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 Today's advice comes from Radio Shack's Chief Marketing Officer Lee Applbaum's interview with Forbes: "We were a store for batteries and parts, which means that we were completely commoditized," Applbaum says. He says his team started going through reams of research before realizing it was useless: “We literally set it on fire." Instead they set up focus groups to make people reconsider their view of Radio Shack. The term "The Shack," emerged voluntarily from consumers while describing the shop. “When an iconic brand becomes a friend," Applbaum says, “the name often becomes a nickname -- Coke, Bud, Mac, FedEx." Want your business advice featured in Instant MBA? Submit your tips to tipoftheday@businessinsider.com. Be sure to include your name, your job title, and a photo of yourself in your email. Please follow War Room on Twitter and Facebook. | | | | | | | |
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