Tuesday, November 24, 2009
Monday, November 16, 2009
Saturday, November 14, 2009
Stupidity influenced
Is stupidity really contagious? If humor is lost in translation why isn't stupidity?
Now for the more critical part of this essay, how does a brand target the stupid? Or does the target find the the brand? I am quite sure those that qualify for The Darwin Awards very often don't need to know about them to act and qualify for them!
Sadly organizations too fall prey to being influenced by 'stupid', as much as I have loved Drucker I know Management is not always about doing the right things and leadership is not about doing things right!
Wednesday, November 11, 2009
The experience brand phenomenon!
Red Bull: Red Bull basically pioneered the experiential category. Not only did the brand rise to prominence by sponsoring alternative athletes and lifestyles, it went further by creating its own events, like Red Bull's Flugtag and even its own sports like Red Bull's Crashed Ice, which takes over old Quebec with a mix of hockey and motorcross. Even the brand's website has morphed into a blog, much like today's most popular publishers.
Tuesday, November 10, 2009
Branding 'Sexiness'
Now for another view on Shoppers
Here is one shopper segmentation in light of the current economic recession from Decitica -
1. Steadfast FrugalistsIn my opinion a lot of these segments are sheer common sense and a lot of creative copy in generating segment names that sound profound and titillating at the same time.
2. Involuntary Penny-Pinchers
3. Pragmatic Spenders
4. Apathetic Materialists.
These categories were derived by analyzing the frequency, satisfaction and the self-efficacy associated with a variety of spending, purchase and consumption behaviors.Steadfast Frugalists
Steadfast Frugalists are committed to self-restraint, engaging in prudence with unequivocal enthusiasm. They make up about one-fifth of the American consumers, representing all income and age groups.
"Marketers will find this group to be the most challenging, as they are the least brand loyal and most likely to discount marketing messages," notes Dr. Srinivas.
Eighty-percent of Steadfast Frugalists say the new behaviors they have adopted will likely stay with them for a long time. This is in contrast to twenty-four percent of Apathetic Materialists who feel this way.
Involuntary Penny-Pinchers
Involuntary Penny-Pinchers, about twenty-nine percent of the population, have been severely affected by the recession. They are mainly made up of households with less than $50,000 in income, with more women than men.
This segment has been forced to embrace thrift like never before. Presently, their actual behaviors do not differ widely from those of Steadfast Frugalists. Where they drastically diverge is in their aversion to expending effort in money-saving strategies. Only seventeen percent find buying store or generic labels to be satisfying, compared to fifty-nine percent of Steadfast Frugalists.
Also, the recession has had a heavy emotional impact on Involuntary Penny-Pinchers; they admit to being more scared (seventy-seven percent), stressed (eighty-one percent) and worried (eighty-seven percent) about the future than other groups.
Pragmatic Spenders
"Pragmatic Spenders are the most attractive group for marketers because of their higher spending power," says Dr. Val Srinivas. "While it is true that they have also curbed their spending, they are the most capable, both psychologically and financially, to willfully resurrect their past spending patterns," he added. This group comprises twenty-nine percent of consumers.
Income has blunted the effects of the recession on this segment. Only twenty-eight percent of Pragmatic Spenders feel the recession has changed what and how they will buy in the future, compared to fifty-five percent of Steadfast Frugalists.
Apathetic Materialists
Apathetic Materialists seem least changed by the recession. They have not embraced the new frugality to the same extent as others and get minimal satisfaction from such behaviors. Only about six percent in this group find price comparison to be satisfying, in contrast to eighty-five percent in the Steadfast Frugalists camp.
The Apathetic Materialists segment has more men (fifty-five percent) and younger consumers (seventy-two percent are below the age of forty). They are the least driven by price: only eight percent admit to being very focused on value compared to thirty percent of Pragmatic Spenders and fifty-two percent of Involuntary Penny-Pinchers.
Tuesday, November 03, 2009
Top 10 tactics that make you buy
1. Location, location, location
In retailing, as in real estate, location is everything. The milk is at the back of the supermarket for the simple reason that you have to walk past everything in the shop to get to it. There's no dashing in and dashing out again. Instead there's enough time to remember that you also need dishwashing detergent, garbage bags and, oh yes, Tim Tams. The best layouts are designed to keep you moving and often follow a curving path (think of an IKEA store or your local Target). The effect is to have you "wander around".
2. Refer to rule one
While we're on the subject of location, it's no accident that small, incidental purchases are placed close to the cash registers. Magazines, chocolate bars, batteries … the kind of stuff you never remember unless it's staring you in the face. In the same way, lip glosses, scented candles, soaps, those little "comedy" books, key rings and the like will be placed tantalisingly near the counter of specialist shops. It makes it easier for you to say "oh, and this too, thanks". You'll also often see products classified as impulse buys placed at the ends of aisles, making them hard to miss.
3. Smells like teen spirit
Probably bigger in the US than it is here, scent can be used to create a buying ambience. The classic is coffee and freshly baked bread in supermarkets (try smelling either and not feeling hungry), but there have also been cases where sports stores have been scented to smell like locker rooms (supposedly to make you feel like an athlete).
4. My kind of sound
Next time you're shopping, close your eyes and listen to the tempo of the sounds being piped through the aisles. In a traditional department store, the music is likely to be soothing — aimed at slowing you down and encouraging you to linger over the merchandise. Supermarkets play those comfortable, easy hits that have you singing along and probably not sticking as closely to your shopping list as you should. Specialty stores will use music to reflect the kind of customer the retailer is targeting — young, funky boutiques play young, funky music (usually at ear-splitting levels).
5. Show me the money
Visual merchandising (a fancy name for displays) offers more ammunition. By putting items together in an attractive way, or, in the case of home stores, showing a room setting that allows you to imagine the items at your place, retailers are doing the hard work for you. So rather than buying the picture frame you went in the store for, you might buy three (they "group" so nicely) — and perhaps a rug, lamp and cushion to "tie the look together".
This kind of enticement begins with the glossy catalogues that stores now produce. No longer just a photographic show-through of a company's product, the catalogues are selling "see-yourself-here" lifestyle aspirations.
6. Look at me
To make you buy, the retailer has to get you to stop. The more you stop to look at attractive displays or interesting details or "bargain" signs, the more likely it is that extra stuff will find its way into your basket or trolley. To combat this, keep on walking — if it's that interesting, you can always go back later.
7. Shelf possessed
It's no accident that the most expensive items in a supermarket are placed at eye level (or that products aimed at kids are placed about three-feet from the ground). We see therefore we buy. It takes a savvy shopper to know that cheaper products are usually on the bottom shelves. Bend a little and save.
8. Twice as nice
How many times have you been seduced by the supermarket "multi-buy" or the shoe stores "two-for-one" offer? Using the words "two for one" instead of "50 percent off" have been shown to increase purchases by up to 150 percent! Apparently we feel we're getting value rather than simply getting something cheap. Ask yourself this: do you really need two?
9. Size does count
It's very hard to over-shop with a basket — space is at a premium — which is why some retailers push us towards trolleys. Your three-item shopping list — toothpaste, butter, tuna — looks very lonely in a huge trolley and it's hard to avoid the temptation to throw in extra products to keep them company. Before you know it, you've racked up a huge bill.
10. When trying has you buying
Clothes-shopping has many traps for the unwary. From the salesperson who tries to develop "a relationship" with you (so that you trust her judgement and will take her advice on additional purchases) to the little "extras" that are vital to making an outfit "work" — think jewellery, bag, shoes, scarf … and the list goes on. It also seems that simply trying something on can lead to a purchase. It's called "claiming ownership" and the logic goes that once you've had that coat on your back you'll feel less happy about putting it back on the rack. Nobody's suggesting you shouldn't try before you buy, but beware those possessive feelings.