The Impact Multiplier CEO
How to attack a 'dominated' market, with Björn Thorngren (CEO, Meds) (S14E07)
Jun 20, 2024
Björn Thorngren, CEO of MEDS, shares insights on identifying potential in the pharmaceutical sector, building consumer preference against competition, underestimating financial plans, lessons from co-founder resignation, and future goals. Topics include transitioning to online, creating brand recognition, challenges in reaching new customers, and strategies for business growth and market disruption.
38:36
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Quick takeaways
- To succeed in a competitive market, establish a unique brand identity with unconventional marketing strategies.
- Prioritize speed, product innovation, and customer preferences to outpace competitors and achieve rapid growth.
Deep dives
Building a Strong Brand through Differentiation and Branding
To create loyalty and build a successful brand, it was essential to establish a unique identity. Achieving this involved coming up with a distinctive brand name and effectively promoting it. The use of a modern and unconventional brand ambassador, a Eurovision song contest winner, helped break away from traditional pharmacy images and communicate a more innovative and engaging message to consumers.
