Finding treasure requires a lot of investigating and digging. Just ask Indiana Jones! (source)
In any successful marketing endeavour, one must be willing to think, live and breathe like one’s potential customer. This also means that preconceived notions and prejudices must be tested and thrown out the window if they are proven untrue.
What are some of these common misconceptions and myths? Let me offer some examples.
Active Ageing award winners show the tremendous potential in the silver market (courtesy of mylifestylemap.com)
A recent news article in The Straits Times got me all excited yet again about the oldest but most neglected market opportunity.
Namely, the silver-haired (or seniors) market.
Coke Pavillion at Shanghai World Expo (Courtesy of Coca-Cola China)
Have you wondered how Coca-Cola became the world’s leading brand?
Well, thanks to Coca-Cola, I’m about to find out.
I’ve been selected by Coca-Cola to be one of two bloggers (the other is Alvinology) to fly to Shanghai for the World Expo to cover the launch of its pavillion, explore its new Global Innovation and Technology Center (GITC), and attend events such as its Founder’s Day ceremony and an Expo Celebration Concert.
The art of curating and storytelling drew 8.5 million visitors to the Louvre in 2009 – many just to catch the Mona Lisa here!
One of the insights which I have gleaned in the hectic past few days from Steve Rubel and his thoughts on digital curation was this:
We should all be curators. Every single one of us in the fields of marketing, public relations, and advertising. And not only in the digital realm, but all others too.
Are these brands or logos? (Courtesy of search-this.com)
What is a brand? How does one understand the art and science of branding in the digital driven age?
First, a brand is not a logo. Certainly, logos represent one dimension in the embodiment of corporate or product brands. However, they are just a visual representation and a signpost rather than the true meaning of the brand itself.
Dubai was all about the dream without the reality, and landed itself with a huge debt. (courtesy of Bobesh)
There are two school of thoughts in marketing. The first belongs to the world of imagination while the second is centred on pragmatism. Do these spheres of marketing always have to sit on opposite poles?
Let us look at this in some detail.
To succeed in the art and science of marketing, one cannot simply stick to one central approach and hope to wing it come what may. What’s needed instead are a mix of both long-term, medium-term and short-term views. The adoption of these perspectives should vary depending on one’s vantage point.
For a start, one should have a clear long-term vision of the goal and desired end point. What are the overall objectives of one’s marketing efforts? Heightened customer satisfaction? Improved profits? Greater sales turnover? Or stronger brand positioning? Deep in the trenches of marketing skirmishes and battles, one should never forget what the end goal is.
Next, one should look at the medium-term strategies that are needed to accomplish that. What would be the few projects spanning several months to year that should be considered? These could be the development of new products, refurbishing of shop-fronts, training of staff in new areas, organisation of events, or upgrading of service levels.
Competing in a crowded marketplace requires the 4 Rs (Shinjuku courtesy of William Bullimore)
What are the most important ingredients in any successful business?
Is it the ability to stimulate Recognition deep, far and wide, penetrating into every household (or organisation) in the land?
Courtesy of Christopher Pattberg
Considered one of the most multi-cultural country in the world, the United States of America has one of the world’s most culturally and ethnically diverse population. Presently, it has some 305 million people out of whom 68% are non-Hispanic whites, 15% are Hispanics, 12% are blacks and 5% Asian American.
While white Americans currently dominate the American marketplace, some of the country’s most profitable segments actually hail from the other segments. Projections by the Census Bureau show that by 2050 when the US population grows to about 439 million, non-Hispanic Caucasians will only make up 46% of the country’s population. By then, the population of Hispanics (the fastest growing group) will swell to 30%, with blacks growing to 15% and Asian Americans swelling to 9%.
Not all seniors are frail and embittered (courtesy of ACE)
One of the biggest mysteries about contemporary marketing is this.
Why are such an overwhelming proportion of companies in the world only obsessed with advertising or selling to the young?
Don’t they know that the youth market is going to be shrinking in the years to come, or that seniors will dominate the world’s population, especially in developed countries?
