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The transformation from ultra-cheap Lucky Goldstar to upscale LG Electronics has been nothing short of remarkable. Credit goes to Michael Ahn, who guided the branding effort for LG Electronics North America before stepping down as the Group’s president and CEO in 2010.
More Over the past few years, I discover more and more senior level executives who do not have a full grasp of primary business strategy drivers that drive revenue and profits. I’ve met with Chief Executive Officers (CEO) who just dismissed their Chief Marketing Officer (CMO) and asked “Why did you remove this person and what change in business activities do you seek in your next CMO?” Amazingly most can’t answer this basic question with a well thought out and rational answer. Part of the problem starts here.
More Sitting atop an old bushel basket, the aroma of aged tobacco wafting through the air, and the loud jumbled racket of an auctioneer rattling off lot prices, was the recollection of my first auction experience. Reminiscing over nostalgic memories of accompanying my grandfather to the American Tobacco Company sale in Reidsville, NC, at the ripe age of 6 years old will be forever engrained in my mind. Not until a graduate school game theory class evoked my long lost love of auctions, did I start thinking about the efficacy of auction marketplaces allocating resources among consumers.
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Giving up is living suicide. I choose life. The responsibility for ensuring your customers care about your differential value is yours. The…
More Are irritating fees undermining marketers’ hope for establishing relationships with consumers and creating “customers for life.” Read on…
More There are three key questions that must be asked for every pricing problem. Each must be asked from the customer’s perspective, not your own. Number 1: What is the alternative? Number 2: Are you better or worse? And Number 3: Why should I expletive care?
More The question some suppliers constantly ask is “How did we get into a situation where the only thing that seems to matter to our customers is price?” It’s an important question, and one where the unfortunate answer often is, in the words of Jimmy Buffett, “It’s my own damn fault”.
More Progress can’t make itself. Make it. If you want to win, you have to be in the game. Who is your target…
More How should salespeople sell? Yes, they need to be well groomed (presentable), have a good people skills and a tough skin, and have an orientation towards action and winning. But assuming they have these basic skills, what specifically should they do?
More What do Eastman Kodak, Sears Roebucks, K-Mart and American Airlines have in common? They are all U.S. corporate icons on the verge of implosion and each one of these likely failures is through a fault of corporate marketing management. The rules for marketing are pretty simple. So what is “marketing?”
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