A very popular local restaurant offers over 600 varieties of soda pop. My guess is they probably only sell about 20% of those (A partially scientific guess, based on the time-honored 80/20 rule!). This suggests that the return on investment (ROI) on such a broad inventory might not be that high and that a pruning […]
We may think we’re marketing a “product,” but what the customer wants to buy is a solution. The customer cares less about features (what it is) than benefits (what it DOES for them). Features and facts may help them justify a purchase with logic afterward, but the decision to buy, the benefits they are seeking, […]
You’d think because my profession is marketing that the Super Bowl would be my favorite time of the year. That’s not exactly the case. While it is always interesting to see how these organizations develop huge productions that do indeed grab the eye, may entertain, and may have us buzzing about some of them around […]
It’s that time of year. The execs are sitting around the board room getting fidgity, wondering if they should overhaul their current strategic plan or scrap it altogether. Or maybe just tweak it a little, since they haven’t tweaked anything in a while. Truthfully, and practically, their energy could probably be better spent on other […]
Finally! Finally, finally, finally, I get the chance to be cool again like I was for approximately 32 minutes way back in 1987. Back in the day (as you young people are fond of saying), I had a flight jacket, a Coca-Cola shirt, and, of course, a pair of Wayfarer shades to top it all […]
In 2007 we went all out for Christmas and bought a flat screen TV. My wife and I were so proud as we put it above the mantle so it could be the centerpiece of the room. In the summer of 2004 we had looked at plasma televisions that started around $3000 or so, so […]
Oklahoma City Jeweler, BC Clark, used the same jingle for their Christmas promotion year after year. Then a few years ago, they got to thinking that maybe the market was tired of this jingle, because they were getting tired of it, so they decided to change it. They quickly learned it was a big mistake […]
Often new products fail because there is no perceived need for them. That is, they don’t solve a real consumer problem. What is it that makes a problem “real?” For that answer, like all marketing/business/strategy answers, we have to ask the ultimate expert in our business, THE CUSTOMER! Whatever “real problems” we think our product […]
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