SBP 012: The Laws of Marketing with, Dr. Nicole Hartnett

In this week's show, we welcome Dr. Nicole Hartnett, Senior Marketing Scientist from the Ehrenberg-Bass Institute for Marketing Science. We discuss the laws of marketing, what happens to brands when you stop advertising, how to build strong brands on distinctive assets, and even spend time discussing loyalty myths. Nicole shares a lot of insights that we know you will find valuable! Enjoy the show! ____________ Our Guest: Follow Dr. Nicole Hartnett on LinkedIn: https://www.linkedin.com/in/nicole-hartnett/. Ehrenberg-Bass Institute: https://www.marketingscience.info/  Marketing: Theory, Evidence & Practice: https://www.amazon.ca/Marketing-Evidence-Practice-Byron-Sharp/dp/0195590295/ref=asc_df_0195590295/ ____________ The Sleeping Barber Podcast: Follow our updates here: https://www.linkedin.com/company/sleeping-barber/ Get in touch with our hosts: Marc Binkley: https://www.linkedin.com/in/marcbinkley/ Vassilis Douros: https://www.linkedin.com/in/vassilisdouros/ ____________ Literature: When Brands Stop Advertising: https://www.marketingscience.info/when-brands-stop-advertising/ Marketers' Intuitions about the Sales Effectiveness of Advertisements:  https://www.researchgate.net/publication/304764587_Marketers'_Intuitions_about_the_Sales_Effectiveness_of_Advertisements How Brands Grow: https://www.amazon.ca/How-Brands-Grow-What-Marketers/dp/0195573560/ref=asc_df_0195573560/ How Brands Grow Part 2: https://www.amazon.ca/How-Brands-Grow-Emerging-Services/ Building Distinctive Brand Assets: https://www.amazon.ca/Building-Distinctive-Brand-Assets-Romaniuk/dp/0190311509/  ____________ Timestamps: 1:00 - Intro to Nicole 3:19 - The difference between repertoire and subscription markets 9:34 - Loyalty myths, the law of double jeopardy & why market penetration matters 13:55 - What influenced our fixation on loyalty 16:14 - Law of buying frequencies: why light category buyers are important 22:55 - Time & the illusion of solely loyal customers 26:29 - Penetration, the sustainable root to growth, is driven by mental & physical availability 29:58 - Proof of physical availability - private label substitutions from retailers 32:08 - Reach versus frequency - why reach is non-negotiable and the diminishing returns of high frequency 35:35 - How accurate are these laws? 41:20 - Ads don’t work on me: what happens when brands go dark 50:40 - Building solid brands through distinctive assets 55:20 - What makes a great ad - the Old Spice case study 1:01 - The difference between creativity and branding 1:04:03 - Why Nike needs to reconnect the Name with the Swoosh 1:05:38 - Brand awareness and category entry points 1:08:44 - How to contact Nicole 1:10:00 - Post-Pod discussion with V and Marc