Some marketers love to use analogies and colorful comparative statements. Recently, one manufacturer said their company produced so much wire, it would stretch to the moon and back ten times. That’s a lot of wire, but unless you are selling to the twelve people who have actually walked on the moon there are few who can truly relate to such a distance.
Statements like these should have some relationship or direct meaning to a customer or prospect. Only then will they fully comprehend the enormity of an accomplishment or milestone. Here is an analogy I used with some financial executives prior to presenting some global economic reports. It uses a common symbol of retail banking – the teller – and maybe the most recognizable currency on the planet, the one dollar bill.
Sunday, November 27, 2016
Wednesday, November 23, 2016
Marketing people are always talking about the power of brand personality. They see it as a way to create a relationship between the seller and customer by placing human qualities and characteristics on a company or product. Defining the personality for a brand may be difficult, but finding the right one can have tremendous impact on sales and marketing performance. Since the goal is to add acceptable human traits to inanimate entities, some marketers use popular psychological tests to help define and develop the most effective brand personas.
Tuesday, November 22, 2016
Throughout our lives, we are exposed to many different logos. Nations, corporations, organizations, people and products use graphic marks and emblems for instant public identity. There are some good logos and some not-so-good logos. There is one logo, however, that stands out from any other. That logo is the best ever!
Monday, November 21, 2016
Way back in 1960, a marketing professor at Michigan State University named Edmund McCarthy, developed a set of basic ingredients required to successfully market goods and services. These variables are: Product, Price, Promotion and Place. Commonly known as the “The Four P’s”, Mr. McCarthy expanded on a “marketing mix” concept previously developed by Neil Borden, a professor of advertising at Harvard. Marketers around the world used the Four P’s to be sure they had the right stuff to succeed in their particular market. Today, even with our rapidly changing digitally connected world, this old-school concept is still a viable tool to shed light on deficiencies in a go-to-market strategy.