Marketing Maxims for Today's Challenging TimesWritten by Lee Traupel
These are turbulent times for all businesses - necessitating streamlined marketing processes that are finely honed to mesh with today's sputtering global economy. 1) Don't stop advertising because economy is sluggish - increase it, as many of your competitors are foolishly slowing down and you can grab market share! Look at what Dell has done to Gateway in last eighteen months – Gateway has lost 10-20% of their market share and are pulling in their horns, while Dell's slice of pie has grown bigger. 2) Negotiate aggressively with media sources – its tough right now for online and offline publishers to generate advertising revenue and they are being forced to consider any and all deals. Note number of "house ads" being run by major portals like Yahoo and Internet.com, 20-30% of their banner ads or sponsorship buttons are promoting their own businesses. 3) It's no secret that many ecommerce sites look like Amazon.com – it pays to mirror existing market leaders' web site design. People always resist change and familiarity is one of key reasons why they shop on and offline in same stores. 4) Niche marketing has almost become a homily – but it enables your company to leverage your marketing expenditures and R&D costs by concentrating on a narrow market segment. ToolLogic, Inc. (www.toollogic.com) is a wonderful example of a company that created/found a niche and then dominated it. 5) What's unique about your company, services and/or products? When you understand this you've just created "brand uniqueness" – make sure you integrate these themes with all of your marketing; customers need to know what's different about your company versus your competitors. Ben and Jerry's Ice Cream (www.benandjerrys.com) did a wonderful job of developing brand uniqueness in a commodity market (ice cream) that enabled them to build a great company.
| | Made in … More Than a Manufacturing StatementWritten by Martin Lindstrom
Imagine that I told you of a product, but that it was one about which I knew nearly nothing: I didn't know what its price was, what any of its unique features were or even what type of product it was. But imagine I did know product's country of origin. Let's, just for fun, say product was from Switzerland. Now, what would your impression of this product be? I bet, even now, as part of this hypothetical situation I'm posing, be able to tell me something mystery product's likely price level, its probable quality and reputation it most likely enjoyed. Such assumptions would be inspired by preconceptions you, as a consumer, hold about country in question. Country branding means much more than adhering a "Made in XXX" label to a product. Origin constitutes an important piece of branding which, in many cases, can be so influential that it overtakes brand's other reputation builders. If I were to tell you that next supercar were to come from Germany, you probably wouldn't be surprised. You would probably be immediately curious about it, expecting fictional vehicle to be of high engineering and design quality, expensive and solid. Now imagine I did surprise you by revealing that forthcoming supercar was actually to be a product of Greece. Your impressions of likely product would be totally changed, your assumptions inspired by apparent personality country of origin communicates to your perceptions. Have you ever wondered why every perfume bottle is accompanied by packaging that bears banner "Paris, Milan, New York, Rome, London"? I'm sure you don't really expect perfume to be produced all those places. Now imagine perfume's catalogue of cities read something like "Prague, Helsinki, Melbourne, Seattle, Oslo, Auckland". I guarantee your first impressions of both versions of same article would be coloured by suppositions you made about their two proclamations of notional affiliation. Quite ironic when none of us believe for a minute that any of cited locales have anything to do with product's manufacture.
|