Friday, January 31, 2020

Are you available?

I would spend the majority of my time in increasing brand penetration rather than brand loyalty. I don’t believe that consumers are that “loyal” to a brand. Their “loyalty” is likely because of convenience and availability. It’s just easier to stick to the brand. And easy is hardly a good yardstick for loyalty. 

Consumers are promiscuous. They buy one brand often and occasionally buy many other brands for many different reasons. Your job as a marketer is to keep pushing your brand into the “occasionally purchase” set and onwards to the “frequently purchase” set. The more available (mentally and physically) you are, the easier it is to consider you.

Are they that loyal?

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Thursday, January 30, 2020

Who is your competitor?

Most people define their competitors too narrowly. The market is les segmented than you think it is. You may think you are selling chocolate-flavoured biscuits wafer. But the consumers think chocolate. You are competing with a chocolate brand but you think you aren’t. Think through who your competitors are carefully. 

If you are a small player, your biggest competitor is the largest brand in the category. Not similar sized brands with you.

Who are you selling to?

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Wednesday, January 29, 2020

Can you just do it sporadically?

Brand investment like advertising is like eating well and exercising. You can’t do these things once and expect to see results. Your ultimate aim in building your brand is to make it strong. To be strong, you need to spend on good food and a good work-out plan on the long term.

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