IN the second edition of the influential Eating the Big Fish: How Challenger Brands Can Compete Against Brand Leaders, author and branding genius Adam Morgan identifies and discusses his eight credos of successful ‘challenger’ brands. Morgan defines ‘challengers’ as “people or organizations whose ambition exceeds their resources”.
Morgan’s book is aimed ostensibly at senior marketing executives and CEOs -- but its messages will resonate with anyone possessing ambition and an appetite for growth.
The second edition has been updated to reflect a new global generation of challenger brands that are providing fresh inspiration. Two new chapters have also been added, addressing what it means to be in charge of a challenger brand, what, exactly, a challenger brand needs to challenge.
Here are the credos Morgan examines in his book:
Competitive advantage strategies: 1. Intelligent naivety
Marketers must break free from the clutter of little pieces of knowledge in order to see the real opportunities for radical growth.
Competitive advantage strategies: 2. Build a Lighthouse Identity
Develop a clear sense of who or what you are as a brand/business – and project that identity intensely, consistently, and saliently.
Competitive advantage strategies: 3. Thought Leadership
Make your brand the one that everyone is talking about, no matter the size.
Competitive advantage strategies: 4. Create symbols of re-evaluation
Capture consumers’ imagination by doing the unexpected in a big way; forcing them to look at your brand differently.
Competitive advantage strategies: 5. Sacrifice
With fewer resources than the big fish, what challengers choose to sacrifice is as important to their success as what they choose to do.
Competitive advantage strategies: 6. Over-commit
Select one or two key activities, and, don’t just commit, but overcommit to ensure success.
Competitive advantage strategies: 7. Enter social culture
Treat communication ideas and publicity as high-leverage assets that make brands relevant.
Competitive advantage strategies: 8. Become Ideas-centered
Maintain momentum by generating ideas that constantly refresh and renew the relationship with the consumer. Don’t be consumer-centred.
Asked which of his eight credos he considers the most important, Morgan says: “All eight have to work together, but it’s the second credo: build a lighthouse Identity.
“The notion that success as a challenger comes through developing a very clear sense of who or what you are as a brand and business and why, and then projecting that identity intensely, consistently, and saliently to the point where, like a lighthouse, consumers notice you and know where you stand. Believe it or not, few brands actually know themselves that well.”
About Adam Morgan
Adam Morgan is the founding partner of eatbigfish, an international brand consultancy specializing in challenger behavior and strategy.
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competitive advantage strategies, from the master
19 Feb 2010
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