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November 30, 2005

Great Ideas – Part I

Filed under: New Releases — Todd Sattersten @ 11:24 am
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A couple months ago, I saw a review in the Wall Street Journal about a new series that Penguin has put out. I would intrigued because they were small paperbacks of classic works. I got a set of the books in and I think they are marvelous (and have ever seen me use the word marvelous?).

There are 12 books in the series:

  • The Christians and The Fall of Rome by Edward Gibbon
  • Common Sense by Thomas Paine
  • The Inner Life by Thomas Kempis
  • Meditations by Marcus Aurelius
  • On Art and Life by John Ruskin
  • On Friendship by Michel de Montaigne
  • On Natural Selection by Charles Darwin
  • On the Pleasure of Hating by William Hazlitt
  • On the Shortness of Life by Lucius Annaeus Seneca
  • The Prince by Niccolo Macchiavelli
  • Why I Am So Wise by Friedrich Nietzsche
  • Why I Write by George Orwell

This series is one Penguin US imported from their counterparts in the UK. Tomorrow, I am going to post a Q&A with Simon Winder, the UK editor that ushered these to bookshelves.

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Married to the Brand – Part III

Filed under: Blog,Excerpts and Essays — 800-CEO-READ @ 9:11 am
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CALL ME IRREPLACEABLE

Passion can be detected and monitored, and that paves the way for how it can be managed. The metric for assessing brand Passion consists, as with the other three components of brand attachment, of two related rating scales:

  • [Brand] is the perfect [company/product/brand/store] for people like me.
  • I can’t imagine a world without [Brand].

Copyright 2000 The Gallup Organization, Princeton, NJ. All rights reserved.

Time after time, customers show they can readily rate the brands they use on these two scales. That doesn’t mean customers are passionate about lots of brands. They’re not. It means only that their ratings are clear and consistent indicators of the extent to which their brand marriages are marked by a deep commitment — a sense of brand Passion — and not merely by convenience or habit.

Studies show that there are vast differences between competing brands:

  • In a survey in India, almost a third (31%) of the buyers of one packaged food product had Passion for that brand. Their competitor generated Passion among only 22%.
  • In a grocery shopper survey in the United States, one chain built brand Passion among just one in six (16%) of its customers but was attempting to compete with a chain that had achieved this same level of customer Passion with almost half (45%) of its customers.
  • A leading U.S. insurance company had created Passion among one in five (22%) of its current customers, while attempting to compete with other companies whose levels of Passion ranged from 31% to 53%.

Insurance might not seem like a category that would be marked by much Passion. That’s why many financial services products have been marketed like commodities. However, just because companies treat their products like commodities does not mean that consumers view them that way.

Consumers are passionate about the brands they feel are perfect for them — brands they feel they absolutely couldn’t do without. The second component rating illustrates how consumers feel about this relationship: “I can’t imagine a world without [Brand].” It sounds extreme, and it is. That’s intentional, because we’re searching for truly great brand marriages. This measure separates world-class performers from merely good ones; it distinguishes the passionate from the perfunctory.

We’ve found Passion in almost every product category. We’ve found it among rich customers and poor ones, among the old and the young, and among men and women. Business customers express Passion, as do individual end-users. We’ve found it in Thailand and Brazil, as well as in Germany, Japan, and the United States. In short: Passion is there, even if it seems invisible, and even if nobody has noticed until now.

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November 29, 2005

Quote of the day and a little more.

Filed under: General Business — Kate @ 2:15 pm
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Like many, I get the Fast Company blog updates in my Inbox. One entry (I admit that in the blogosphere, it’s slightly outdated having been posted on November 7) has stuck in my mind and in my Inbox for the last few weeks.

It starts with a quote from Tom Peters:

If you’re not confused, you’re not paying attention.

It’s interesting because ambiguity is a necessary part of life. A part of life that has led to a man walking on the moon, the personal computer, the latest flu vaccine and much more. I know we (as human beings) would not have come quite as far without the ambiguity which has birthed questions that have led to creation. The FC blog entry further explains the idea that confusion is not necessarily a bad thing.

Other treats for today:

Jackie Huba and Ben McConnell, authors of Creating Customer Evangelists are giving away themselves (literally) for the day. Enter now at inBubbleWrap.

Also this week, we are posting a few excerpts from Married to the Brand on why customers become passionate about certain brands.

Enjoy.

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Married To The Brand – Part II

Filed under: Blog,Excerpts and Essays — 800-CEO-READ @ 9:54 am
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Chapter Eleven
The Emotional Pinnacle: Brand Marriage

Confidence, Integrity, and Pride constitute a brand edifice of which any CEO should be justifiably proud. Yet, as with every building, there are the finishing touches that separate the temporary from the permanent, and that represent the difference between a functional dwelling and a greatly cherished dream home. The difference between “like” and “love” in a customer relationship is Brand Passion.Consumers who are passionate about a brand are convinced that it’s absolutely perfect for them. Moreover, they’ve come to believe that their world would be somehow incomplete if that brand were no longer available.

There are products that seem irreplaceable. These include essentials, like refrigeration or antibiotics and other wonder drugs. They also include more mundane products and services that have carved out unrivaled niches in the everyday lives of consumers: The television remote, cell phones, microwaves, and e-mail fall into this category. We can’t live without them.

However, brands also inspire Passion:

“I couldn’t live without … Shredded Wheat. I have it every day. It’s part of my daily routine, and without it my day isn’t complete. It sounds silly, but when my husband went to eat the last bowl yesterday, I bit his head off.”

“Without that brand? I would feel as if I’d lost a good friend.”

“For me, it’s Casual Corner. When I go there, they know who I am. I have a sense of comfort there, and I’m always happy to pick up the phone (when they call).”

“Singapore Airlines. They have great customer service. Once, when I was sick, they took care of me. I felt really taken care of. They went the extra mile.”

Even business-to-business customers express their passion for some brands:

“Frankly, I just don’t know what we’d do without them. They’ve always been there for us. They don’t just react to our emergencies, and we have plenty of those. They keep coming to us with ideas. I think they care as much about our success as we do.”

Passion is at the apex of the brand attachment pyramid. It’s the ultimate emotional bond for any brand, one manifested in the customer’s dedication to supporting and even evangelizing its merits.

While hardly widespread, brand Passion is evident in some surprising places. We’ve found it not only in the land of luxury vehicles and resort hotels, but also in the presumably dispassionate world of mortgages, gas stations, and packaged cheese. It’s there, waiting to be stoked — and to be understood.

Wherever there is brand Passion, there are also rival brands that fall short of their competitors — and some that don’t even come close. These latter brands suffer as a result; they have weaker emotional links with customers, and they’re also vulnerable to the negative business consequences that follow from a flimsy customer relationship.

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Married to the Brand – Part I

Filed under: Blog,Excerpts and Essays — 800-CEO-READ @ 9:30 am
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Married to the Brand

Married to the Brand: Why Consumers Bond With Some Brands for Life
by William J. McEwen
Gallup Press – November 2005
210 Pages – 1595620052

William J. McEwen explains brand Passion and why some consumers crave the brand name and others don’t. Here are a few excerpts from McEwen’s book about the passion that encourages consumers to pay the extra 1000′s of dollars for a BMW or shell out the money for the new Apple Nano.

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November 28, 2005

Wes Moss/Starting From Scratch Interview

Filed under: Audio — Todd Sattersten @ 4:58 pm
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I have a natural attraction to books on entrepreneurship. I can’t help it. Starting from Scratch is a book of stories about people who have built business. These are businesses you most likely have never heard of unless you are one of their customers. Author Wes Moss talked to 21 owners to find out what allowed them to be successful. In the interview, we talk about the trials and tribulations of small business.

mp3, 29:13, 20.1MB

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Next For Friedman

Filed under: Global Business — Todd Sattersten @ 1:20 pm
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Publisher’s Weekly interviewed Thomas Friedman for their Three Anwers Feature on the heels of him winning the Goldman Sachs/FT Business Book of the Year Award. For fans of The World is Flat, here is question three and the answer:

PW: What’s your next project?

TF: I’m going on leave for a month and working on the updated and expanded version of The World Is Flat, which will be out in paperback and probably also a [new] hardback edition this spring. To show how far we’ve come since the first edition, at the beginning of November the podcast version of this book was the #1 selling album on Apple iTunes. When I started this book in March 2004 podcasting didn’t even exist.

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Fast Company continues to support books

Filed under: Uncategorized — Todd Sattersten @ 12:11 pm
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Fast Company since its inception has supported new business thought. You can look at the profiles of people like Watts Wacker and George Stalk. You can point back to the classic covers of The Brand Called You and Free Agent Nation.

I am happy to see that commitment continue with the new leadership and ownership at the magazine. The November issue has three (count them THREE) piece by Lucas Conley, their new book reviewer. He starts with a piece called Year of the Economist, where he talks all the hub-bub about the dismal science. He then write a feature article on our friends over at Berrett-Koehler (they have a really different model for publishing). He ends with the Reading List (here and here) which includes this month Smartbomb, One Billion Customers, and Let My People Go Surfing.

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Tim Harford/Undercover Economist Interview

Filed under: Audio — Todd Sattersten @ 11:48 am
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I really like this book. After reading the first two chapters, I got on the phone to arranged an interview with author Tim Harford. I like to describe The Undercover Economist as the book you wish you had read for your freshman econ class. In this interview, we talk about coffee, iTunes, and congestion.

mp3, 40:54, 28.1MB

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This Week – 11/28/05

Filed under: Misc. — Todd Sattersten @ 11:24 am
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I know everyone is trying to wind themselves back up after the four day weekend. Here are a few of things to get you going:

We are doing our grand opening at inBubbleWrap. We have pulled together some really great stuff for this week. My only hint is that you DO NOT want to miss tomorrow.

This week will we be posting two author interviews. I should have them both up today. First is a talk with Wes Moss, author of Starting from Scratch. The second is with Tim Harford, author of The Undercover Economist. You will be able to find those over on the Podcasts Blog.

I am sure there will be other bits and pieces. This month of December is slower for business books. The next big release is the first week of the New Year.

Have a great week!

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