How to be a challenger brand: Build a cult
So what makes a brand exciting, sticky, and cool?
'Challenger brands' from Red Bull to Mountain Dew and KIND Healthy Snacks all share certain characteristics, Tyler Ricks, chief marketing officer at Peet's Coffee, told delegates.
"It's a psychology, deep in the DNA," he added: "Is the Dodge Challenger a challenger brand? No. The real challenger in the car category is Tesla."
So how do you build a challenger brand?
Said Ricks: "Have a point of view.. lead with yes...reach for the stars... play offense [not defense]... build a cult and run scared [looking over your shoulder every now and then is a sign of strength, not weakness]."
