Know: ‘timing is everything.’

that causes a person to think he’s in the groove when he’s actu-
ally in a rut.”
With regard to marketing, too many CEOs see marketing ex-
penditures as just an expense and fail to see that a large part of it is an
investment. There are two types of CEOs: those who know that they
don’t understand marketing and those who don’t know that they
don’t understand marketing.
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Marketing Insights from A to Z

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oyalty
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“Loyalty” is an old-fashioned word describing being deeply commit-
ted to one’s country, family, or friends. It came into marketing with
the term brand loyalty. But can people be loyal to a brand? Tony
O’Reilly, former CEO of H. J. Heinz, proposed this test of brand
loyalty: “My acid test . . . is whether a housewife, intending to
buy Heinz tomato ketchup in a store, finding it to be out of