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Marketing Remarkable Products Spread Ideas
- 1. Maria Gina C. Nazareth MBAH 10B
- 2. Product Price Promotion Position Publicity Packaging Pass-along Permission
- 3. The New “P”: Purple Cow = being remarkable Remarkable Marketing: -the art of building things that are worth noticing into the product or service provided
- 4. Before advertising– -word of mouth During advertising – - power of television and mass media After advertising – new networks diffused remarkable ideas through mass market
- 5. Needa way to make a company’s product more noticeable
- 6. Old • Create safe, ordinary products and combine Rule them with great marketing New • Create remarkable products that the right Rule people seek out
- 8. TV-INDUSTRIAL AGE POST-TV AGE Average Products Remarkable Products Advertise to Anyone Advertise to the Early Adopter Fear of Failure Fear of Fear Long Cycles Short Cycles Small Changes Big Changes
- 9. Barbie,Prell, Honeywell, United Airlines, McDonald’s, Marlboro, Cap’n Crunch, Battling Tops, The Original Beetle
- 10. Starbucks,Magic Cards, Dr. Bronner’s, Linux, JetBlue, Outback Steakhouse, Motel 6, MP3, Dr. Bukk, Prozac, The New Beetle
- 11. The lesson and goal of the Purple Cow is to show that it is safer to be risky which will make a company fulfill their desire to do something remarkable. Once a company knows that their product’s demand is decreasing, it is time to create something worth talking about. …”If you have the will, you will find the way.”
- 13. Idea-viruses – code name for ideas that spread Sneezers – key spreaders of ideas How do you create an idea that wins? 1.Don’t try to make a product for everybody 2.Sneezers in market for too many products have too many choices 3.Create ideas that spread in the niche market. With a niche you can segment a chunk of the mainstream 4.This in turn will create focused ideas …Look for people with an OTAKU!
- 14. “Otaku describes something that is more than a hobby but is just a little less than an obsession.” The heart of the Purple Cow phenomenon begins with Otaku.
- 15. NO SECRET FORMULA!!
- 16. 2.Give the sneezers the proper tools they need 3.Once the product 1.Get permission from goes from remarkable people who were to profitable, let impressed others milk it for all its worth 4.It is necessary to reinvest the product again and then launch a new Purple Cow
- 17. Thank You
Editor's Notes
- We have learned in our marketing classes about the kotler’s P’s. According to Seth Godin, there are more than 4 or 5 P’s that we have learned..This is the marketing checklist done in order to make sure that you have done your job. And they say that you are more likely to be successful when you follow the P’s
- The reason why the Purple Cow was created was because all the traditional P’s just weren’t working right. Being remarkable is always something that is worth talking about and what makes the company better. The concept of this book are the Why, What and How questions.
- Before, there was advertising, there was word of mouth and this was when products that were worth mentioning were talked about and eventually was purchased by the mass market. During advertising, using the power of television and having the endless customer desires met; sales would go up if the advertising was directed towards the consumer.After advertising, companies are almost back to where they started. However, instead of going back to word of mouth, the new networks diffused remarkable ideas through the mass market. The problem with marketers is that since they know the old methods are no longer working; they would rather concentrate on solving problems than taking time to pay attention to advertisers.
- There are many companies that sell the same product and there needs to be a way to make a company’s product more noticeable, which is where the Purple Cow comes in. Consumers are either hard to reach or they simply cannot afford the product being marketed to them. Due to the idea-virus overwhelming the consumers, they are less likely to give their opinions to friends about products unless they are sure that the friend is willing to listen
- One of the best ways to effectively advertise a product is through television. Television has changed the way that products have been marketed to the mass media and how the product has been created. However, television is fading and so are newspapers and magazines. The problem with marketing on television is that since it is fading, companies are spending milions in the hopes of bringing it back to how it used to be and are now failing.The new rule is…The concept of the Purple Cow is very significant to the new rule of TV-industrial complex. A way to tell if an advertisement is working is to figure out what the past successes were.
- The marketer yesterday valued the volume of people she could reach. The center of the black curve above was the goal. Mass marketing traditionally targets the early and late majority because this is the largest group. But in many markets, the value of a group isn’t related to its size—a group’s value is related to its influence. In this market, for example, the early adopters heavily influence the rest of the curve, so persuading them is worth far more than wasting ad dollars trying to persuade anyone else.
- The problem is not that a company does not have any remarkable ideas but that they do not know how to properly execute them.
- The idea diffusion curve shows that the bulk of the product sales come in after the product was accepted by the consumers that are willing to try something new. Because of the atmosphere that the early adopters create makes the early and late majority feel safer about purchasing something new. After the last part of the curve is completely sold is when the sales matter. The only people willing to listen to risk-taking consumers are the innovators, who are people that might not need a product but purchase it anyway. The early and late majorities listen about a product but ignore the need to buy it. They only make an exception when there are enough people talking about it. This is when they will follow the crowd and purchase the item. Lastly, there is the laggard part of the curve. These are the people that do not follow the newest trends and stick to older products that can be considered obsolete and outdated.Not many people like to adapt to a new product so they tend to feel stuck in the products that they do not have. The only thing an advertiser can do is sell their product to people who are interested in buying something new. This is when the company hopes that the idea will spread and the idea will move from the early adopters to the rest of the idea diffusion curve. The idea is to design a remarkable product that will attract the early adopters but simple enough for them to spread the idea to others. Being remarkable has become helpful in two different ways: first, the left side of the curve is easily attracted and second, it is easier for the early adopters to sell to the rest of the curve.
- The early adopter’s niche is very willing to hear what has to be said about a product. The sneezers from one of the targeted niches can get the company to the critical masses needed in order to create an idea-virus. This is when innovation should diffuse and migrate to the masses after it takes over the original niche.The way to break through the mass market is to target a niche. By creating a niche, a company is targeting to a smaller market making the idea easier to sink in which they will be able to respond to what the company is selling
- By using Otaku, the early adopters are able to spread the word throughout the curve. Sneezers are consumers with Otaku because they are the ones who will learn about the product, try it and tell their friends about it. A smart business will get target markets that already have Otaku giving them the better advantage.
- There is no secret formula to creating a Purple Cow but there are process and a system that is really simple. It is to go for the edges and challenge yourself and your team to describe what the edges are and to test them to see which will give the results that are desired.In order to determine the edges and where the competition is, the P’s should be reviewedThe tactics and the plans do not bring Purple Cow products together but the processes that organizations used to discover the edges to their remarkable products
- Four steps1. To get permission from the people, who were impressed, to be able to alert them the next time there is a Purple Cow.2. Give the sneezers the proper tools they need in order to get the idea to safely cross the chasm3. Once the product goes from remarkable to profitable, let others milk it for all its worth4. It is necessary to reinvest the product again and then launch a new Purple Cow.It is always imperative to assume that what was remarkable the first time around will not be remarkable the second time around.