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Challenger Brands - strategies to make market leaders sweat
Challenger brands are those that are not market leaders but strive to challenge and disrupt dominant players. They follow eight key credos, including intelligent naivety, building a unique identity, and becoming thought leaders. These strategies can be applied to any brand facing competition in the market.
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Challenger Brands - strategies to make market leaders sweat
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- 3. WHAT IS AMARKET LEADER? • Size advantage • „Increasing returns‟ • First, best or only in their category • Highest brand loyalty & purchase frequency • Highest brand awareness CHALLENGER BRANDS
- 4. WHAT IS ACHALLENGER BRAND? • They aren‟t the number one brand in their market • Ambitious beyond their means • They are successfully challenging the market leader CHALLENGER BRANDS
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- 7. THE 8 CREDOS •Intelligent naivety CHALLENGER BRANDS
- 8. “I‟ve had greatfun turning quite a lot of industries on their head and making sure those industries will never be the same again” – Sir Richard Branson CHALLENGER BRANDS
- 9. THE 8 CREDOS •Intelligent naivety • Building a “lighthouse identity” CHALLENGER BRANDS
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- 11. THE 8 CREDOS •Intelligent naivety • Building a “lighthouse identity” • Become the thought leader CHALLENGER BRANDS
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- 13. THE 8 CREDOS • • • • Intelligentnaivety Building a “lighthouse identity” Become the thought leader Create a symbol of re-evaluation CHALLENGER BRANDS
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- 15. THE 8 CREDOS • • • • • Intelligentnaivety Building a “lighthouse identity” Become the thought leader Create a symbol of re-evaluation Sacrifice CHALLENGER BRANDS
- 16. “If you‟re notpissing off at least 50 percent of the people, you are not trying hard enough” – Yvon Chouinard, CEO of Patagonia CHALLENGER BRANDS
- 17. THE 8 CREDOS • • • • • • Intelligentnaivety Building a “lighthouse identity” Become the thought leader Create a symbol of re-evaluation Sacrifice Overcommit CHALLENGER BRANDS
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- 19. THE 8 CREDOS • • • • • • • Intelligentnaivety Building a “lighthouse identity” Become the thought leader Create a symbol of re-evaluation Sacrifice Overcommit Enter popular culture CHALLENGER BRANDS
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- 21. THE 8 CREDOS • • • • • • • • Intelligentnaivety Building a “lighthouse identity” Become the thought leader Create a symbol of re-evaluation Sacrifice Overcommit Enter popular culture Be ideas-centred CHALLENGER BRANDS
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- 23. THE 8 CREDOS Intelligent naivety Building a “lighthouse identity” Become the thought leader Create a symbol of re-evaluation Sacrifice Overcommit Enter popular culture Be ideas-centred CHALLENGER BRANDS
- 24. WHAT DOES THISMEAN FOR SUITS?
- 25. These strategies ofChallenger Brands can be applied to any brand with challenges CHALLENGER BRANDS
- 26. INTERESTED? • „Eating theBig Fish: How challenger brands can compete against brand leaders‟ - Adam Morgan. $21.04 on Amazon • http://eatbigfish.com/ • Find this presentation on SlideShare at www.slideshare.net/JohnBlaskett CHALLENGER BRANDS