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The Martech Report 22/23

Martech is more important than ever, and despite a more challenging economic situation in 2022, martech budgets are continuing to grow. The global market for Martech and Salestech is estimated to be worth $508.9bn.

As our latest State of Martech report finds organisations face a number of challenges around marketing technology. The biggest one is finding the skills and talent needed to drive martech initiatives.

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LXA Marketing Leaders Book Club: How Brands Grow

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Byron Sharp's How Brands Grow presents decades of research. In fact, it is the first book to present these laws in context and explore their meaning and application. 

Despite having a new, revised edition, we've gone back to the O.G. Let's just say it like this: Shrek 2 was great, but it'd be nowhere without the original. Either way, we've got to know what happened in the past, before we can understand what's happening now, and in the future. So, the original is sometimes the best. 

how brands grown

In his book, Sharp discusses the three stages of growth for brands. The first stage is the introductory stage, which is when a brand breaks into a market and starts to grow. The second stage is the maturity stage, which is when a brand has established itself as a market leader and has reached its peak in terms of profit and growth. The final stage is the decline or death phase, which occurs after a brand has lost its competitive edge and starts to lose customers.

We can apply these three phases to our own marketing campaigns in order to understand how they work better. This will allow us to avoid common pitfalls that occur in each phase so that we can ensure our campaigns are successful.

Why Influence: The Psychology of Persuasion is Vital for Any Modern Marketer

Brands are constantly evolving, and the modern marketer needs to keep up with these changes. Byron Sharp discusses how brands grow in his book How Brands Grow. He discusses the various stages of growth that a brand can go through, and also provides examples of brands that have gone through these stages.

Brand marketing is the process of creating, building, and maintaining a unique brand. Brand marketing is important because it determines the level of customer loyalty and brand awareness. It is also important because it determines a company's market share. Brand onion is a model that helps marketers understand how a brand grows and changes.

The brand onion has five layers: the visible layer, the name layer, the category layer, the functional layer, and the emotional layer. Market leader is a term that is used to describe a company that has the most market share. Market share is the percentage of the market that a company has. Loyalty is a term that is used to describe a customer's commitment to a brand. Loyalty is important because it determines a customer's willingness to buy from a company again. Apparition is a term that is used to describe a company or product that appears new or different.    

Implication is the implied promise of a brand. A brand's implication can be positive or negative. For example, Nike's implication is that its products will make you look good. Strategy is the plan that a company uses to achieve its goals. Light category buyers are customers who are not loyal to a brand. Double jeopardy is when a customer is faced with two similar choices that are both associated with a particular brand. High market share is when a company has a high percentage of the market. Low market share is when a company has a low percentage of the market. 

About the Author

Byron Sharp is a marketing scholar who has studied brands for over 40 years. He has written many books about how brands work and how marketers can use them for their own purposes.

He has written a number of books on the subject, including "Marketing Myths: Busting the Conventional Wisdom That Is Stopping You from Building a Great Business" and "The Essential Guide to Marketing Research." Other important books include "Great Marketing: How to Build a Competitive Edge" by Geoffrey Moore and "Perceptions: The Making of a Social Reality" by Proctor and Gamble researchers John Kotter and Fred Reichheld.

Byron Sharp is a professor at the University of South Australia and has been researching marketing since 1980. 

Top Takeaways

There are three things marketers should keep in mind when trying to grow a brand: sharps view, ideal outcome, and hyperloyal buyer. Sharps's view means that marketers should be aware of what other brands are doing and how they are succeeding.

They should also be aware of the competition and how they can improve their product or service. The ideal outcome means that marketers should set a goal for their brand and work to achieve it. Hyperloyal buyer means that a customer is very loyal to a brand and will continue to use it even if there is a decrease in quality or service. Friends mean that a brand should create a relationship with its customers and build trust. 

A key marketing task for a brand is to create a physical presence. This means that the brand should have a physical location where customers can find it and buy its products. The brand should also have advertising that is visible to customers. The products that the brand sells should be available in different segments. For example, the brand might sell products that are for adults and products that are for children.

If a company does not have a physical presence, it can still grow by creating advertising campaigns and by selling its products through different channels. For example, the company might sell its products through a website, a store, or a distributor. The company also might sell its products through a direct marketing campaign. When a company creates a physical presence, it can increase its sales by offering more products.

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PurchaseInfluence: The Psychology of Persuasion on Amazon and Audible

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