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In 2008 Abbott introduced a revolutionary new device, FreeStyle Navigator, designed to improve the lives of the world's more than 500 million diabetes patients by offering continuous glucose monitoring with technology that could translate an electrochemical signal from the body into precise, real-time data. Doctors and patients who tried the device appreciated it—but it was bulky, hard to manufacture, and expensive. And without widespread adoption, it wouldn't have the hoped-for impact. Abbott's leaders soon realized that they needed to go back to the drawing board. Four years later they launched FreeStyle Libre, a reimagined continuous glucose monitoring (CGM) system in which an even smaller sensor applied to a patient's arm sends data directly to a smartphone app every minute. It is now used by millions globally, and by the end of 2024 it will have generated more than $5 billion in revenue, making it one of the most successful medical devices—as measured by usage and sales—in history. The pivot from the Navigator to the Libre was a deeply consequential decision for Abbott, and others can learn from the principles the company's leaders followed to arrive at and then execute on that choice. [ABSTRACT FROM AUTHOR]

The article discusses the pros and cons of launching new consumer products during a recession. The authors explore how products introduced during a recession perform, examine how the severity of the recession can impact performance of the product, and scrutinize if the timing within the recession matters. INSET: "A Recession-Era Product Launch Is Like a Running Start".

The article presents an interview with Roy Sexton, Director of Marketing at Clark Hill. He discusses his unconventional career path into legal marketing, his approach to helping attorneys connect authentically with clients, and the common missteps law firms make in their marketing strategies. Topics discussed include the importance of internal marketing, the value of a cohesive brand message, and the challenges of being recognized within the firm.

The article discusses how to best brand a new product. A popular strategy known as brand extension, where the new product is tied into an existing product can have a negative consequence on both the new product and the existing product. In this article research is cited looking into the various branding strategies—new brand and two types of brand extension-direct extension and sub-brand—with success criteria. The success criteria are identified as fit with the company’s current offerings, innovation of the new product, span of existing portfolio, risk of brand dilution, and amount of advertising funds. INSET: "Look for Opportunities to Stimulate People's Imaginations".

Though social and digital media are rapidly transforming marketing and new tools emerge daily, in most firms the organization of the function hasn’t changed in 40 years. How should marketers revamp their strategies, structures, and capabilities to meet the new realities? To find out, the consultancy Effective- Brands and its partners conducted a study involving 10,000 marketers from 92 countries, which examined what separated high-performing marketers from the pack. High performers, the study showed, excelled in three areas: integrating data about what customers are doing with an understanding of why they are doing it; communicating a brand purpose (the functional, emotional, and societal benefits of the offering); and delivering a “total experience” to customers. To provide this kind of experience, high performers break down silos and enlist the help of the entire organization. That means they must link marketing strategy tightly to business strategy and to other functions; inspire employees across the company with the brand’s purpose; focus and align around a few key priorities; set up nimble, cross-functional teams; and build internal capabilities through extensive training at all levels. Surprisingly, few companies have been able to put all these pieces together. Only half of even high-performing organizations excel on some of these capabilities. But that shouldn’t be discouraging; rather, it just illuminates where there’s work to do. [ABSTRACT FROM AUTHOR]

In the traditional strategic-planning model, managers attempt to forecast how markets will evolve and competitors will respond, and then define a multiyear plan to position their company to win in this future state. That worked well when markets were more stable and the primary factors influencing future growth and profitability were easier to forecast. But the world is now changing so quickly that no business can plan for every eventuality. And fewer than a quarter of large organizations employ the most notable tools and frameworks for strategy development under uncertainty: scenario planning, Monte Carlo simulation, and real options analysis. Executives say that those tools require data that is impractical to gather and analysis that is too expensive to execute routinely and that their output can be counterintuitive and complicated to explain to senior leadership and the board. In this article the authors offer a new approach and mindset for making strategic decisions, along with a new model for managing strategy development and performance monitoring. They describe what it takes to produce great results in uncertain times and propose a practical model for strategy development that they have seen succeed at several leading companies. INSET: The Drivers of Unpredictability. [ABSTRACT FROM AUTHOR]

Some branded product companies are sidestepping digital aggregators like Amazon and Google Shopping and instead building their own brand flagship platforms. These platforms are more than just a direct sales channel. They provide a mix of specialized products, services, and content by involving participants—consumers and third-party businesses—in the value creation process, as both receivers and providers of value. In this article, the authors introduce four types of brand flagship platforms: platform as instrument, as guide, as canvas, and as companion. They describe the relationship style, risks, and opportunities associated with each one. [ABSTRACT FROM AUTHOR]

Companies often believe they should make their customers’ experiences as effortless and predictable as possible. But the authors’ research shows that this approach is overly simplistic—and can even backfire. While in some instances (say, watching movies on Netflix) customers want their journeys to be easy and familiar, in others (working out on a Peloton bike or playing World of Warcraft) they want to be challenged or surprised. This article outlines four kinds of journeys: Routines are effortless and predictable and are suited to utilitarian products. Joyrides are effortless and unpredictable and work with products that deliver an on-demand thrill. Treks are effortful and predictable and are associated with products that help people achieve challenging long-term goals. Odysseys are effortful and unpredictable and are perfect for products that facilitate customers’ passion projects. Each type of journey has its own design principles. Routines should offer consistent touchpoints in familiar sequences; joyrides, endlessly varied moments of delight. Treks require goal-posting (breaking big objectives down into small ones), and odysseys, substantive variation and journey tracking. [ABSTRACT FROM AUTHOR]

Research target audience and competitors to tailor marketing strategy. Build a strong brand identity and online presence to attract clients. Leverage tools like social media and SEO along with networking to broaden reach. [ABSTRACT FROM AUTHOR]

The article presents the author's views on the need for thorough marketing in new products and services. The author offers examples of both successes and failures for organizations to consider, and recommendations to implement in their marketing strategy. Recommendations include identifying customer needs, product perception, engaging with customers in use cases, developing customer experience, and utilizing a marketing strategy appropriate to the offering and its target customers. Examples include Google Glass, L-Cups,and the Sony Reader.

The article presents information on the use of sensory stimulation as a marketing strategy. Recent research suggests that sense-based marketing can intensify consumer perceptions of a brand and increase sales percentages. Topics include the current focus companies place on visual attributes of a product, the current use of sensory marketing in the automotive industry, and the potential impact of sensory stimulation on memory. Insights from Aradhna Krishna, director of the Sensory Marketing Laboratory at the University of Michigan, and author of the 2013 book, "Customer Sense: How the 5 senses Influence Buying Behavior," are presented. INSETS: Warmth Induces People to Conform;"Taking Sensory Communication to a Whole New Level".

The article lists four ways that one can boost their businesses' social media marketing effectiveness including defining one's goals, exploring which platforms should be used and whether or not you're ready to talk with your audience in real time.

The article focuses on pricing strategies for photographers, emphasizing the importance of finding the right balance between charging too little and undervaluing their work or setting rates too high and deterring potential clients, especially in light of the current cost of living crisis. Topics discussed include how to factor in editing time, choosing between package fees and hourly rates, as well as distinguishing between Business to Consumer and Business to Business clients.

The article focuses on various irritants faced by consumers in the retail sector, including disruptions in product availability, long queues, and cleanliness issues. It highlights the impact of these issues on customer loyalty and retailer profitability, particularly in times of inflation. It further discusses challenges related to marketing strategies, supply chain issues, and price changes.

This article discusses three reasons why authors resist book marketing and provides strategies to overcome that resistance. The first reason is that authors feel they are not ready to market their book because it is not completed, but the article argues that it is never too early to start marketing. The second reason is that authors are intimidated by book marketing because they are unfamiliar with it, but the article suggests that the same creativity used in writing can be applied to marketing. The third reason is that authors find it scary to put themselves and their book out into the world, but the article encourages authors to embrace the exposure and have confidence in their message. The article emphasizes the importance of identifying the book's message, audience, and hook as the foundation for effective book marketing. [Extracted from the article]

The article explores the essential elements for sustaining a successful makerspace, highlighting the importance of community collaboration, effective marketing strategies, clear policy development, and fostering a supportive staff culture to ensure the space's longevity and impact. Topics include community engagement, marketing strategies, policy development, and staff training.

If you’re unhappy at work—and changing roles or companies may be unrealistic given the tough economy—what can you do? A growing body of research suggests that a process called job crafting can be a powerful tool for reenergizing and reimagining your life at work. It involves redefining your current job description to better incorporate your motives, strengths, and passions. The exercise prompts you to visualize your job graphically, map its elements, and reorganize them to shape the job to better suit you. In this way, you can put your own personal touches on the way you see and do your job; and you’ll gain a greater sense of control at work—all of which is especially critical at a time when you’re probably working longer and harder than ever, and will be retiring later. Perhaps job crafting’s best feature is that it’s driven by you, not your supervisor. Research with a range of organizations indicates that employees who engage in job crafting often end up more engaged and satisfied with their work lives, achieve higher levels of performance in their organizations, and report greater personal resilience. Organizations have a lot to gain by enabling job crafting: The exercise lets managers turn the reins over to employees, empowering them to become “job entrepreneurs.” And when raises are constrained or promotions impossible, job crafting may give companies a different way to motivate and retain their most talented employees. [ABSTRACT FROM AUTHOR]

The article focuses on the resurgence of photo booths that produce strips of analog pictures, particularly among Generation MZ, those born between 1981 and 2005 in South Korea. It discusses the revival of this trend, its popularity among young Koreans, and the various innovations and marketing strategies employed by photo booth businesses to cater to their customers.

The article reports on the anti-corporate, feminist movie for adults, titled "Barbie," as a strategy to increase the sales of toy company Mattel Inc. Topics discussed are success of the Barbie doll that helped create an expectation of growth and corporate stewardship for female empowerment, problems faced by Mattel with its Project Dawn project, potential of the film and brand to affirm values of inclusivity, diversity and empowerment.

The article shows the strategies financial services company Wells Fargo & Co. in developing and marketing products and services tailored to Latinos. It highlights the holistic approach of Wells Fargo to servicing Latino customers, its marketing and advertising approach to servicing Latino account holders , and the programs offered aimed at advancing racial equity through Latino home ownership.

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The article discusses marketing strategies to help law firms and lawyers advertise on social media. Topics discussed include marketing on established online social media platforms to reach a target audience, law firms' assessment of what they are trying to achieve in their social media presence, and the importance of content strategy and development.

The article focuses on the growing market for cold furniture in France, driven by European regulations and consumer demand. It highlights the importance of energy efficiency and marketing in the sector, as well as the challenges faced by manufacturers in balancing energy-saving features with attractive designs and customer preferences for open display units, and the emergence of connected and intelligent furniture that enables data analysis for improved performance and marketing strategies.

For decades, Western executives of multinational brands seeking to expand globally have operated under a simple premise: Marketing content and channel selection should be customized to local markets, but Western marketing principles are universal. Firms are particularly quick to export media and ad strategies to developing markets, where advertising and media are more recent developments. Meanwhile, Chinese marketers have developed a unique approach tailored to China’s mobile-first consumer. It relies on the creation of shareable, viral content and the presence of dominant, channel-straddling media giants. It is faster and cheaper and often more effective than the Western marketing paradigm. It also is more embracing of risk. For companies that hope to enter China or grow existing operations there, understanding the Chinese marketing mindset will be essential to achieving success. This article examines the adjustments Western companies must make to succeed in China—and around the world. [ABSTRACT FROM AUTHOR]

The article profiles Mexican-American entrepreneur Daniel Lubetzky and his founding of the food company Kind Healthy Snacks. Topics include his business strategy of social consciousness, his partnership with candy company Mars, and his work fostering peace and diplomacy between Israelis and Arabs in the 1990s.

The article discusses the importance of having a grain marketing strategy for farmers. It highlights the challenges faced by farmers who did not have a plan and were caught in a difficult situation when corn futures prices dropped. The author provides three alternatives for farmers to consider in order to mitigate their losses and advises them to learn more about grain marketing. The article emphasizes the need for farmers to have a plan and knowledge in order to navigate the volatile market effectively. [Extracted from the article]

The article focuses on pasta manufacturer, Panzani's strategic expansion into the fresh pasta market. It aimed to leverage its strong brand recognition and consumer loyalty to capture new market segments and attract additional consumers in France. It also implemented a comprehensive marketing strategy, including promotions and advertising campaigns, to support the successful launch of its fresh pasta range.

The article discusses various opinions and concerns from different individuals regarding different car brands and models. One person mentions Lancia's new Ypsilon petrol mild-hybrid and how its rear lights resemble those of the iconic Lancia Stratos sports/rally car. Another person expresses concern about the direction Jaguar Land Rover (JLR) is taking with their super-luxury cars and pure-EV Jaguars. A third person questions the accuracy of the Driver Power ratings, citing their own experiences with different car manufacturers. Another individual criticizes Volkswagen's decision to go all-electric, citing the issue of charging without a driveway. Lastly, someone criticizes the design of the VW ID. Buzz GTX, comparing it to a "near-three-tonne Smeg fridge." The article includes a photo showcasing Lancia's heritage. [Extracted from the article]

A recent study conducted by researchers at the Agricultural University of Athens explores the role of digital marketing in the agri-food industry. The study found that enhanced digital marketing performance leads to more efficient advertising campaigns, resulting in reduced advertising costs and increased resource efficiency. The researchers collected web analytical data from five established agri-food firms and used linear regression, correlation analyses, and fuzzy cognitive mapping modeling to analyze the data. The study concluded that increased traffic through search sources is associated with reduced advertising costs, and allocating funds for social media advertising can lead to higher expenses and a higher website-abandoning rate. The researchers suggest that successful management of the balance between product costs and profitability in the agri-food sector involves increasing the use of search sources and reducing the use of social media sources. [Extracted from the article]

A reprint of the article "Content Is Crap, and Other Rules for Marketers" by Greg Satell, which was published on HBR.org on October 30, 2015, is presented. It is suggested that marketers think more like publishers. Topics of discussion include building ongoing customer relationships, metrics versus meaning and mission, and publishing as a product.

Is AI for content marketing right for you? Find out how to leverage AI for better content and higher engagement. [ABSTRACT FROM AUTHOR]

The article discusses the "Gift Card and Incentive Cards Market Intelligence" report offered by ResearchAndMarkets.com. The report provides detailed analysis of the gift and incentive card segments in 40 countries, including market size and forecast, targeting strategies, consumer behavior, and market innovation. The report covers both open loop and closed loop prepaid gift cards, as well as corporate incentive cards. It also includes information on market dynamics, benchmarking, consumer attitude and behavior, retail spend, and innovation and market strategies. The report aims to help businesses understand market opportunities, develop strategies, and gain insights into consumer behavior and market attractiveness. [Extracted from the article]

The article features billionaire Hussain Sajwani, who is labelled as the Donald Trump of Dubai, United Arab Emirates. Topics include Sajwani transforming the desert skyline with luxury apartments and lavish mansions by using outrageous marketing strategies, such as offering free Lambroghini luxury cars. Also mentioned are the billionaire surviving the 2008 market crash and the politics of his business partner, Donald Trump, as well as how he caters to buyers at a time of global volatility.

The article discusses the surging demand for sports fashion in China and its impact on the consumer landscape. It highlights the shift towards niche sportswear becoming an integral part of China's fashion scene, with brands like Arc'teryx and Salomon gaining popularity among trendsetters. The rise of athleisure, driven by factors such as increased health awareness and social media promotion, has led to significant growth in the outdoor apparel market. Domestic sportswear brands, like ANTA, are also competing with international brands for market share and are focusing on product innovation and effective marketing strategies. [Extracted from the article]

The article focuses on effective law firm marketing strategies for 2023, emphasizing the significance of websites and the need for a conversational tone. It also announces the discontinuation of the Of Counsel 700 Annual Survey of the Nation's Largest Law Firms, which formerly provided extensive data on law firm sizes and served as a reference guide for the legal industry.

The article discusses research concerning a pricing and marketing strategy in which managers utilize prices slightly below round numbers in order to create a perception among consumers that items are less costly. According to the article, however, such a strategy discourages consumers to decide to upgrade purchases.

This article from Writer's Digest features an author spotlight on Mel Walker, a male romance author. Walker discusses the benefits of self-publishing, including the ability to write in multiple series and collaborate with other authors. He emphasizes the importance of networking early in an author's career and shares advice on creating compelling characters. Walker also discusses his marketing strategy, which includes social media, author newsletters, paid promotions, and reaching out to podcasters and author streaming platforms. The article concludes with a list of awards and recognition that Walker has received. [Extracted from the article]

This article from Decanter discusses the decline in popularity of Bordeaux wines and the author's perspective as a younger wine enthusiast. The author argues that affordable Bordeaux wines are often generic and uninteresting, and that the more unique and affordable options can be found in other regions such as the Rhône. The author also criticizes Bordeaux for its high prices and marketing strategies that cater to a lifestyle that many younger people cannot afford. The author concludes by expressing optimism about finding better-value wines that align with their generational priorities in other regions. [Extracted from the article]

The article discusses that Greg Siskind, immigration lawyer on how lawyers use social media as marketing strategy source in the U.S. It explores the areas of immigration law including business and employment; removal and asylum; family immigration. It discusses that how Siskind's Twitter activity boost his business.

The gap between marketers’ aspirations and what their organizations can accomplish creates intense pressure to reshape how marketing is done. In recent years some leading companies have developed an innovative approach that focuses on the seams between marketing and the other functions it interacts with--the C-suite, IT, sales, finance, and so on. It is at these seams that communication most often breaks down and processes stall. Typically, three categories of marketing-related decisions cross organizational seams: strategy and planning; execution; and operations and infrastructure. When marketing works closely with other units to execute key decisions, it can get things done far more quickly and effectively than in the past. But divergent assumptions or a lack of alignment and shared commitment between functions can get in the way. When the authors asked people in marketing and other relevant units what roles they played in a decision, the answers were all over the map. In a classic example, both marketers and product developers in one automaker’s European division believed that they had the final say on which features to include in a new model. The authors provide a tool for revamping the decision process at the boundaries between functions and describe how Target, Nordstrom, and other large companies have identified important decisions at the seams and increased the impact of their marketing organizations. [ABSTRACT FROM AUTHOR]

Though social and digital media are rapidly transforming marketing and new tools emerge daily, in most firms the organization of the function hasn’t changed in 40 years. How should marketers revamp their strategies, structures, and capabilities to meet the new realities? To find out, the consultancy Effective- Brands and its partners conducted a study involving 10,000 marketers from 92 countries, which examined what separated high-performing marketers from the pack. High performers, the study showed, excelled in three areas: integrating data about what customers are doing with an understanding of why they are doing it; communicating a brand purpose (the functional, emotional, and societal benefits of the offering); and delivering a “total experience” to customers. To provide this kind of experience, high performers break down silos and enlist the help of the entire organization. That means they must link marketing strategy tightly to business strategy and to other functions; inspire employees across the company with the brand’s purpose; focus and align around a few key priorities; set up nimble, cross-functional teams; and build internal capabilities through extensive training at all levels. Surprisingly, few companies have been able to put all these pieces together. Only half of even high-performing organizations excel on some of these capabilities. But that shouldn’t be discouraging; rather, it just illuminates where there’s work to do. [ABSTRACT FROM AUTHOR]

Small and midsize companies that want to expand abroad often face a daunting task: finding the sweet spot between multinationals, with their extensive resources and economies of scale, and the smaller players in the foreign markets, which have an intimate understanding of local conditions. The more than 75 Israeli companies that have transformed themselves into global players in the past four decades prove that it can be done. Their approach: Focus on countries and regions that offer an opportunity that multinationals don't find attractive and local companies can't adequately address, and then penetrate this middle ground in ways that won't immediately trigger a response. Given the size of their home market and their limited opportunities in the Middle East, Israeli companies have not had many other options for pursuing growth. The stories of three Israeli companies--Netafim, Teva Pharmaceutical, and Amdocs--illustrate tactics for seizing the middle ground: Evade the giants, disguise yourself as a local, and focus on weak spots [ABSTRACT FROM AUTHOR]

The value of many products and services rises or falls with the number of customers using them; the fewer fax machines in use, the less important it is to have one. These network effects influence consumer decisions and affect companies' ability to compete. Strategists have developed some well-known rules for navigating business environments with network effects. "Move first" is one, and "get big fast" is another. In a study of dozens of companies, however, the authors found that quite often the conventional wisdom was dead wrong. And when the rules failed, the reason was always the same: Companies trip up when they try to attract large volumes of customers without understanding (1) the strength of mutual attraction among various customer groups and (2) the extent of asymmetric attraction among them. Looking at examples such as TripAdvisor, Wikipedia, and the New York Times, the authors offer strategies for competing in markets with network effects. New entrants should focus on customer groups that they are uniquely positioned to serve or appeal to the most attractive customers in a market. Incumbents pursuing growth strategies in adjacent markets or new geographies should consider how similar the needs of new customers are to those of existing customers. Offering complements also allows incumbents to reach additional customer groups. [ABSTRACT FROM AUTHOR]

For decades, businesses have sought competitive advantage in "upstream" activities related to making new products--building bigger factories, finding cheaper raw materials, improving efficiency, and so on. But those easily copied sources of advantage are being irreversibly eroded, and advantage increasingly lies "downstream"--in the marketplace. Today the strategic question that drives business is not "What else can we make?" but "What else can we do for our customers?" This new center of gravity demands a rethink of long-standing strategy principles: First, the sources and locus of competitive advantage now lie outside the firm, and advantage is accumulative-rather than eroding over time as competitors catch up, it grows with experience and knowledge. Second, it's no longer about having the better product but about how you position yourself in the market and which companies you choose to compete against. Third, the pace of change in markets is now driven by shifts in customers' purchase criteria rather than by improvements in products or technology. INSET: How Cialis Beat Viagra. [ABSTRACT FROM AUTHOR]

Abstracts are presented to articles published in this issue including "How Google Sold Its Engineers on Management," "When Marketing Is Strategy" and "Why Conglomerates Thrive (Outside the U.S.)"

Companies in developing countries are often so focused on chasing growth that they fail to invest in improving their innovation, operations, and brand management. So despite enormous reach and revenues in the billions, they're unprepared when demand growth slows and competition from increasingly savvy developed-world multinationals intensifies. The once high-flying Chinese automakers BYD and Chery have landed hard. In contrast, another automaker, Great Wall, and the appliance maker Haier have won early competitive advantage. In their efforts to compete, emerging-market companies should consider four stages: (1) Seize the moment and invest in the basics, such as payroll, finance, factory operations, and employee management. (2) Build strength by learning (through licensing or contract manufacturing, for example) from established companies. (3) Scale and consolidate, keeping product lines and markets relatively narrow. (4) Move up and out, with a strong portfolio of brands, innovation capabilities, advanced technology, marketing, and sales. INSETS: How One Chinese Car Company Came Up Short;Great Wall: First Stronger, Then Bigger. [ABSTRACT FROM AUTHOR]

The article reports on the market performance of American plant-based meat substitute producer Beyond Meat Inc. in China. Topics discussed include the market strategies launched by the firm after entering China in 2020, the business challenges faced by the firm in the region during the coronavirus disease 2019 (COVID-19) pandemic, and the recorded decline in the share price of the company in 2023.