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Using empathy to put customers, clients, and end users at the center of the problem-solving equation is the foundation of design thinking. With this focus, design becomes a tool for change, capable of transforming the way companies do business, hire talent, compete, and build their brand. To quote Nobel laureate Herbert
generate deep insights. For example, pharmaceutical companies have lagged far behind cPG companies in adopting needs-based segmentation. indeed, many pharmaceutical brands are still using behavioral segments (decile-based) to guide all their marketing and sales activities. cPG companies are now relying less on
McKinsey Marketing Practice. 13 brand's personality. Incumbents must pay particular attention to how these new brands are shortening the lifecycle of their brand propositions. Our research reveals that an average retail lifecycle It has hired and trained exceptional frontline employees, created clear guidelines and.
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brand identity is about projecting an image that will remain recognizable, credible, and sustainable over extended periods of time. Best-practice companies build their brands around attributes that set them apart from their competitors. IBM, for example, is claiming a “Smarter Planet" as a unique, defendable concept in their
Marketers rely too much on intuition. The key to building brands more scientifically is to combine a forward-looking market segmentation with a better understanding of customers and a brand's identity.
interviews with 30 CMOs and brand managers at a dozen leading . defining brand-equity guidelines, and conducting each brand. 4. Establish rapid-response mechanisms. Speed is key in digital marketing and sales. Customers who make online inquiries expect a response within an hour, and 88 percent say they're
In part by establishing clear roles, relationships, and boundaries for their brands and then, within these guidelines, giving individual brand managers plenty of scope, subject to oversight from one person who is responsible for the portfolio as a whole. Top-down goals, such as P&G's recent desire to prune brands that aren't
Brands can be a company's most valuable intangible asset. Our research has indicated that companies with strong brands earn up to 5 percentage points higher total return to shareholders than their industry counterparts.

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March 2018