Eating the Big Fish: How Challenger Brands Can Compete Against Brand Leaders

Morgan explains how "challenger brands can compete against brand leaders." What is a "challenger brand"? In his Preface, Morgan suggests that it is based on eight "credos": 1. Break with the immediate past 2. Build a lighthouse entity 3. Assume thought leadership of the category 4. Create symbols of reevaluation 5. Sacrifice 6. Overcommit 7. Use advertising and publicity as a high-leverage asset 8. Become ideas-centered rather than consumer-centered He discusses each in detail in Part II. Morgan's primary objective is to provide what he calls a "magnetic compass" for Small Fish which will enable them to compete successfully. Obviously, they face problems: certain markets have moved for the first time from maturity to overcapacity; as a result, there is not enough "food" to go around; and while turning their attention downward, the Big Fish have also turned outward...toward Small Fish; as the Big Fish moved downward, retailers moved upward. Time and again, he stresses the importance of ideas...actually, better ideas. Hence the imperative to break with the past: assume nothing, take no one and nothing for granted, constantly ask "What if?" and "Why not?" For Small Fish, the status quo is death. Period. Better ideas are engaging, provocative, and self-propagating. They help to create competitive advantages. Think in terms of an ambush: A Challenger brand can attack whenever and wherever least expected. A Challenger brand redefines terms such as "enemy", "opponent", "competition", etc. A Challenger brand has attitude. It thrives when underestimated. Better yet, when ignored. Big Fish know they are Big Fish. They have a tendency to become arrogant, complacent, hence vulnerable. By breaking with the immediate past, the Small Fish is able to answer several critically important questions such as What is the core issue re Big Fish?, What business are we in now?, What business should we be in?, What are our best opportunities?, How can we implement a Challenger strategy to take full advantage of those opportunities? The four dimensions of a Lighthouse brand are identity, emotion, intensity, and salience. As Morgan explains, identity should be self-referential: "This is who we are and this is what we stand for." Challenger brands should establish and then nourish an emotional rather than rational relationship with consumers. Sustainable customer loyalty, not temporary satisfaction, is the primary objective. Moreover, there should be intensity in all communications with consumers. Finally, Challenger brands must attract attention to themselves. In Chapter 9, Morgan observes that "Challenger brands are not somehow unusual in that they have a monopoly on good ideas; they are unusual, however, in that they make good ideas happen." In Chapter 14, he explains that his premise so far in Eating the Big Fish is that "Challengers need their own models of strategy and behavior; that we [who must formulate that strategy] are entirely unlike the brand l

To my knowledge the first book/research study that doesn't fail into the common trap of synthesizing the marketing secrets of the cathegory leaders, that 99% of us are not.In that way a very interesting approach to marketing. That aside the insights presented here are brilliant and relevant. Also Morgan writes in a very enjoyable and lively style, which definitely makes the understanding and digestion easier.All in all an entertaining book about a field that should interest everybody involved in managing or marketing a business. Not bad at all!

I am new to marketing and I wanted a good book on marketing. This one delivers, particularly for challenger brands something that is becomming more apparent in eCommerce. While the book does not talk about eCommerce many of the concepts and thoughts apply. Overall worth reading to learn about branding and marketing.

I'm telling all my clients about this book. If you agree with the following, you'll like it too. "..marketing is not a science but informed judgement...the cover of the book should offer a photograph of Herb Kelleher, dressed as his occasional business alter ego, Elvis Presley, with the title 'Does This Man Look Like a Scientist?'"Great exercises to get you thinking, no matter if your brand is a leader or an also ran. e.g."Grove" named for Andy Grove- "Fire ourselves- leave the building and come back in as an entirely new team. What's one thing you would stop doing and one thing you would do instead?" Morgan punches holes in conventional wisdom- mission statements, focus groups, etc. A favorite quote: "The key failure, then, for any company attempting to effect a gear change in its own performance is not the ability to define its intention, but the inability to translate intention into behavior."

I read it in one sitting. Apart from being extremely well written and entertaining it is brimming with new ideas ..that can actually work!Highly recommendable to anyone in the fields of Marketing and Advertising, including Education...