Be the Best...

Aiming for the best position in your product category is one of the best marketing tools you can equip yourself with.  The 19^th World Travel Awards, voted by worldwide travel agents, have announced the best in the travel and tourism industry.  The winners can utilize their renowned awards as part of their promotional campaigns to differentiate themselves from the rest in the industry.

Here is a sample of the winners:

 

World’s Leading Airline Business Class:                   Singapore Airlines

World’s Leading Airline Economy class:                  Lufthansa

World’s Leading Airline Inflight Entertainment:    Etihad Airways

World’s Most Innovative Airline:                              Korean Air

World’s Leading Budget Hotel:                                 Holiday Inn Express

World’s Leading Ice Hotel:                                         Ice Hotel Sweden

World’s Leading Luxury Business Hotel:                 Radisson Royal Hotel Moscow

World’s Leading Cruise Line:                                     Royal Caribbean International

World’s Leading cruise Destination:                        Jamaica

World’s Leading Honeymoon Destination:            Mauritius

World’s Leading Tourist Attraction:                         Taj Mahal, India

World’s Leading Culinary Destination:                     Peru

 

Are you the best in anything?

Benetton's 'UNHATE' campaign...

 

 

Here is an interesting way to attract customers’…Benetton’s advertising strategy focuses mainly on promoting social causes and ideas, often controversial ones, rather than its fashion products.  The latest photoshopped picture of Barack Obama kissing the Venezuelan president Hugo Chavez is part of the ‘Unhate’ foundation and campaign of Benetton’s in-house ad agency.  Benetton’s sales have been struggling lately and it would really help to invest its advertising budget on promoting its products; however, Benetton insists on promoting social ideas that reflect the brand’s open-minded, multicultural and peace oriented identity.

“Dollar menus” will get you through tough times…

The economic crisis has been embodied in the daily strategic decision making of every corporation and retailer out there. We have to find ways to survive through these hard times.  Sometimes the solution might be easier and more obvious than we think it would be. 

Identify basic needs and wants of your consumers and try to fulfill them at the lowest cost possible.  McDonalds’s identification of people’s basic need for food at a low comparatively cost has lead to the induction and promotion of its “Dollar menus”; this has enabled McDonalds to maintain its current clientele, attract even more and sustain its vitality during the economic crisis. Dr. Ater, a Tel Aviv University researcher claims that McDonalds’ “'Dollar Menu' is an ideal model for corporate success in the times of economic crisis.”

What adjustments are you making to your menus or price lists?

Store mannequins are watching you…

Isn’t marketing all about identificatin and satisfaction of customers needs and wants?  Well, Italian mannequin maker Almax, has discovered a smart way to automatically identify customer demographics!  Almax’s €4.000 EyeSee mannequins, already placed at American and a few European stores, are watching customers with demographic profiling software and transferring data relating to age, gender and race while keeping the data anonymous.  This has enabled retailers to make the necessary adjustments on their store windows, displays and stock to help increase sales and customer satisfaction.  One store adjusted its window displays after its mannequins retreived information on men spending more money than women during a two-day sale.  Moreover, another store placed a Chinese speaking sales assistant at a certain entrance of its store after mannequins granted information that more Asian customers were entering through the specific store door.  Almax is even considering taking its mannequins one step further by adding ears to them…

So, would you use EyeSee mannequins to help you increase your customer satisfaction?

Make money during the economic crisis...

Even during an economic crisis, there is room for niche marketing and potential sales growth.  You can still differentiate and gain a competitive advantage, as long as you target the right segment in the right strategy; emphasize the fact that you can help consumers save or make money, which will, in turn, bring you money!

An ideal example reflecting the above is James Reinhart’s ThredUP online marketplace for children’s used clothing; this 3-year-old business/concept has been excitingly accepted by many parents, who can either make some money out of their kids’ outgrown clothes or save money by buying for their kids, good-conditioned, branded, low-priced clothes.

What is your niche marketing strategy during this economic crisis?

Saying thank you...

Hello and good month to all!

Saying thank you to your customers does not really cost much, and it has the power of increasing the loyalty and return rate of your clients.  Mailing or emailing, personalized, "thank you" cards will make your customers feel special and appreciated.  They will return to you for more..  Evan Carmichael, a motivational and entrepreneurial strategist has performed the "thank you" test to find out that customers not only returned for more purchases to the same company, they even replied with a "thank you" for the "thank you" card...Little things as saying thank you matter. 

Will you make your clients feel special today?

What do Google and Microsoft have in common?

 

 

 

 

What do Google and Microsoft have in common? Well, other than their global success, their logo colors!  Four primary colors in two simple designs!  Simplicity, makes a difference for yet another time in the marketing world.  Do not take me wrong...Global success is not owed to the logo colors, but the logo design and colors could harm the positioning of your brand.  Thus, accompany your targeted, quality product with a simple logo design and  primary colors.  It can make a difference...

Let's go shopping mom!

 Hello to all.  I happened to be looking at an older report yesterday, the 2008 YTV Kids and Tweens Report, while my 2.5 year old daughter was telling me she wanted to go to the supermarket for some candy.  I realized, for yet another time, how powerful consumers kids are from a really young age.  Directly or indirectly, through parents & grandparents especially, kids exert this immense power, the so called “pester power” on their shopping partners who can hardly resist and they end up buying what they would not have otherwise done so.  They are a great demographic target for marketers who invest crazy amounts on psychologists to help them bait these controlling, little creatures; fancy colors, talking characters, cuddly pets, “free” gifts…

Here is a snapshot of the pester power and its influence as on YTV’s Report:

·         Breakfast choices (97% of the time) and lunch choices (95% of the time).

·         Where to go for casual family meals (98% of the time

·         Clothing purchases (95% of the time).

·         Software purchases (76% of the time) and computer purchases (60% of the time).

·         Family entertainment choices (98% of the time) and family trips and excursions (94% of the time). (1)

 

Where are you going shopping today?  My daughter is definitely taking me to the supermarket today...

Can I have some Kleenex and Panadol, please?

Goodmorning to all.  With the weather getting cloder and viruses going around, you will probably find yourself in the situation of asking for some Kleenex and some Tylenol or Panadol, when all you will  really need is some tissue paper and some pain reliever.  All you mothers out there, might have asked your hubbies to get a pack of Pampers from the supermarket, even though, you are actually using the Nannys brand of diapers.  Your housekeeper might have asked for the Hoover, when she actually needs your Bosch vacuum cleaner to vacum the floors.  Or she might be looking for some Tupperware in the kitchen cabinets, when what she is really looking for are some plastic containers to keep food remains.  You might have asked your office assistant for a Coke while you are Xeroxing some documents, when what you really had in mind was  a cola drink while making some copies of your docs.

This is the power of branding...The right positioning strategy and systematic marketing efforts have made the above, and many more brands, synonymous with the product they represent.  These brands hold the highest position in the perceptual map of consumers, thus, they are the first names that consumers will recall and consider when in need or want of the relevant products.

What product will your name become synonymous with?

Supermarket shopping tricks

There is indeed a reason for everything...there is a reason why supermarkets, and stores in general, have their existing layouts. There is a reason why perishables, your milk and eggs for example, are placed at the back of the store; why popular brands are placed at the end of the aisles and at eye level; why batteries, hair accessories and chewing gum are the last items you see by the checkout counters and why candy and little toys are placed at children's eye level.

These old tricks are the reasons for your subconscious supermarket shopping.  Are you going shopping today?  Check for any tricks of the shopping game...

Christmas; Time for extra mileage...

Mid November marks the beginning of the Christmas season for both Marketers and consumers.  Marketers take advantage of the emotions and spirit that Christmas awakens inside all of us and, regarding economical crisis or not, they start inducing feelings of giving and exchanging, feelings of love and care.  Their advertising campaigns subconsiously set consumers in the purchasing and consumption modes of the season.


So, are you going to make your target consumers "go the extra mile" this season?

"Hand Job" Nails & Spa

Dear Marketers!

In the process of developing an effective brand name you should try to come up with one that says something about the qualities or the benefits of your product, company or store.

The "Hand Job Nails & Spa" name, could have been consciously developed or not...  It could have been lost somewhere in an Asian translation or not...However, it is suggesting benefits and services offered by the salon.  Hand treatments for example; maybe not the kind that some potential customers are perceiving them as, but the name is surely attracting customers...

Happy birthday to ...

Hello to all!

What a year this has been...with uphills and downhills, wows and woes. On the positive side of it, a year of  anniversaries and celebrations.  A year of brand anniversaries, too!   Life Savers and Oreo cookies celebrate their 100th anniversaries, Bacardi rum its 150th, Kraft macaroni and cheese its 75th, Motel 6 its 50th, PA College-Cyprus its 30th! 

Anniversary campaigns are a great opportunity to refresh your brand and remind clients of the name they have trusted for a number of decades.  Ensure them through your anniversary celebrations that your quality and other points of difference are guaranteed constants in many more decades to come...Happy anniversary to all celebrants!

Thou shalt not steal...

Apple vs. Samsung.  iPhone vs. Galaxy S smartphone.  iPad vs. Galaxy Tab tablet. What about the aforementioned gadgets?  They are simply competitive products that look very much alike.  Apple is filing lawsuits against Samsung for patent and trademark infringement for its Galaxy product line.  Plainly put, Apple is accusing Samsung for stealing product related ideas; hardware, software, design and even packaging.

Marketers, in addition to the “Thou shalt not lie” Marketing command mentioned in an older post, please obey the “Thou shalt not steal”, as well. Stick to your own points of difference and uniqueness.  Do not steal others’ ideas.  You would not like others stealing yours, either.  Do not waste fortunes on court settlements, when you could be investing that money on human capital for product inventions of your own!

Victoria’s Secret; specialist in sexy underwear

The sexiest undergarment fashion shows. The sexiest supermodels featured in product catalogues. The specialist retail store catering to the target market of sensual ladies.  A world of sexy angels.  Victoria’s Secret, like, any other specialist retail store, owe their success to their specialty, to their area and products of expertise.

What specialty do you have? Use it as a gateway to success…

Volvo=Safety? Maybe not…

Volvo’s customers, existing and potential, have been rethinking its safety guarantees after a series of 2010 Volvo V60 Pedestrian Detection failed demonstrations, where the V60 simply failed to detect a dummy and went straight on to crashing it.  Ironically, Volvo has failed not only the practical tests of safety, but also the tests of customer trustworthiness.  It has always represented safety…Volvo proceeded to improve the pedestrian detection system and has developed the 2011Volvo S60 Pedestrian Detection with successful demonstrations.  The image, though, and customer trust have already been damaged.

Marketers, when you develop your brand mantra, those key words that symbolize your brand and what you are all about, try to truthfully embody their meanings in your products.  Test and retest your qualities before you call the press and the public for a demo of new products to avoid the unavoidable.  There is a fine line between success and failure after all…

Enhance your store’s image and sales

Simple tips and tricks, such as presentation and layout of your merchandise, can help you enhance the image of your store, thus positively influencing your sales volume.  Think of books displayed on bookstore shelves (see pictures below): books with a face-out display reflect specialty selection, exclusive book titles and an upscale, pricey image.  On the contrary, books with a spine-out display represent a higher volume of books and titles, a more ordinary image and priced bookstore.

What image and price would you like your store to have? Present your merchandise accordingly…

 Spine-out

Face-out

The Cola wars

Hello to all!

Comparative advertising, where legally allowed, adds an exciting perspective to the world of advertising for both marketers and consumers.  Comparative ad wars usually take place between market leaders, the number ones of the industries, and market challengers, the number twos of the industries.  “Attacks” are direct, competitor names are visible and the final product choice is in the perception and the pocket of the consumer viewer.  Set your war gaming strategy with creativity and start shooting...

Who are you “fighting” against?

The Beauty of Minimalism

Green Ant's print ad with the look and definition of minimalism got me thinking again and realizing the necessity of minimalism in today's business world and society overall.  Related to a previous post of mine, Less is More, minimalism is an art that needs to be embedded in advertising.  Below are some more examples of minimal printed ads. Enjoy the beauty of minimalism...

Green Ant

Haribo

Pilot

Mirador del Alto

Smells of Success

Hello Marketers and Marketing fans!

Stimulating the senses is crucial when building a brand, setting up a store or developing a product.  Rolls-Royce customers complained about the 1990s model which was just not as good as the old models.  Research discovered that the new car’s smell was to blame.  It did not have that leatherish, woodish distinct smell of the original Rolls-Royce.  Based on that important customer feedback, the company has bottled the original, 1965 Rolls aroma and sprays it in all new models.  The sense of smell induces feelings, draws experiences and memories that accompany the brand.  The compliment of a successful scent can help to recognize and distinguish a brand, boosting at the same time sales.

More smells of success? Baby powder scent at IKEA kids’ department; Vanilla scent at Victoria Secret's stores; White tea fragrance in Westin Hotels’ lobbies; A patented scent in Singapore Airlines’ cabins; The smell of Crayola crayons.  Does your product, brand or store have a smell of success?

 Rolls-Royce

Crayola crayons

Victoria's Secret

Be the First...

Hello my friends.  Well, talking about first, who would forget their first Barbie doll or teddy bear? First time at the movies? First date, first kiss? First of anything is just hard to be forgotten.  This basic principle can be easily and very effectively applied in Marketing. 

My favorite Marketing strategists, Al Ries and Jack Trout, refer to the Law of the Category, the law of the first as I would call it.   If your company, brand name or a product is not first in its category you should find a category to become first in.  Dell was the first computer company to sell computers over the phone.  Miller Lite was the first American light beer.  Wharton School of Business (University of Pennsylvania) was the first American Business School.  Flori Roberts was the first cosmetics brand for women of color.  Johnson & Johnson was the first developer of baby shampoo. 

So, what category will you set to become first in?

Johnson & Johnson's      

Miller Lite

Thou shalt not lie…

 

Dear Marketers, thou shalt not lie in your ads, you will be caught and it will cost!  You have every right to inform your consumers about your goods and services through advertising, provided that you do not mislead them.  They, in turn, can fight for their rights through Consumer and Trade Associations.

Reebok ‘s EasyTone shoe campaign had claimed to improve and tone leg and buttock muscles.   The specific falsified and unsupported claim has left many consumers disappointed with toneless buttocks.  End result?  Loss of market share, damage in Reebok’s reputation and image, and a $25 million Federal Trade Commission settlement to all unsatisfied consumers.

Less is More...

Hello my friends.  I have caught myself reminiscing the past where life was just simpler in every aspect of it.  The world was not materialistic or cluttered leaving enough time and space for true values and natural treasures to be appreciated.  Less was actually more…

Simplicity translates as originality and sophistication in advertising.  It might need a greater brain investment, but it will pay off in the perceptions of the target market and it can definitely act as a differentiation strategy.  Less is more in advertising, as well.

Lego ad

The power of advertising

Having a smile on your face? Missing Christmas already? What about having a coke with your lunch? Positive answers to the above questions reflect the power of the right advertising!  Coca-Cola, the world’s most popular and consumed brand has been advertising since 1886.  It has never stopped advertising since then!  That is how it has kept its name, image and taste strong and alive in the perceptions of global consumers.  Coca-Cola represents Santa Clause’s smiley face and the commencement of the Christmas season.  Coca-Cola is the refreshingly, tasty Cola drink.  Advertising has entitled Coca-Cola with the above designations and meanings.

A quality product leading to a positive word of mouth is another powerful and cost-free form of advertising; however, that alone is not enough! Therefore, whether you are a small or big, local or global, new or existing company you need to allow for an ongoing advertising budget.  Add some “Christmas magic” in your ad and enjoy the fruitful power of advertising.  I will leave you with Steuart Henderson’s quote supporting the necessity of advertising in the business world “Doing business without advertising is like winking at a girl in the dark. You know what you are doing but nobody else does.”

Domino's bubble gum anyone?

Hello to all! Well, as I mentioned last time big companies can also make big mistakes...How many of you would like to try Domino's fruity flavored bubble gum? Hm..too cheesy of a flavor, right? What about Frito Lay's lemonade to kill that thirst of yours? Too salty you would assume...Ladies, what about Bic's pantyhose for your night out? Probably not..too disposable-like in my perception.  Colgate's ready-made meals for a tasty lunch? I don't think so, too toothpasty of a flavor in my head. What about Smucker's ketchup to accompany your fries? That gives me an image of a rather sticky and fruity complement.

Needless to say that the above products are examples of brand extension failures. Lesson learnt? You can simply not be everything to everyone!  In an attempt to increase sales these companies have extended their products using their already successful brand name.  Nothing wrong with extensions provided that they fall in the same category or a complementary one of the existing product.  Do not confuse and do not take away the value that consumers have in their perception of your brand.  Stick to your category of products.  Stick to what you are good at.  In the perception of consumers, Dominos=Pizza, Frito lays=Salty snacks, Bic=disposable lighters, razors, pens, Colgate=Toothpaste, Smuckers=Marmelade.  So, what could be successful extensions for the above brands?

Source

Marketing; what do consumers want?

Hello to all.  Experiencing the excitement and value that quality blogs, such as the everydayeconomist blog of my very good friend and colleague, can offer, I have decided to share some simple but significant Marketing facts to enlighten the everyday consumer, the entrepreneur, the marketer.

 I will begin with a simple definition of Marketing.  Marketing is about identifying what your target market wants. Do not jump into developing your outstanding, ground-breaking product, before researching the needs, wants, demands of your defined market.  It is all about what your target consumers want, what they will be willing to buy and consume. Therefore, research and then develop, advertise and sell.  Otherwise you will be left with an outstanding idea and an outstandingly negative account.

As Noel Peebles quotes: “You can have the best product or service in the world, but if people don’t buy it-it’s worthless”.  Various products have been doomed as failures due to the lack of market research.  People with innovative ideas have rushed to the development and introduction of the product without ensuring adequate if any demand for them. Segway’s two-wheel transportation vehicle, the “alternative to the automobile” according to its inventor Dean Kamen, is such an example.  Projected sales fell deadly short with a budgeted unit count of 10.000/week and an actual sales count of about 30.000 in six years (2001-2007).  The motorized scooter was simply not wanted by the everyday consumer; its target market was overestimated in size.  It does sell, however, in narrower groups of consumers such as police officers and tourist guides.  Consequently, research before you implement your unique ideas.  It will pay off and save you from money and time troubles.