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Advanced SearchDon't let big data bury your brand
The credit card giant Capital One is known for its pioneering use of
marketing analytics and big data, so it might be surprising to learn
about its recent realization: that too much reliance on those tools had
left it without a meaningful brand. The authors explain how the number
one job of the CMO—to strike the right balance between promotions that
goose revenue in the short term and brand-building campaigns that
support healthy margins in the long term—has become dramatically harder
in the age of data-driven targeting. Capital One got its own wake-up
call when its CEO, Rich Fairbank, commissioned a brand equity study. The
research revealed that the company was overwhelmingly known by
consumers for just one attribute: “They send me lots of mail.” Efforts
to strengthen the brand and give Capital One a stronger foundation for
future growth yielded five lessons—all learned and refined through
conversations with other marketing executives, including Tony Pace, of
Subway; Mark Addicks, of General Mills; Tariq Shaukat, of Caesars
Entertainment; Russell Weiner, of Domino’s; and Jim Speros, of Fidelity,
as they dealt with the same tension in their very different
organizations. [ABSTRACT FROM AUTHOR]
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Penerbit | Harvard Business School Publications : Boston., November 2015 |
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p. 78 - 86
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0017-8012
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