Description
Book SynopsisGrow the Core stands conventional wisdom about business growth on its head and provides a proven formula for growing your business in recessionary times. These days, it s a common belief among business leaders across industry sectors that the best way to grow their businesses is to expand into new markets.
Trade ReviewIncludes useful tips, including how to strengthen a core brand with a limited communication budget. (Supply Business, January 2013) For a marketer, retail buyer, entrepreneur or interested consumer, this is a great book looking at whether businesses should stick to what they know of their original or most profitable brand or whether businesses should expand into other broader areas. (Supply Management, February 2013) The marketing division of any well-established company should study this book- you never know when the mighty might fall. (Professional Manager, May 2013)
Table of ContentsThanks xi
Introduction xiii
Part I: Why Grow the Core? 1
1. Defining the core 3
What is the core? 3
Anchoring the core 7
Key takeouts 9
Checklist 9
2. Stretching the brand, forgetting the core 11
Getting it right… brand stretch can work – Apple 11
Getting it wrong… brand ego tripping – Virgin 13
Snow White and the 17 dwarves 20
Neglecting the core – Bausch & Lomb 24
Key takeouts 25
Checklist 26
3. The case for the core 27
Two ways to make a million – Heinz soup 27
The case for the core 30
A new marketing mind-set – Scooty 30
The challenges of growing the core 32
Key takeouts 36
Checklist 36
Part II: Grow the Core Principles 37
4. The core growth drivers 39
Core growth driver 1: Penetration 39
Driving penetration with distinctiveness 44
Fresh consistency – James Bond 48
Driving penetration with distribution 57
Core growth driver 2: Premiumisation 58
The Grow the Core workouts 59
The best brand in the world – Nespresso? 61
Key takeouts 65
Checklist 66
5. Renovation or re-invention? 67
Renovate the core – Walkers 69
Re-position the core – Lucozade 72
Re-define the core – Bertolli 76
Re-invent the core – Kodak and TomTom 77
Key takeouts 82
Checklist 83
Part III: Grow the Core Workouts 85
6. Workout 1: Bake the brand into your product 87
Bake in your brand – The Geek Squad 89
Using product to grow your core 1: Amplify a product truth – Morrisons and Castle Lite 92
Using product to grow your core 2: More of what you want – McDonald’s 97
Using product to grow your core 3: Less of what you don’t want – Walkers 99
Key takeouts 100
Checklist 100
7. Workout 2: Create a distinctive identity 103
Identity crisis 105
Being the 1 in 1000 106
Balancing freshness and consistency – Tropicana 108
Updating your identity – Nivea 110
Creating your identity – Charlie Bigham’s 111
Suggesting a benefit – Waitrose Essentials 113
Re-positioning – Green & Black’s 115
Adding value – Molton Brown 115
Packvertising – innocent 116
Family ties – Nescaf´e and Red Bull 118
Amplifying brand properties – Felix 121
Five-minute focus groups 122
Key takeouts 124
Checklist 124
8. Workout 3: Communicate with cut-through 127
Communication breakdown 129
Fresh consistency 132
Think like a TV producer 137
Creating a campaign – Sainsbury’s 138
Refreshing what made you famous – Hovis 140
What about social media? 144
Key takeouts 161
Checklist 162
9. Workout 4: Go beyond promotion to activation 163
Grab and go – innocent’s Big Knit 166
Creating an activation property – Carling ‘Be the Coach’ 168
Amplifying the property – Nike 172
Key takeouts 175
Checklist 176
10. Workouts 5 and 6: Drive your distribution 177
Workout 5: Existing channels 180
Workout 6: New channels 182
Key takeouts 188
Checklist 189
11. Workouts 7 and 8: Extend the core 191
Delivering a double whammy 193
Workout 7: Pack extension – WD-40 196
Workout 8: Product extension – Ryvita 199
Key takeouts 202
Checklist 202
Part IV: The Grow the Core Workplan 203
12. Grow the core – getting started 205
Stage 1: Insight 207
Stage 2: Ideas 214
Stage 3: Exploration 214
Stage 4: Action 215
Key takeouts 220
Checklist 221
References 223
Also by 227
Index 229
