#25 Byron Sharp - how marketing really works

Byron Sharp is one of the global leaders in marketing research and the author of the best-selling book ‘How Brands Grow’. We discuss the myths and realities of effective marketing, covering topics like customer acquisition, the effect of advertising, and loyalty programs. (0:00) Introduction and 'How Brands Grow' (2:35) Using science to identify law-like patterns in marketing (6:06) Is it more profitable to retain customers than to acquire new ones? (11:00) Do loyalty programs actually work? (16:20) Segmentation, targeting, and the reality of buying personas (19:41) Making smart media choices (21:52) Why price promotions don't work (24:33) Does every brand need a higher purpose? (29:24) McDonald's and differentiation vs. distinctiveness (36:45) How marketing really works (45:17) Crafting the right message Learn more: https://generogrowth.com/ https://www.marketingscience.info/ https://www.linkedin.com/in/professorbyronsharp/