Brand Relevance: Making Competitors Irrelevant - always yours

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CHANGING THE RETAIL LANDSCAPE 77 Best Buy Best Buy has a heritage as a small, regional retail chain called Sound of Music that begin in 1966 in Minnesota. However, it was in 1983 that Best Buy opened its fi rst superstore and began its rise to becoming a national player. By 2010 the fi rm, still headquartered in Minnesota, had well over one thousand stores, was estimated to have around 20 percent of the U.S. market for consumer electronics retailing, and had a fi rm toehold in China and Europe. Along the way a major competitor, Circuit City, fell by the wayside. Best Buy had <strong>always</strong> offered the value that comes from the scale of being a big - box retailer with warehouse distribution. However, it also <strong>always</strong> had a feel for customers as well and strove to reduce customers ’ stress and frustration in dealing with relatively complex decisions and products. A policy adopted in 1989 to eliminate sales commissions supported a very different customer relationship than was the norm in similar stores. The salesperson became an adviser, and the customer felt a reduced pressure to buy and to remain attached to someone who may not have been a good match — a gutsy move because suppliers could have rebelled. They were used to having the commission structure as a lever to target merchandise that they wanted to move, whether because of a high profi t margin or obsolete design. The commission structure was an important part of their marketing. Best Buy did end up retaining suppliers and fundamentally changed the buying experience. Years later, in 2005, Best Buy eliminated mail - in rebates, another change that ultimately made the customer ’ s life easier but again disrupted the promotions of suppliers. After 2000 the aftermath of the high - tech - bubble meltdown, together with the 9/11 incident, made the market environment diffi cult. Further, Walmart and Amazon as well as Costco and Dell had emerged as huge threats because they all were entering the consumer electronics space with substantial
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“ What always amazes me about Dav
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Brand Relevance
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Copyright © 2011 by John Wiley & S
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Contents Preface xiii 1. Winning th
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CONTENTS xi Does the Offering Have
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Preface During the last ten years,
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PREFACE xv There are dozens of othe
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You do not merely want to be consid
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2 BRAND RELEVANCE whereas the other
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4 BRAND RELEVANCE and being the num
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6 BRAND RELEVANCE Figure 1.2 The As
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8 BRAND RELEVANCE new tools, a new
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10 BRAND RELEVANCE The fi rst and m
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12 BRAND RELEVANCE There are a host
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14 BRAND RELEVANCE Figure 1.3 Brand
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16 BRAND RELEVANCE differentiation,
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18 BRAND RELEVANCE the competitor
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20 BRAND RELEVANCE the one UPS has
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22 BRAND RELEVANCE to some other st
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24 BRAND RELEVANCE A major risk is
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26 BRAND RELEVANCE The New Brand Ch
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28 BRAND RELEVANCE In the case of a
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30 BRAND RELEVANCE the brand role m
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32 BRAND RELEVANCE innovation. Or t
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34 BRAND RELEVANCE into a sustainab
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36 BRAND RELEVANCE newness (defi ne
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38 BRAND RELEVANCE A highly differe
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40 BRAND RELEVANCE champions of the
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42 BRAND RELEVANCE These works and
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44 BRAND RELEVANCE and transformati
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2 UNDERSTANDING BRAND RELEVANCE Cat
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UNDERSTANDING BRAND RELEVANCE 49 ch
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Page 178: 70 BRAND RELEVANCE Retailers have s
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Page 234: 98 BRAND RELEVANCE minivan, GM ’
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102 BRAND RELEVANCE these cars woul
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104 BRAND RELEVANCE Figure 4.1 The
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106 BRAND RELEVANCE and substantial
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108 BRAND RELEVANCE Competitors wer
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110 BRAND RELEVANCE The Chrysler Mi
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112 BRAND RELEVANCE introduction, C
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114 BRAND RELEVANCE 1997 that was v
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116 BRAND RELEVANCE model, it was t
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118 BRAND RELEVANCE models. It was
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120 BRAND RELEVANCE advantage. Even
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122 BRAND RELEVANCE as 1989, when E
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124 BRAND RELEVANCE Key Takeaways
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126 BRAND RELEVANCE “ aha! ” ex
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128 BRAND RELEVANCE In addition to
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130 BRAND RELEVANCE the resulting t
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132 BRAND RELEVANCE In 1977 another
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134 BRAND RELEVANCE Nabisco Cookies
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136 BRAND RELEVANCE Oreo Thin Crisp
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138 BRAND RELEVANCE The decision to
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140 BRAND RELEVANCE 150 studies to
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142 BRAND RELEVANCE only a partial
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144 BRAND RELEVANCE dominated in te
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146 BRAND RELEVANCE designed for an
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148 BRAND RELEVANCE its various for
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150 BRAND RELEVANCE fi nally, in mi
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152 BRAND RELEVANCE Figure 5.2 Heal
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154 BRAND RELEVANCE and subcategori
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6 FINDING NEW CONCEPTS The best way
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FINDING NEW CONCEPTS 159 only linke
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FINDING NEW CONCEPTS 161 for produc
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FINDING NEW CONCEPTS 163 Where did
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Concept Generation FINDING NEW CONC
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FINDING NEW CONCEPTS 167 context an
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FINDING NEW CONCEPTS 169 What can a
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FINDING NEW CONCEPTS 171 do so. The
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FINDING NEW CONCEPTS 173 equipment
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FINDING NEW CONCEPTS 175 • Prophe
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FINDING NEW CONCEPTS 177 Observatio
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FINDING NEW CONCEPTS 179 LEGO const
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FINDING NEW CONCEPTS 181 hidden and
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FINDING NEW CONCEPTS 183 External s
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FINDING NEW CONCEPTS 185 organizati
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FINDING NEW CONCEPTS 187 did not re
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FINDING NEW CONCEPTS 189 the produc
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FINDING NEW CONCEPTS 191 course is
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FINDING NEW CONCEPTS 193 The challe
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Key Takeaways FINDING NEW CONCEPTS
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198 BRAND RELEVANCE The prospects o
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200 BRAND RELEVANCE leaning. It exp
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202 BRAND RELEVANCE Figure 7.1 Thre
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204 BRAND RELEVANCE had a smaller p
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206 BRAND RELEVANCE particularly ri
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208 BRAND RELEVANCE boring. Perhaps
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210 BRAND RELEVANCE can change the
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212 BRAND RELEVANCE Furthermore, mo
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214 BRAND RELEVANCE actually purcha
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216 BRAND RELEVANCE initiative. An
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218 BRAND RELEVANCE Home Depot, fou
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220 BRAND RELEVANCE to happen. The
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222 BRAND RELEVANCE focus on how to
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224 BRAND RELEVANCE Recall how info
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8 DEFINING AND MANAGING THE CATEGOR
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DEFINING AND MANAGING THE CATEGORY
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270 BRAND RELEVANCE computers. Tech
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272 BRAND RELEVANCE his help in bri
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274 BRAND RELEVANCE heritage, its p
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276 BRAND RELEVANCE Figure 9.2 Crea
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278 BRAND RELEVANCE Delivering an o
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280 BRAND RELEVANCE Brand Equity Br
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282 BRAND RELEVANCE always been an
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284 BRAND RELEVANCE resent a brand
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286 BRAND RELEVANCE Maine, Sam Adam
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288 BRAND RELEVANCE Branded Feature
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290 BRAND RELEVANCE a branded servi
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292 BRAND RELEVANCE Involving the C
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294 BRAND RELEVANCE Link the Brand
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296 BRAND RELEVANCE brand; energizi
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298 BRAND RELEVANCE a strong market
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300 BRAND RELEVANCE not only favore
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302 BRAND RELEVANCE This chapter wi
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304 BRAND RELEVANCE lingering memor
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306 BRAND RELEVANCE The stick - to
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308 BRAND RELEVANCE introducing Chi
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310 BRAND RELEVANCE investment is r
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312 BRAND RELEVANCE handicap becaus
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314 BRAND RELEVANCE diffi cult to a
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316 BRAND RELEVANCE externally sour
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318 BRAND RELEVANCE Branded Social
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320 BRAND RELEVANCE Beware of makin
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322 BRAND RELEVANCE their Genesis s
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324 BRAND RELEVANCE the Year award
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11 THE INNOVATIVE ORGANIZATION In m
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THE INNOVATIVE ORGANIZATION 329 emp
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THE INNOVATIVE ORGANIZATION 331 Fig
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THE INNOVATIVE ORGANIZATION 333 Fig
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Entrepreneurial Culture THE INNOVAT
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THE INNOVATIVE ORGANIZATION 337 als
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THE INNOVATIVE ORGANIZATION 339 the
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THE INNOVATIVE ORGANIZATION 341 pro
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THE INNOVATIVE ORGANIZATION 343 sub
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THE INNOVATIVE ORGANIZATION 345 org
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THE INNOVATIVE ORGANIZATION 347 com
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THE INNOVATIVE ORGANIZATION 349 exi
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THE INNOVATIVE ORGANIZATION 351 imp
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THE INNOVATIVE ORGANIZATION 353 3.
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356 EPILOGUE It is true that avoidi
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Notes Chapter One 1. From a talk gi
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NOTES 361 Across - Category Conside
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NOTES 363 3. “ Lexus 400, ” Toy
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NOTES 365 5. Tom Kelly, The Art of
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NOTES 367 18. Andrew S. Grove, Keyn
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NOTES 369 8. Pallavi Gogoi and Mich
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INDEX A A.1. steak sauce, 28 Aaker,
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INDEX 373 Chux, 32-33 Circuit City,
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INDEX 375 work” concept, 330; Ima
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INDEX 377 Magee, D., 327, 329 Marig
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INDEX 379 Rakuten, 70-71 Ralph Laur
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INDEX 381 offerings, 124, 155; over
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