Long gone are the days when we used to accentuate over the 4 Ps of Marketing. Modern marketing, as Seth Godin asserts it, has become more pronounced and deliberated in this era. I am going to elaborate over a dozen words. Each one of it elaborates upon a concept; each one of it encapsulates a big idea that you can work with. I am going to underline each concept and describe how each word differentiates from the old into the modern marketing arena.
Once you understand that you are leaning forward and have a goal, and you are going to yell and babble out as loud as you can, a lot of stuff start to make sense.
You would be able to sift out the marketing aspects: the ones that you care about and the ones that you don’t, you would be able to make sensible investments in the areas that matter to you.
How much would you be willing to pay for a soda can? Or let’s ask how much would you be willing to pay for a burger. The answers would vary. As for the former question, you might be willing to invest in a couple of dollars. For the burger, you might just be thinking of where are you buying it from and what’s the trade off for the hunger and taste buds in terms of monetary value.
This is because your mind is programmed like a filing cabinet. The things that you care about have a lot of varieties in there, so if there’s some mundane need, you would immediately come up with the best price value for a certain product that comes to your mind.
Our brains are the one which marketers want access to. However, as a consumer, it’s extremely complicated and unlikely that you can give the exclusive access to your brain. You may categorize them in a particular set of keywords – the way Google does it – but remotely incompetent to sort out the right cross section.
So, how do you fix this problem? Sort out a way where you develop your brand in such a way that it resolves the needs of a particular niche or segment. Research on the ways where you find out your particular filing cabinet where you are in a good position to satiate a demand, and consequently, attain your desired goal.
Take the example of 7Up. When this brand started off, it positioned itself as Non-Cola. They knew that Pepsi and Coke are so busy grappling with each other that it couldn’t have accommodated itself in. So in case one was looking for something clear, something more refreshing, 7Up helped itself to quench that need.
Hence, as you look forward to establish or rejuvenate your brand, ask yourself whether you are establishing a real brand that a customer would be willing to pay for; or you would be just haggling along to build up a new filing cabinet in the customer’s mind.