AANA presents the latest episode of Marketing Dividends featuring Adam Morgan, founder of international strategic brand consultancy, eatbigfish, who discusses the evolution of challenger brands and changing behaviour to adapt to today’s market. This was a follow up interview after his key note at AANA RESET.
Morgan penned the book, Eating The Big Fish, in 1999, to examine how brand challengers take on brand leaders, and cause market disruption by challenging conventions.
“The book was written ahead of the digital revolution so the world has changed. It is now much easier for a challenger to find and engage with its customers. People are also realising that as a business, being a challenger is about what you’re challenging, not who. In 1999 it was Adidas versus Nike, or Virgin versus British Airways. Now, it’s Airbnb challenging the conventions of a hospitality business or Spotify challenging ownership of music and finding we don’t need to own music to enjoy it.
Morgan moves on to discuss how limitations can become opportunities, or what he calls “a beautiful constraint.” He references how Virgin America launched in the US against Southwest Airlines, with a limited budget, by turning the interior of an aircraft into a Victoria Secret catwalk.
Morgan touches on the concept of working to constraints to maximise outcomes, regardless of the size of the business. “You need a high degree of motivation that makes you want to do it and that creates the persistence and tenacity. You have to get others to believe that it’s possible by surrounding them with examples of other people that are doing it. And you have to create just enough process and just enough strategy to get them from A to B.”
This episode was jointly hosted by James Hier, CEO MEC and James Daggar-Nickson, Business Editor and Business Channel Manager SKY NEWS BUSINESS. The full episode, in addition to previous episodes, is available on AANA’s YouTube Channel. Don’t forget to subscribe to the Channel to ensure you get updates about new content.