Doe this sound familiar?
You need to spend time creating a position that is driven by the corporation.
Once created, the position must be communicate across traditional media (with a nod toward social media, but a nod only) to as many people as possible and hope that some of it sticks.
If it doesn’t, create a new position and repeat ad nauseum. Hopefully you will get it right. If you don’t, well you can always discount. This model was developed by Jack Trout in the 1970s. I wrote a blog post about it here
Sadly, despite US$1.5 trillion spent annually on marketing, 70% of today’s manufactured goods will be obsolete in six years (Industry Week magazine). There are estimated to be more than 30,000 new product introductions in the US alone every year, and that’s just in the packaged goods market. According to AC Nielsen, up to 90% of products fail to become brands. This means that as many as 27,000 of those new products will fail.
Today’s consumer has changed the way he lives his life and moreover, markets are so fluid, spending time developing a position and watching your competitors is the fastest route to business oblivion.
The key to success is the sales force and their ability to build your business through collaborations and by matching products/services to individual customer requirements for value and then maintaining those relationships and your brand communities team who develop brand evangelists and influence influencers.
And with social media and modern technology, that is not difficult. A lot less difficult than creating a position and pinning all your hopes on, well hope.