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I'd recommend zero equity brand strategies for the simple reason that marketers who know how to run risky brands are too rare to form the basis of a strategy. If you happen to hire one of these rare people the risk taking should be tailored to their individual strengths
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Outrage etc. are tactical elements in particular marketing situations. How much you play with that particular fire depends on how skilled you are at handling that particular pattern of risk exposure.
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I think the fast food chains have been getting good at the game slowly, trolling each other and occasionally the consumers. Most of the good examples are in political brands where the downside risks are mitigated because you don't care about the other half of the voters anyway.