Why do eight out of ten new consumer products fail? Sometimes because they are too new. The first cold cereals were rejected by consumers. More often new products fail because they are not new enough.
David OgilvyRead
Brands are all about trust. That trust is built in drops and lost in buckets.
Interpretation
Building trust in a brand takes time and effort, but losing it can happen quickly and easily.
This quote by Kevin Plank emphasizes the critical nature of trust in branding. It suggests that while establishing trust with customers takes consistent effort and small, incremental actions, it can be dismantled swiftly by significant failures or missteps, highlighting the delicate balance brands must maintain in their relationships with consumers.
In practice
In a business meeting when discussing brand strategy.
Why do eight out of ten new consumer products fail? Sometimes because they are too new. The first cold cereals were rejected by consumers. More often new products fail because they are not new enough.
Market leaders inevitably slip into decline when they tell the people what they want instead of giving the people what they want.
If your customer base is aging with you, then eventually you are going to become obsolete or irrelevant. You need to be constantly figuring out who are your new customers and what are you doing to stay forever young.
Our vision, which has not changed since the day the company was founded.
Starbucks represents something beyond a cup of coffee.
The single biggest reason companies fail is they overinvest in what is, as opposed to what might be.
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