by admin | Mar 27, 2015 | Brand, Marketing, strategy
Pablo Picasso was once approached by a fan and asked to draw something for them as a souvenir. He created something in only a few minutes and presented it to the excited fan. Then he added, “That will be $10,000 franks.” The rather shocked fan pointed out...
by admin | Aug 27, 2013 | Brand, Entrepreneurship, Marketing
Price cutting is a lousy strategy. Period. Just don’t do it if you don’t have to. One reason is that price cutting is a game your competitors can play too, and we both know they’re nowhere near your league. The thing is, somebody can always come in...
by admin | Feb 15, 2008 | Marketing
Say it ain’t so! Starbucks has announced it’ll be testing a “$1 Coffee” in some markets this year. This is their idea of a prudent response to the forthcoming economic downturn all the experts are so certain is on its way. They...
by Dr. Burt Smith | Oct 7, 2007 | Marketing, Networking
You’re not! Don’t fall into that trap! Don’t cut the price, build the brand! Competing on price is always a bad idea! I used to say that very few organizations can do it long-term. Then I said that only ONE organization has effectively done it for...
by admin | Jul 31, 2014 | Brand, Entrepreneurship, Marketing, strategy
I know for years now you’ve heard me say plenty of times, “Don’t cut the price, build the brand.” And I’ve given you plenty of reasons to think that way, and several of you have offered some even better reasons in your e-mails and posted...
by admin | Jul 5, 2012 | Brand, Growth, Marketing, strategy
No, I’m not changing my tune. I still say, “Don’t cut the price, build the brand!” I still advocate competing on value rather than price simply because there is always some short-sighted competitor out there who is willing to give away the...
by admin | Nov 8, 2011 | Marketing
Retailers light up when they talk about “Black Friday.” This is the Friday right after Thanksgiving where they offer all kinds of crazy deals and hope to start to show black ink instead of red for the first time during the typical year. I’ve already...
by admin | May 26, 2009 | Marketing
As you probably recall from previous posts, discounting isn’t one of my favorite marketing strategies. In fact, one of the Burtisms I emphasize in my ECHO Marketing program is, “Don’t cut the price, build the brand!” I will urge you in the vast...
by admin | Nov 3, 2008 | Marketing
Jim Cramer recently had an insightful interview with the CEO of Panera Bread. Click here for the video. Great lessons here that we’ve talked about in previous blogs. You can click these links and revisit: Don’t cut the price, build the brand! Give yourself...