Creating Meteoric Successes In Marketing

Creating Meteoric Successes In Marketing



From time to​ time the​ marketing world is​ taken aback by huge,​ quick,​ unpredictable and seemingly inexplicable successes. These hits are products or​ services,​ entertainment locales or​ vacation spots,​ shopping malls or​ specialty stores that enjoy puzzling immediate popularity. There are incognitos that become hot celebrities,​ there are events,​ festivals or​ concerts that capture the​ masses,​ real estate development projects that evoke huge demand,​ or​ styles that become trendy. in​ nearly all cases,​ there are also new brands that are immediately adopted by the​ target population. For example,​ Harry Potter or​ the​ Da Vinci Code,​ Apple's iPod and the​ Blogs,​ the​ Hamptons in​ Long Island New York,​ Toyota's Scion brand,​ the​ Crest electric toothbrush and many more examples.

There are cases in​ which the​ reasons for a​ product's success are obvious. the​ success of​ Viagra,​ a​ product that has solved a​ serious problem for millions of​ men worldwide - is​ hardly surprising. Even the​ success of​ vacation resorts in​ Turkey - that have made accessible once a​ luxurious vacation style to​ a​ new middle class segment,​ is​ not a​ mystery. in​ contrast,​ in​ other cases the​ success of​ a​ specific product,​ place or​ person over the​ competition remains unclear. We have all observed the​ phenomenon of​ a​ packed and trendy caffe surrounded by apparently equally attractive but relatively empty coffee bars.

Research of​ marketing hits is​ not a​ new endeavor. Certain categories have accumulated much knowledge enabling planning and launching of​ hits with a​ practical probability of​ success. in​ the​ leisure and entertainment segment,​ companies such as​ Disney,​ Warner,​ HBO,​ and others have demonstrated such consistent capabilities in​ theater,​ television,​ music,​ toys,​ electronic games,​ and more. on​ the​ whole,​ secrets are kept closely. Many have tried to​ crack the​ formula of​ marketing hits successes.

Short sweet success

In the​ last few years,​ more and more sectors have become as​ high paced and as​ changeable as​ the​ fashion industry. the​ importance of​ hits for the​ success of​ companies has risen in​ sectors such as​ the​ following: automobiles,​ food,​ grooming,​ hotels,​ construction,​ entertainment electronics,​ software,​ and the​ list goes on. it​ even includes unexpected categories such as​ financial services.

Personally,​ I have begun my work in​ the​ marketing hits field in​ the​ latter half of​ the​ 1990's. I identified a​ radical change in​ consumer behavior and a​ dramatic rise in​ a​ new motivation that I coined "The Fear of​ Missing Out - FoMO". in​ extremely concise terms,​ FoMO turns consumers into serial seekers and adopters of​ the​ new (while inevitably forsaking the​ not-so-new). as​ such,​ one consequence among many is​ that FoMO nibbles at​ customers' loyalty to​ well-established brands.

Upon realizing that our efforts to​ preserve customers' loyalty are,​ more often than not,​ futile,​ I concluded that we were now in​ need of​ new tools to​ deal with a​ new consumer reality that is​ here to​ stay. Therefore,​ I have developed a​ comprehensive 'technology' of​ rules and tools for the​ development,​ launching and management of​ profitable,​ "Short-Term Brands (STB)". STB are planned short-term successes. During this development process,​ I conducted an​ extensive,​ in​ depth analysis of​ over 150 marketing hits in​ various and diverse categories. in​ parallel,​ I studied the​ accumulated experience in​ sectors that have learned how to​ methodically develop and generate such hits. in​ mid 2004,​ the​ results culminated in​ the​ "Marketing Hits' Formula" which is​ now a​ part of​ the​ STB armory.

The Marketing Hits' Formula and its implementation method allows for marketing innovation that will be accepted with immediate enthusiasm by target consumers and will spread virally. This formula has two major advantages: First,​ it​ is​ applicable to​ almost all categories. Second,​ it​ does not necessitate enormous marketing and advertising budgets (the most common method of​ attempting to​ instigate success within a​ short time frame).

Success has its Rules

The formula postulates that each marketing hit comprises of​ the​ following four elements:

1. Marketing hits are usually not large innovative leaps. the​ new product or​ service should be based in​ as​ much as​ 80% on​ a​ format that has been successful numerous times in​ the​ same category. the​ format assures familiarity,​ promises consumer satisfaction and minimizes adaptation efforts on​ the​ part of​ the​ consumer.

2. the​ product or​ service should be innovative by approximately 20%. This 20% provides the​ new experience,​ the​ uniqueness,​ the​ additional benefit or​ any other reason to​ switch from the​ current product,​ or​ to​ at​ least try it. This novelty should uphold the​ following two rules (3 and 4).

3. the​ product's novelty should address one of​ the​ "unsatisfiable" or​ "regenerating" needs (explanation to​ follow).

4. the​ product should include an​ element of​ "Cool",​ "WOW",​ and/or a​ "Twist" that creates a​ "viral motive",​ or​ in​ other words,​ will supply buyers with a​ good reason to​ tell other potential buyers about the​ product.
- COOL means 'right',​ fashionable and utterly current,​ perhaps even a​ bit edgy.

- WOW means arousing awe and excitement through an​ amazing design or​ by an​ outstanding and an​ unexpected level pf performance.

- a​ TWIST means something unusual in​ a​ surprising,​ intriguing and often amusing manner.

Hits are planned and managed short-lived successes (the duration of​ 'short' varies among categories) that are replaced by new hits. it​ is​ of​ utmost importance to​ realize that hits satisfy two types of​ human needs not catered for by long-term established brands:

"Unsatisfiable needs" - these are wishes that cannot be realized (not to​ a​ full extent),​ however,​ human beings will relentlessly attempt to​ fulfill them,​ while deceiving themselves that it​ is​ possible to​ do so. Amongst the​ unsatisfiable are the​ needs for eternal youth,​ irresistible sex appeal,​ grandness,​ omnipotence,​ domination,​ an​ ever-exciting life,​ and adventure (without investing the​ effort,​ taking the​ risk or​ paying the​ price). it​ is​ understandable that brands supporting such fantasies are bound to​ disappoint eventually and must be replaced by new solutions.

"Regenerating needs" - needs that require ceaselessly new fulfillments. Some of​ them are regenerating psychological needs,​ such as​ the​ need for attention from the​ environment,​ the​ need to​ renew oneself,​ to​ remain up-to-date,​ to​ discover,​ and to​ be tempted or​ seduced. There are also regenerating social needs including the​ need to​ signal involvement,​ belonging and openness.

We put the​ Marketing Hits' Formula to​ practice during the​ last half of​ 2004 and since then have gained experience in​ such diverse categories as​ pharmaceuticals,​ cigarettes,​ food products and TV shows,​ to​ name but a​ few.




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