Founder and CEO of House of Brand Group, Peter Drinkwater, joins the podcast to talk brands and market research. We discuss:
- Peter’s career to date
- How to value a brand
- The definition of a brand: stored future value and product or services with a personality
- Spice Girls marketing: the importance of having authenticity and personality
- Brand differentiation: the cultural and social factors that impact brand relevance and difference, beyond product functionality
- Why the emotional value of brands will continue to be the differentiator, despite the emergence of technology that enables more rational decision making
- The barriers to AI: the elements of trust, humanity and emotions
- Self-expression: why males need brand labels more than females
- Stuff vs time: why people will pay more for experiences for things they can do, due to perceived shortages of time
- How consumers are demanding more from brands, from product trade-offs to customer service
- The importance of understanding the consumer need for innovation
- Polls and measuring intent: consumer motivation/intent and why the polls got Brexit and Trump wrong, through asking the wrong question of “who are you going to vote for”, rather than the motivational based “are you going to vote?”
- Peter’s views on segmentation
- Millenials and collectivism: why Millenials are a more collective culture, shown through their preference for the impersonal platform Facebook rather than the individuality of MySpace
Great to get Peter’s valuable insight on brand marketing and research. Well worth a listen for those marketers trying to crack the customer code!
Peter can be found on LinkedIn.
Peter recommends reading The Customer Delight Principle by Timothy L. Keiningham and Terry Vavra.