What is the ultimate purpose of marketing?
To sell goods to consumers. Therefore a consumer is always king and is always right. Therefore, the best marketer must know the consumer well.
The consumer is a fan of branded products, which give them identity, prestige, belonging, status and solidarity to their fellow friends and family.
Therefore, the consumer is a fan of branded products.
So, u are a less well known and abandon new kid with products that nobody knows. Will they care about your existence? Definitely no. They will see you as a typical nuisance that is after their hard earned money. So, what can you do to market your product to them?
Knowledge and persistence is the only arsenal a new kid on the block have on the consumer revolution.
The knowledge of marketing that we have about the consumer is divided into types of fans of a certain product (fan, fence sitter, enemy). In a saturated market, 90 percent of the consumers are fans of a company, which we marketer call market penetration rate. So, we are left with the 10 percent, which is the fence sitter and the disgruntle or unhappy consumer as our potential marketer. No wonder, it is so difficult to penetrate the luxurious new market.
But, if we are persistence and understand the concept of saturation and retention. We will be better off. Let me show you how.
In 100 cold calling of potential customers, we will be meeting 10 non-fans. This show the importance for us to reach a saturation point of 100 percent total rejection.
Out of the 10 non-fan, we can only retain 1, as retention rate is usually 10 percent.
This show that in order for a new kid on the block to be successful in marketing his product, he must reach the saturation point of 100 percent total rejection and is better to retain an existing customer than to get a new one.
"Time and luck wait for no man"
Good Luck! Amigo!
Yours sincerely,
Dr Lion.
To sell goods to consumers. Therefore a consumer is always king and is always right. Therefore, the best marketer must know the consumer well.
The consumer is a fan of branded products, which give them identity, prestige, belonging, status and solidarity to their fellow friends and family.
Therefore, the consumer is a fan of branded products.
So, u are a less well known and abandon new kid with products that nobody knows. Will they care about your existence? Definitely no. They will see you as a typical nuisance that is after their hard earned money. So, what can you do to market your product to them?
Knowledge and persistence is the only arsenal a new kid on the block have on the consumer revolution.
The knowledge of marketing that we have about the consumer is divided into types of fans of a certain product (fan, fence sitter, enemy). In a saturated market, 90 percent of the consumers are fans of a company, which we marketer call market penetration rate. So, we are left with the 10 percent, which is the fence sitter and the disgruntle or unhappy consumer as our potential marketer. No wonder, it is so difficult to penetrate the luxurious new market.
But, if we are persistence and understand the concept of saturation and retention. We will be better off. Let me show you how.
In 100 cold calling of potential customers, we will be meeting 10 non-fans. This show the importance for us to reach a saturation point of 100 percent total rejection.
Out of the 10 non-fan, we can only retain 1, as retention rate is usually 10 percent.
This show that in order for a new kid on the block to be successful in marketing his product, he must reach the saturation point of 100 percent total rejection and is better to retain an existing customer than to get a new one.
"Time and luck wait for no man"
Good Luck! Amigo!
Yours sincerely,
Dr Lion.
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