November 18, 2004
News & Opinion: Time to Revitalize!
Stuart Elliot wrote a great article about the need to revitalize brands. Seth Godin got it right when he says The way to grow is not to spend more money on advertising, but by inventing things that are remarkable enough to meet unmet consumer desires that people buy because they want to, not because they're being sold to." Godin uses Whole Foods as an example of doing something remarkable. I have to agree. Its great to be remarkable, but what does that actually mean? I live in Boulder, Colorado, ground zero for the natural foods market and home of Whole Foods biggest competitor, Wild Oats. Both of these companies are remarkable because they are relevant and very good at listening to their customers. They have become information companies, defining what is healthy and good for you. It is this deep connection with their customers that makes both companies successful, giving them the ability to make an above average profit.