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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Eating The Big Fish summary
How Challenger Brands Can Compete Against Brand Leaders
16 mins
Brief summary
Eating The Big Fish by Adam Morgan is a marketing book that explores how challengers can compete against established brands. It provides case studies and tools for creating differentiated and disruptive marketing strategies.
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Eating The Big Fish
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Market leaders are a force to be reckoned with, but emerging brands can still pose a challenge.
When you were in school, did you ever compete with your peers over grades or in gym class? If you did, this competitive spirit probably led to you coming face-to-face with someone who always seemed to have the edge over you – and the world of business poses a similar situation.
In business, these powerful rivals are called brand leaders. They are established firms with clear competitive advantages over the brands below them, which are known as challenger brands. As a result, leaders naturally enjoy a higher rate of profit than challengers.
For instance, data collected in 2007 by the Profit Impact of Market Strategy, or PIMS, found that the return of an investment placed by a brand leader in Europe is 40 percent, while the rate for the second-ranked brand is just 26 percent.
In the United States, firms put up comparable numbers, with the leader getting a 32-percent return on their investment and the number two brand bringing in an 18-percent return.
Simply put, brand leaders get more bang for their buck. This higher level of profit also means that they invest more and, therefore, make even more profit. They can even invest in long-term projects like researching ways to increase their competitive edge down the line.
But that doesn’t mean that brands in the second position or lower are entirely outgunned – these companies simply need to think differently.
While it’s great to be the best brand on the market, it’s still pretty good to be number two, three or four. Just take the American car rental service, Avis. The company knew it wasn't the leader in its industry; it was clear that their fierce competitor, Hertz, held that title.
In fact, Avis was closer to the rear of the pack. But with an incredible advertising strategy, they managed to climb into second position and close Hertz’s considerable competitive advantage.
And that’s just one example of how challenger brands can strut their stuff. While they might need to work harder and do a bit more to keep up, they can make great leaps through creative approaches.
But before you learn more about the mind-set challenger brands should adopt, let’s take a closer look at the hurdles they face in today’s market.
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What is Eating The Big Fish about?
Eating the Big Fish (2009) gives a strategic overview of how second- and third-tier brands can challenge industry leaders and climb to the upper echelons of the business world. These blinks are full of concrete advice to help emerging brands make a name for themselves in competitive markets.
Eating The Big Fish Review
Eating The Big Fish by Adam Morgan (1999) is a captivating exploration of how challenger brands can compete and succeed in today's competitive market. Here's why this book is worth reading:
- It offers innovative strategies and tactics that empower challenger brands to outsmart their larger competitors and stand out in the market.
- The book provides real-life case studies that showcase the success stories of different challenger brands, providing practical insights and inspiration for readers.
- With its engaging storytelling and insightful analysis of brand positioning, it keeps readers hooked from start to finish, making it definitely not boring.
Who should read Eating The Big Fish?
- Business owners who want to excel in their industry
- Marketing professionals
- MBA students
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Eating The Big Fish FAQs
What is the main message of Eating The Big Fish?
The main message of Eating The Big Fish is about challenger brands and how they can disrupt the market.
How long does it take to read Eating The Big Fish?
The reading time for Eating The Big Fish varies, but it typically takes several hours. However, the Blinkist summary can be read in just 15 minutes.
Is Eating The Big Fish a good book? Is it worth reading?
Eating The Big Fish is worth reading for its insights on challenger brands and how they can succeed in competitive markets.
Who is the author of Eating The Big Fish?
The author of Eating The Big Fish is Adam Morgan.
What to read after Eating The Big Fish?
If you're wondering what to read next after Eating The Big Fish, here are some recommendations we suggest:
- The 1% Windfall by Rafi Mohammed
- Slow Productivity by Cal Newport
- How Brands Grow by Byron Sharp
- 12 Rules For Life by Jordan B. Peterson
- Thinking, Fast and Slow by Daniel Kahneman
- This Is Marketing by Seth Godin
- Unconscious Branding by Douglas van Praet
- The Brand Gap by Marty Neumeier
- What Great Brands Do by Denise Lee Yohn
- The Daily Stoic by Ryan Holiday & Stephen Hanselman