LESSON 5: Price Brand Manage your price reputation Brands do NOT need to reduce prices in order to be considered more price competitive. Consumers’ assessment of a brand’s price competitiveness is not wholly determined by the actual price, but also, by its reputation. Forethought refers to this distortion...
LESSON 4: Repositioning For repositioning brand on a non-price attribute, patience is a virtue When it comes to managing executives’ expectations on how long repositioning will take and market share will follow, there is no exact science; however, there are some heuristics which we hope you...
LESSON 3: TRUST In a crisis, the market sees straight through “virtue wrapping” Consumers store trust and distrust in brands. Evidence of consumer trust is their preparedness to regard a brand’s occasional imperfect behaviour as an aberration (for example, the exploding Samsung Galaxy Note 7). From both an...
LESSON 2: NORTH STAR Your brand’s North Star is the intersection between the brand promise and the customer experience. The North Star is the superordinate brand promise and therefore should be matched with actual customer experience. Indeed, in most jurisdictions, this is a consumer right embodied...
LESSON 1: MEASURE WHAT MATTERS Introduce real non-financial lead indicators Boards and executives are seeking actionable metrics that forecast the economic prosperity of the brand/business. Unequivocally, Forethought has found the metric ‘brand health’ is the most effective non-financial lead indicator of acquisition of customers and market share. We...