Sunday, May 10, 2009
AdvERtisiNg
Advertising is a huge component of marketing. It takes up a huge chunk of income and shows how much a company really wants to invest in getting themselves out there. Advertising costs money and in times like these, people and companies are cutting back on spending due to lack of profits. However, it is a vicious cycle. The less you promote, the lesser people know and the lesser they buy. The lesser they buy, the lesser your profits and the lesser you advertise. In such cases, it is best to take hold of the opportunity, especially if you're not one of the companies who are filing chapter 11. Because then, your company stands out as a survivor and people would come to trust you and your services/products if you advertise efficiently and diligently.
Tuesday, May 5, 2009
Positioning the product..
Positioning is an image, a perception that the market holds about a certain product or a company.
Personally I think I have been enlightened by some beautiful ideas compared to drab ones in the same industry. Certain websites that sell (be it books or gifts or cellphones etc.) have good description but maybe not great price. Some have great prices but they lack in authenticity or detail or in assuring the customer satisfaction through warranties, return policies etc. In today's world, it is becoming more and more important to be wise and efficient and I would only look for places where I get the most value for my money. That is where I would make my purchase.
For eg. I found a site with excellent prices 'and' it was a recognized, credited site! Had I known about it before, I would have made more purchases! However, apart from the prices, what I liked about it the most was how colourful, bold and bright the main headings, product details, prices etc. were. They stood out, were pleasing and easily comprehensible by the brain and made shopping a more fun experience! There was an energy that vibrated through it and that is what emotionally connects with a customer much more than anything else. And this creates an image or rather an intuition of the product within the customer. Next time, they just know it.
Another good example is in the airlines industry. They're all planes. They all fly you whenever and at different prices. But something about VirginAirlines made me want to try it out. Maybe it was how they showcased themselves. The sky-matching colour effects in the cabins, the super kind service etc. But in reality when i tried it out, it wasn't all that great to boot. In contrast, I once flew 20 hours by Etihad Airways (from Dubai) to fly back home. It was just awesome. There was practically a DVR in there. And that too for free! There were around 100 movies and even more songs and tv shows to choose from at any time. Plus, a menu from which I could order at anytime in addition to a snack aisle which was accessible throughout the flight. What an experience. Now I knew that after I tried it, but if they had more of a name and really got out there, they'd be huge!
Personally I think I have been enlightened by some beautiful ideas compared to drab ones in the same industry. Certain websites that sell (be it books or gifts or cellphones etc.) have good description but maybe not great price. Some have great prices but they lack in authenticity or detail or in assuring the customer satisfaction through warranties, return policies etc. In today's world, it is becoming more and more important to be wise and efficient and I would only look for places where I get the most value for my money. That is where I would make my purchase.
For eg. I found a site with excellent prices 'and' it was a recognized, credited site! Had I known about it before, I would have made more purchases! However, apart from the prices, what I liked about it the most was how colourful, bold and bright the main headings, product details, prices etc. were. They stood out, were pleasing and easily comprehensible by the brain and made shopping a more fun experience! There was an energy that vibrated through it and that is what emotionally connects with a customer much more than anything else. And this creates an image or rather an intuition of the product within the customer. Next time, they just know it.
Another good example is in the airlines industry. They're all planes. They all fly you whenever and at different prices. But something about VirginAirlines made me want to try it out. Maybe it was how they showcased themselves. The sky-matching colour effects in the cabins, the super kind service etc. But in reality when i tried it out, it wasn't all that great to boot. In contrast, I once flew 20 hours by Etihad Airways (from Dubai) to fly back home. It was just awesome. There was practically a DVR in there. And that too for free! There were around 100 movies and even more songs and tv shows to choose from at any time. Plus, a menu from which I could order at anytime in addition to a snack aisle which was accessible throughout the flight. What an experience. Now I knew that after I tried it, but if they had more of a name and really got out there, they'd be huge!
Product Placement
I think product placement is a very interesting process. If you really think about it, there is no real way for the target consumer to reach the product unless you place it right where he or she will be able to perceive it.
Let's take for example the iPhone and the new iPod touch. These two have been placed in the market magnificently. Either Apple spend too much on marketing or they're just really good at getting great deals with other companies to get their product exposed to clients of these other companies. Well, Apple itself is big enough that it could make the company its contracting with a huge profit rather than getting some more for itself. But even then, Apple keeps up its name by making sure the iPhone and iPod don't lag behind in sales and 'talk of the town or the moment!'
The iPhone has great adoption. It is compatible with so many things! Except for the carrier, which is only AT&T and Verizon (in future?), the iPhone is compatible with many other things.
For eg. I just read on amazon.com that you can start reading Kindle books on your kindle OR on your iPhone in less than a minute of purchasing it! They didn't say Nokia or Motorola or anything else, just its own Kindle and iPhone. Oh and even iPod touch. Even better.
Let's take for example the iPhone and the new iPod touch. These two have been placed in the market magnificently. Either Apple spend too much on marketing or they're just really good at getting great deals with other companies to get their product exposed to clients of these other companies. Well, Apple itself is big enough that it could make the company its contracting with a huge profit rather than getting some more for itself. But even then, Apple keeps up its name by making sure the iPhone and iPod don't lag behind in sales and 'talk of the town or the moment!'
The iPhone has great adoption. It is compatible with so many things! Except for the carrier, which is only AT&T and Verizon (in future?), the iPhone is compatible with many other things.
For eg. I just read on amazon.com that you can start reading Kindle books on your kindle OR on your iPhone in less than a minute of purchasing it! They didn't say Nokia or Motorola or anything else, just its own Kindle and iPhone. Oh and even iPod touch. Even better.
Subscribe to:
Posts (Atom)