Hi everyone. I’m Jodie. I’m the MD at Tiny Hunter. Now, building a strong brand takes time. It takes a lot of time and effort. You’ve got to be super consistent to get it right. So you might want to make sure that you’ve got the right positioning to begin with.
Scott Galloway is a well-known professor of marketing at NYU and he has got the three hurdle stress test, which I wanted to share with you today.
So the first point is, is it relevant? So, who’s your audience? Is the market big enough? Do they care? Obviously, you need a relevant product or service.
The second one is, is it differentiated? So how are you distinctive? How do you stand out from your competitors so that you can really connect in a meaningful way?
And then, the third point, which is very important is, is it sustainable? You might have something relevant, you might be differentiated, but it might be in a way that’s very easy to replicate. Which means you put in all this time and effort and then you just get copycats coming in. Very important, is it sustainable?
So there’s the three hurdle test. How does your brand perform? That’s it for me. It’s time for brekkie.