KnowThis Blog Postings

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Published on December 03, 2012

Posted by Paul Christ

It is about time all marketers finally accept the way technology is changing how their customers make purchase decisions.  Specifically, marketers must understand and embrace the realization that the combination of Internet access and mobile device applications has led to a society of Connected Customers, who seek information, shop for products, and converse with others in ways that are far different than how customers performed these activities just a few years ago.

Yet, surprisingly many companies have not developed a rational strategy to address how their customers have changed.  Considering the Internet has been used effectively by marketers since 1994 and mobile devices have evolved to become an indispensable communication tool, any organization without a strategy to utilize these for marketing is likely missing significant opportunities, while also opening the organization to potential threats.

In this special two part series, we discuss 10 reasons why marketers must make the Connected Customer a vital part of their overall marketing strategy.  In Part 1, we examine reasons 1 through 5.

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Published on November 23, 2012

Posted by Paul Christ

Hostess Gets OK From Judge to Liquidate (USA Today)

By now, most people have heard about the demise of Hostess Brands, whose products include Twinkies, Wonder Bread and DingDongs.  The news has left many consumers wondering how this could happen to such well-known products.  And some consumers, who have a strong connection to the brands, have even adopted a hoarding mentality and are stocking up as they fear the product will no longer be available.

While consumers may mourn the loss of one of their favorite products, from a business perspective it seems highly unlikely these products will be gone for long.  This is due to the power of brand names and the equity these provide.   As we discuss in our Product Decisions tutorial, brand equity refers to the financial value a brand holds simply based on its name, symbol or other identifying characteristics.  For instance, some brands are so recognizable that the rights to the name alone could be worth billions of dollars.

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Published on November 09, 2012

Posted by Paul Christ

Wal-Mart to Offer Black Friday Deals Earlier on Thanksgiving (Los Angeles Times)

The idea of turning the day after Thanksgiving (a.k.a. Black Friday) into the unofficial start of the Christmas shopping season can be traced to at least the late 1800s and early 1900s when retailers used promotional methods to attract customers to their stores.  The most famous of these promotions is the Thanksgiving Day parade that several retailers introduced.  While the most famous is the Macy’s parade, which started in 1924, the first retailer to use the parade as promotion was Philadelphia retailer Gimbles, whose parade was first run in 1920.

Despite these early promotions, it has only been within the last 30 years that Black Friday has evolved into the significant promotional event it is today.  The evolution of Black Friday to being an important shopping day for many retailers has grown rapidly in that period.  For instance, retailers would begin the Christmas shopping season by promoting an early opening on Black Friday, such as 6 am.