the purple cow notes
DESCRIPTION
The Purple Cow Notes. p. 1-26. Additional P’s. Positioning Identifying a market niche for a brand, product or service utilizing placement strategies Price, promotion, distribution, competition Publicity Managing the public’s perception of a subject A component of promotion - PowerPoint PPT PresentationTRANSCRIPT
The Purple Cow Notesp. 1-26
Additional P’s
• Positioning– Identifying a market niche for a brand, product or
service utilizing placement strategies– Price, promotion, distribution, competition
• Publicity– Managing the public’s perception of a subject– A component of promotion– Finding ways to attract public interest
Additional P’s
• Pass Along– WOM Marketing (word of mouth)– Referral Marketing– Email Marketing– Social Media sites (Facebook, Twitter, etc.)
• Permission– Asking permission to send information to prospective
customers– Mostly used by online marketers– Marketing centered around obtaining customer consent to
receive information from a company
The New P - Purple
• Idea behind the Purple Cow• The book is about the why, the what and the
how of remarkable• Remarkable Marketing is the art of building
things worth noticing right into your product or service
The New P - Purple
• The postconsumption consumer is out of things to buy– We have what we need, we want very little, and
we’re too busy to spend a lot of time researching something
– Why you need your product to be a purple cow
Before, During and After
• Before advertising, there was word of mouth• During advertising, the magic formula is if you
advertised directly to the consumer, sales would go up
The Greatest Thing Since Sliced Bread
• Wonder bread was more of a success than Frederick Rohwedder due to marketing– A good product with lousy marketing had very
little chance of success– The packaging & advertising helped this new
invention succeed
Why You Need a Purple Cow
• Tombstone pizza example– Invent a product everyone wants, advertise it to
the masses and make a lot of money• Aspirin example– Initially very easy to market – everyone would
want pain relief– Hard to market a product in a saturated market
where there are hundreds to choose from
Why You Need a Purple Cow
• If an audience doesn’t have the money to buy what you’re selling, you don’t have a market
• If an audience doesn’t have the time to listen to understand your pitch, you’re invisible
• The world has changed. There are far more choices, but there is less and less time to sort them out
TV-Industrial Complex
• Concept:• Find a large market niche that’s growing and
not yet dominated• Build a factory• Buy a lot of TV ads• The ads will lead to retail distribution and sales• Sales will keep the factory busy and create
profits
TV-Industrial Complex
• Revlon & Cap’n Crunch examples • TV commercials are the most effective selling
medium ever devised
TV-Industrial Complex
• The original beetle– Sales languished until the use of brilliant
advertising– On the basis of great TV advertising, the original
beetle was profitable in the US for more than 15 years
– Original beetle TV industrial vs. new beetle Purple Cow