Brand Means Very Little Online
from the spend-that-money dept
A new study is saying that for all the money spent on building online brands, it doesn't really matter. Most people shop entirely based on price anyway. Definitely an interesting study, but I doubt that this means companies shouldn't spend on creating a brand at all. I think for market leaders, like Amazon, it does makes sense, because some people will always just go there. However, for the companies that think they can buy there way to market leadership when they show up late, it's going to be difficult... unless they practically give their products away.
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If I hear another dot com CEO use that "land grab" metaphor I'm gonna puke. Exactly what good is a land grab if: the supply of "land" has no bounds and the criteria that make a good "location" are constantly changing; there is no such thing as a fence that you can erect around your plot of land?
The only brand loyalty that I have as an internet consumer is negative; I'll avoid e-tailers who have given me unacceptable service in the past. How does that play into a marketing department's branding strategy?
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