The New Ways Established Brands Do Battle With Startups
Competition is nothing new to brand marketers who spent every Monday looking at the latest weekly share reports. But over the last five years, category after category and brand after brand has woken up to realize that the competition has changed. Consider that in 2015, Catalina found that 90 of the top 100 CPG brands lost market share over the previous year. While the largest companies were trying to figure out how to use digital as a new advertising tool, a new generation of companies and brands was being started by entrepreneurs that viewed digital as a business model that would give them an advantage versus the scale and budgets of their much larger competitors. In the old world, brands competed with each other head-on, whether that was trying to win at the First Moment of Truth with the largest share of shelf or creating the television ad with the most buzz during the Super Bowl. In this new high-stakes game of business, startups have decided to throw out the old rules. They are not attacking their competitors head-on. Instead, they are disregarding the conventional wisdom of industries and in many cases, redefining markets along the way. Read more at Adweek.
