger and more relevant: Starbucks, [yellow tail], Mozilla, Kraft and Danone.

The “Brand together” book itself is a result of co-creation.

In writing the book the authors have gathered content from several sources: published material from a variety of fields such as branding, philosophy, psychology, art and literature, and the input of 20 managers from all over the world. The process was concluded with establishing a co-creation group consisting of 236 individuals who have provided content, ideas and suggestions.

The co-creation strategy is still a new and debatable topic. If you plan to use the input from your customers, employees and shareholders in your brand building process, this book makes for a very good read.

Discover this and other great marketing books by visiting the Books page.

Book Review: “The New Strategic Brand Management” by Jean-Noel Kapferer

The first edition of this book was published in 1992 in France. The edition I had the opportunity to read and review is the 5th edition, published by Kogan Page Limited in 2012.

Jean-Noel Kapferer is a global brand strategist with a Ph.D from Northwestern University and international consulting experience stretching from Europe and North America to Asia.

If i had to use just one word to describe this book I would say it is comprehensive. Other words that would characterize it well are relevant and global.

The book is structured into 4 parts:

Part 1: Why is branding so strategic?
Part 2: The challenges of modern markets
Part 3: Creating and sustaining brand equity
Part 4: Brand valuation

As you can probably judge by its structure, this book is comprehensive because it provides guidance through the entire branding process. And it all starts with an overview of the importance of branding in the overall business strategy. Kapferer provides the modern definition of a brand:

A name that symbolizes a long term engagement, crusade or commitment to s unique set of values, embedded into products, services and behaviours, which makes the organization, person or product stand apart or stand out.”

It’s difficult to highlight a specific chapter in a book as comprehensive as this one. One thing is certain: there is plenty of useful information for Brand Managers in charge of launching, growing, rejuvenating, and taking the brand internationally. No aspect of Brand Management is left untouched: brand identity and positioning, naming, brand extensions and brand valuation, to name a few.

The book brings an interesting perspective on Asian brands, and how they differ from the European and American ones. The author’s assessment is that “despite their success measured in market share and often market dominance, these brands still lack dream power and intrinsic desirability.” I completely agree.

The book is relevant  because it addresses today’s biggest challenges in Brand Management: dealing with low cost competition and the surge in popularity of retail brands. It contains a very detailed guide on how a manufacturer’s brand can respond and emerge successful in this ongoing battle.

The section dedicated to luxury brands is intriguing. In today’s economy dominated by the invasion of low cost competitors, and where the innovation advantage is short lived, it’s hard to believe that one viable growth strategy is to launch a luxury brand. This books proves that it’s possible, and details what is takes to succeed.

Kapferer pioneered the concept of “brand identity” in Europe in 1986. He developed the “brand identity prism”, a model used by Brand Managers to assess the identity of any brand. According to this model a brand’s identity is represented by a hexagonal prism: physique, personality, culture, self-image, reflection and relationship. A very simple and yet comprehensive model with practical applications.

The content is structured in such a way that allows the reader to find the specific information that’s needed at a particular time. The books is not meant to be read as a novel, but rather be used as a reference guide by marketers involved in Brand Management.

You will not agree with everything that’s presented bwtween the covers. That being said I fully understand and respect Kapferer’s opinion on topics that I approach differently, such as growth strategy through brand extensions. That’s the beauty of Marketing: there is no right or wrong, just different avenues for reaching the same goal.

In summary, this book is a very good reference guide in the brand building process. Although not an easy read, it was well worth my time.

Buy this book on Amazon.com