Making Triangles: Marketing Positioning for the Social Media Age

ValknutA lot has changed about marketing  in the last decade. And therefore a lot has changed about marketing strategy in the last decade.

But our theories of  marketing strategy have stayed strangely the same.

I have been waiting for a reasonable solution the these challenges for over a decade. And while I have been waiting, I have also been working on a solution of my own.

I have cobbled together what I consider to be the best of existing theory and thinking, and tested it through MBA classrooms around the world with some of the best students in the world. And now I have tried to unify it into one theory, a theory that balances accuracy with elegance to try to answer the following question:

How Should We Analyze Marketing Positioning in this New, Complex, and Multifaceted Age of Many Media (traditional, new, and social)?

The Answer, It Turns out, Is In The Interlacing Tri-Triangular Shape of an Ancient Norse Symbol: The Valknut.

Target is Coming to Town

target2.jpgThe retail consumer in Canada is finally going to catch a break. After putting up with a dreary, outdated, ho-hum retail market for decades, in which retailing has consistently been about 20 years behind its US neighbors, there are changes afoot.

First came Costco. Great success.

Then Wal-Mart. Big success.

Then came the Apple store. Monster success.

Then Victoria’s Secret. Looking gooooood.

Now, Target. Minneapolis, MN-based Target Corp has just announced a deal to acquire the leasehold sites for up to 220 locations from Zeller’s Canada.  They plan to open 100 to 150 Target locations across Canada during 2013 and 2014, after investing about $1 billion in improvements and upgrades. And hiring a load of happy Canadians.

I have been using Target as an example of excellence in branding, target.jpgcustomer service, and retail delivery in my marketing classes for years. They have been outstanding competitors in a tough marketplace, and they have managed to maintain a lower-price higher-quality positioning that has proven nearly impossible for Wal-Mart to beat. As a consumer, I always felt that Target provided a far superior shopping experience to most other retailers, including Wal-Mart. Wal-Mart was about price, Target was about the experience.

I believe that Target has likely come to Canada for a few reasons:

  1. Slowing growth in the domestic US retail market
  2. Fierce competition in the domestic US retail market
  3. Saturation with Target stores in the US (they always stated they were going to saturate the US first before going international)
  4. Lots of cross-border shopping, which would have shown up on their radar
  5. The Canadian economy and consumer market’s resistance to recent economic dips
  6. Stronger than ever Canadian dollar (at par)
  7. Long-term prospects for strong Canadian dollar (petro bucks and the fact that all retail has an arbitrage element)
  8. Canadian dissatisfaction with retail service and choice levels
  9. Weak Canadian retail brands (Zellers? The Bay? Canadian Tire? come on….)target3.jpg
  10. Great brand recognition, awareness, and positive attitude among Canadian consumers towards Target already (who travel frequently to the US)
  11. Target’s convenient format: one-stop shopping for food, clothes (decent ones at that), sports equipment, electronics, toys, small appliances, bedding, kitchenware, linen, furniture, pharmacy and health care
  12. Target is clean. It’s customer service is outstanding.The format of the store, with wide spacious aisles and clear signage, is best in class. The experience–as I said before, and have written about already in some of my retail work–is what Target is all about.
  13. The French pronounciation may or may not have been a deciding element. Repeat after me…Tar GHAY est tres Canadian, eh?

My wife puts it this way: “I feel happy when I shop there.” We have missed the Target retail experience ever since moving to Toronto from Madison. I think that the Canadian consumer is going to richly reward Target for this decision, and the warm and wonderful feelings are going to be mutual. I know in my house we can hardly wait. The slow countdown to 2013 begins. When will they open already? And, oh…

When is The Cheesecake Factory opening in Yorkdale for goodness sake?

Journal of Marketing Appointment Announcement

jm_cover.jpgThis blog is getting some “red hot” editorial news about the State of Marketing Scholarship these days. My last post broke the news about the new editorial team at the Journal of Consumer Research (“JCR”).

And here is a very fresh one about the #1 Journal in the Marketing field.

As many of you are aware Gary Frazier is the editor elect of the Journal of Marketing (or “JM”) and will be taking over in July of 2011 from Ajay Kohli. For a while, Ajay, Gary, and Bob Leone have acted as co-editors of the journal. As with JCR, the manuscripts flows in the main journals in our field have been increasing dramatically, necessitating some editorial action to share the workload.

Gary has decided to change the structure of the Journal of Marketing to one that includes Associate Editors (or “AEs”). I think this is a very smart move. AEs at JM will have considerable latitude to make recommendations, but the final decision will always lie with the Editor-in-Chief, that is, Gary. Gary has appointed 16 AEs, some truly excellent people, and I believe he is looking for a couple more.

marketing_journals_411×211.jpgGary has asked me to be an Associate Editor of JM for his term and I have happily accepted. Thank you for the vote of confidence, Gary.

What this means, I believe, is that the Journal of Marketing is institutionalizing a role and a place for Consumer Culture Theory, cultural, or “qualitative” approaches to practical marketing issues in the field. This is big news. It is something that many of us in the CCT field have been working towards for many years. More top tier options for our publications is important to continuing the institutionalization of CCT work as an important and necessary (albeit minority) component of all Marketing Scholarship, Marketing Education, and Marketing Departments.

At the #1 journal in the Marketing field, we now have, perhaps more than ever before, the promise of a real presence and solidified representation at the top of the field.

I think that a look at the past 7 years of cultural work in JM will show that CCT work is getting more and more applied, and offering increasingly powerful pragmatic insights to the marketing industry.

The move is also presenting  a natural place for all types of social media and social media marketing research. One of my personal goals is to raise the quality and profile of research on social media and social media marketing research.

Officially, these will be the areas of the Journal of Marketing that I will have Associate Editor authority over:

Primary (substantive) content area

Internet and social media marketing

Secondary content areas

  1. Word-of-mouth marketing;
  2. entertainment marketing;
  3. brand and product management;
  4. retailing

Methods: 

  • Qualitative/ethnographic (e.g., discourse analysis, semiotics, phenomenological interviews, metaphor analysis),
  • Other methodological orientations as necessary (I am trained and versed in a variety of different methods)

If you do social media research using qualitative methods, you can pretty much guess who is going to be shepherding your work though JM.

So starting in July I will be looking forward to seeing all your best managerially-oriented work sent to us at the Journal of Marketing. I will do my very best to make sure it gets treated fairly or even better, and to publish the best work to keep our field of Marketing moving steadily forward.