Marketing

COMMENTARY
7:36 am
Wed October 30, 2013

In Restaurants, Everything Matters

Not the REAL fake sugar.

There’s a popular belief that nine out of ten new restaurants fail in the first year. It’s a myth.

A new study by an associate professor of hospitality management at Ohio State has identified a real figure of six. Six out of ten new restaurants fail in the first year. That’s still pretty high mortality, but not out of line with startups in other business categories.

Nevertheless, I think the only business tougher than retail is the restaurant business. There are just so many different reasons why people don’t come back.

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COMMENTARY
9:19 am
Wed October 16, 2013

The Internet Is The Ultimate Market Segmentation Medium

Marketing Consultant John Malmo

No matter what new services or products appear, no matter what tools, concepts, strategies or tactics people dream up, the basic fundamentals and principles of marketing stubbornly remain the same: maximize your assets, discover needs and how to satisfy them, and, of course, segment something. Anything.

Though almost every new business category begins with a broad market appeal, in no time, entrepreneurs segment the market. By price, gender, age, geography ... every way imaginable.

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COMMENTARY
8:49 am
Wed September 18, 2013

Front-Line Managers Make The Difference

Marketing Consultant John Malmo
Credit Archer>Malmo

A wise marketing professor once said that when things go wrong, more often than not, it isn’t because the strategy was bad; it was because the strategy was executed poorly, or, not at all. In other words, nobody made it happen.

William Bonoma at the Harvard School of Business likened it to war. He said, in effect, without a competent, hard-charging sergeant to drive the squad up the hill, no strategy would work.

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COMMENTARY
7:37 am
Wed June 26, 2013

Share Of Voice Equals Share Of Market

The more advertising, the more a category's a commodity.
Credit tillkost / fotolia.com

You wonder why every car dealer TV ad is followed by an ambulance-chasing lawyer ad … is followed by a car dealer ad … is followed by an ambulance-chasing lawyer ad … is followed by . . . you get the point.

Business categories become commodities when consumers no longer identify a meaningful difference between brands. When that happens, the only difference a brand can create is in advertising. Better advertising than others, or, as in most cases, more advertising.

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Commentary
2:30 pm
Wed May 22, 2013

Business Obits Are Often Premature

Just because a business category is shrinking does not necessarily mean it will die.
Credit Charlene Honeycutt / WKNO-FM

Just because somebody tells you that a certain business category is a dying business doesn’t mean it’s gonna die today or tomorrow. People were still making money on Blockbuster stores a decade after the announcement of their demise.

Business categories do, indeed, die. Almost always because of advances in science. Nobody’s making steamships any more.

But some categories that start shrinking aren’t necessarily dying. They’re just getting smaller.

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