This week I have shared two examples highlighting the power of infatuation, first with an article on the airline industry followed by the article entitled “How much love for the Colonel is too much?” Here is why: When you think of yourself as being in the business of providing lifestyle enrichment and strive to infatuate consumers you can stay continuously relevant to a broad audience.
What are the key takeaways?
1. In order to infatuate, strive to be the provider of your consumers’ favorite offering. Once you achieve that, you have a hold on their attention and affection and can widen your offering palette across market spaces and industries through a brand tied to your central offering.
2. Consumers have a capacity to form only a limited number of close, emotional associations with brands and offerings from among all those they come into contact with. You want to make sure that yours is one of them.
3. Being relevant is more important than being best or being biggest. Counterintuitive to such managerial concepts as relative market share or operational excellence, it is not enough to have an efficient organization or to be the biggest or best within a traditional market segment. Instead, you need to continuously scan the horizon and shift course to stay relevant. In fact, being biggest or best may be a hindrance, because it impedes your ability and inclination to adapt quickly.
4. In order to stay relevant in a fast and continuously changing environment, you need to be market driving rather than market driven. Market driven, no matter how responsive, is a reactionary stance. In contrast, market driving is proactive, creating spaces of lifestyle enrichment that did not exist before.