Transcript
A (0:00)
Nerd Alert. Learning is important, right?
B (0:02)
Yes, exactly. What a bunch of nerds.
A (0:04)
Nerd alert.
B (0:06)
Marketing Architects. Hello and welcome to the Marketing Architects, a research first podcast dedicated to answering your toughest marketing questions. I'm Elena Jasper on the marketing team here at Marketing Architects, and I'm joined by my co host. Rob Demar is the chief product architect of misfits and machines.
A (0:22)
Hello.
B (0:23)
We're back with your weekly Nerd Alert. Every week, I'll take a deep dive into academic marketing research and translate its complex ideas into simple, understandable language for Rob, and of course, for all of you. Are you ready to nerd out, Rob?
A (0:34)
I entered the cheat code. Maximum nerd.
B (0:37)
All right, let's get into it. As always, we'll link the research we cover in the episode notes. This week, I read a study titled the Underdog the Marketing of Disadvantage and Determination through Brand Biography. This is by Niur Peharia, Anat Kinan, Jill Avery, and Juliet Shore, published in the Journal of consumer research in 2011. But before we get into things, Rob, quick question for you. What brand do you think has the best underdog story?
A (1:04)
Oh, for sure. Netflix. I mean, what a great story. Started out as DVD by mail. Blockbuster basically laughed Reed Hastings out of the boardroom when Reed Hastings offered to sell Netflix to Blockbuster. What a big mistake. For 50 million bucks, too. It's crazy. That's like the cost of one episode of one of their streaming shows now, right?
B (1:29)
Is there a movie on Netflix versus Blockbuster? There probably will be one day.
A (1:33)
There should be if you haven't listened to it. Another podcast out there, Business wars, does a fantastic series on Blockbuster versus Netflix.
B (1:43)
I love that podcast. That's a good, good one to listen to. All right, well, great example. This research digs into underdog brands and why they are successful. So across cultures, we are drawn to underdog stories. Think about David versus Goliath, Rocky Balboa, Harry Potter, which I thought was a fun. I'm like, oh, I guess Harry Potter was an underdog. Think of that as underdog story. But sure, brands are picking up on that, too. Think of Apple's famous garage origin story and the number of brands even. Like Rob mentioned, the researchers call this an underdog brand biography. This is a story that brands tell that combines two different factors. The first is an external disadvantage. So maybe the brand lacked money, connections, resources. And the second is passion and determination. The founders pushed ahead anyway, fueled by grit and big dreams. Together, those elements form what the researchers call the underdog effect. Rob, do you think being perceived as an underdog helps a brand perform better.
