Conducting Competitive Comparisons – It’s the Context That Matters

Susan McIntyre

“When you are content to be simply yourself and don’t compare or compete, everybody will respect you.” –Lao Tzu, founder of philosophical Taoism 

While this is advice to consider from a personal perspective, comparing your business performance to that of your competition is a common and necessary business practice.  Successful businesses regularly evaluate their business performance, including product and service performance, to that of their competition to identify areas of strength and improvement as well as future opportunities. This comparison includes obtaining critical feedback from customers and, in many cases, other business stakeholders, often through formal customer experience measurement.

But what is the best approach to comparison? 

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The Rise of Wellness Incentives

Aaron Turner

We don’t know where the Supreme Court will land on Healthcare Reform, but there are many “reforms” across the healthcare industry that are already underway.  Much of the current activity aims to improve health outcomes, but in a much more efficient manner. 

Consider this: the US dedicates nearly one-fifth of our GDP to healthcare spending, roughly $8,000/person each year and growing. This is more than 50% more per person than any other country. Yet, in terms of life expectancy, we are only 34th on the world list, behind many countries that spend far less each year. With healthcare spending continuing to outpace overall inflation, it is no wonder that the word “unsustainable” is bandied about so freely. The reasons are numerous and increasingly well understood, but perhaps most notable among them is this simple fact: efficiency aside, we’re really good at treating illness in this country, but we’re really bad at staying healthy in the first place. 

Enter wellness incentives.

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10 Signs You’re Passionate About Market Research

Emily Sippola

For working parents like me, every single day is an endurance event. My day starts early enough to hit the gym before getting my kids washed, dressed, fed and out the door, and it ends late enough that even I sometimes forgive myself for hitting the snooze button. By the time I start work for my paid employment, I have been on the go for three hours, and I’m ready to sit, relax and do some market research.

My friends used to laugh about how much I love my job despite the long, hectic days before and after work, but everyone around me has come to accept that this is work I love to do. I’m passionate about market research. Are you?

Here are ten ways to know:

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It’s cool: Musings on “cool” in ad campaigns and infographics

Erin Leedy

As someone with a background in industrial design and a specialty in technology research, I have spent a good deal of time thinking about “cool.” There’s always a new, cool product being introduced, a cool TV spot to love or hate, or a cool brand doing something remarkable. Heck, we even had a cool initiative at work a couple of years ago (and, as an aside, let me say that market researchers tend not to be ultra-cool but rather to hold a distinct geeky appeal). Cool is a tricky concept to define, but it can be easy to observe because it stands out—in Chasing Cool, Gene Pressman says that brands want to evoke cool because “cool cuts through. It’s the ultimate point of difference. When brands evoke the characteristic of cool they are more likely to stand out in today’s cluttered marketplace.”

If cool is difficult to define, it’s even trickier to master. A brand just can’t go out and decide to be cool. In fact, I’d argue that deciding to be cool is a very good way not to be cool. To be cool, a brand must have what my colleague Vaishali would call “swagger”—a belief in what you’re doing coupled with a willingness to go to novel places and do unproven things, to fail, and to be disliked. If you think about some of the cool brands that Pressman discusses—Nike, Target, MTV—you can conjure up a bit of of the swagger that I’m talking about.

All this said, when someone claims “cool” in the marketplace, I sit up and take notice. And then I start to critique. Is it a cool brand? Is what it’s doing cool?

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2014 is coming! Counting Down to Healthcare Reform Implementation

Aaron Turner

Two years ago today (I remember because it’s the day before my birthday), President Obama signed into law the Patient Protection and Affordable Care Act (PPACA), also known as healthcare reform. In the blink of an eye, we now have less than two years until the cornerstones of the legislation (health insurance exchanges and the coverage mandate) go online. Or will they? 

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Biosimilars: Are we ready for the next round of generics?

Katy Palmer, Ph.D.

I can still remember as a kid when my mom would pull into the driveway from the grocery store. Being the oldest child, I would help unpack the grocery bags.  With great anticipation, I would search for the cereal …did she finally buy us the “real deal”? To my disappointment, the answer was always no. There I would stand, staring at the A&P generic brand of Cheerios or, worse yet, generic Fruit Loops!

We’ve all had experience with generic food in our lifetime, and  I believe our weariness of generics in consumables bled over to the drug arena. How many people still buy Advil instead of ibuprofen?

This weariness played out in the physician world, too. It wasn’t until 1984 that generic medications became available. Initially, these new, cheaper drugs were met with scrutiny and uptake by physicians was slow. In fact, until the past several years, many physicians required pharmacies to fill only the branded prescription drug. Then the insurance companies stepped in and began dictating the use of generics (for cost savings). Today, most of us take a generic drug when it is available. With this shift, I believe most physicians are now comfortable with generics and agree they are equivalent to a brand. But,  it was a slow process whereby outside payer groups had an influence.

Enter biosimilars, the generics of biological medications. In a time when cost savings is critical and biologics are expensive, many companies are feverishly developing biosimilars.

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Cloud Convenience

Carolyn Ahlstrom, Ph.D.

Cloud Convenience

Why we trust the technology only when we’re not thinking about it

With the introduction of iCloud and a variety of cloud-centered marketing campaigns, the cloud has officially entered the consumer realm. It is touted, and often accepted, as the future of content and device management, but consumers are still wary of trusting their most sacred data to the cloud. Will it get lost? Will the cloud provider be around in 5 or 10 years? Will it get hacked and end up in sinister hands?

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Banks, PayPal Poised for Mobile Payments Success

Ann Graham Hannon

Consumers love how easy their smartphones are to use and like shopping and browsing on them, too.  But when it comes to buying the products they hesitate, wondering if they are leaving a “computer hacker backdoor” into their personal financial information. It’s no wonder.

In light of all the security issues consumers face from cyber-attacks (i.e. Zappos/Amazon), and a recent story that hackers buried their spying devices so deep within Nortel’s internal systems that experts couldn’t find them for years, it’s not surprising that the majority (6 in 10) of consumers worry about the security of their personal financial information when purchasing goods and services on their smartphones. If they buy that cute blouse or high-tech golf driver online, will they suddenly find their bank account empty?  Why take the risk? 

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Who Will Own Memories?

Rob Stone, Ph.D.

I recently wrote about the enduring power of brands, like Girl Scouts, that tell great stories (and thanks, folks, for the cookie orders). Ironically, as I finished writing that blog, I came across the proverbial exception that proves the rule. Kodak, a century-long bastion of American manufacturing, recently filed for bankruptcy. For my kids, Kodak means no more than Studebaker means to me—a hazily familiar brand, at best. But, in its heyday, Kodak’s brand positioning was unparalleled. Any noteworthy or picturesque scene would inspire people to call it “a Kodak moment.” Kodak owned the very idea of “memories”—perhaps the most enviable positioning that any consumer brand could boast. 

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Everything I Know about Sales and Marketing, I Learned from the Girl Scouts

Rob Stone, Ph.D.

Brand strategists observe that successful brands are built on stories that interweave the value of the brand with the consumer’s lived experience. See, for example, Seth Godin’s All Marketers Are Liars, which is not a pitch for deceit so much as an argument that authentic-feeling stories build vibrant brands in a world where consumers are skeptical and overloaded by stimuli. A lot of the brand work we’ve done over the past years has been built around that insight, but I’ve seldom seen its truth demonstrated as clearly as I did last weekend.

My daughter, Anna, recently became a Girl Scout, and cookie-selling season is upon us. (Email me to get hooked up with a box of Samoas.) This was her first foray into the world of sales, and we were excited to watch from the sidewalk as she went door to door, clipboard in hand, with a smile and a sales goal. What followed was a clinic on the power of brand and how the brand relationship is composed of and conveyed by stories.

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