Please note! This essay has been submitted by a student.
Every company spends millions on their marketing campaigns to attract customers towards their brand, however only few succeed. Companies engage in battle, whether it’s Coco-Cola v/s Pepsi or Airtel v/s Jio to promote awareness, sales and win battle on marketing. With the help of strategic marketing, brands try to hold eminent position in consumer’s eyes and acquire new customers of rival brands. However, the question arises, is it imperative to generate the hype of a product or service which is already present in the market?
Today, marketers are willing to give everything to ensure that their customers get product or services on time. But, if everything is available to consumer in a timely manner, then why he/she will be interested in so many advertisements or campaigns around? For example, When Mi launched its mobiles in India, it made them available only through sale on specific days on Amazon only. The customers who wanted to buy Mi mobiles were forced to wait for weeks to get mobiles in their carts. This type of exclusivity not only helped company to circumvent costs by avoiding excess inventory, but also made buyers relish the fact they are the few lucky ones to have product in their hand!
Or how many of us are aware about new phone launch events of Samsung, Xiaomi? But we all are aware about new I – phone launch date and glue our eyes to their product event launch! The difference in our behavior arises due to ‘secrecy’ which is considered as complete blackout on advance information. It’s embedded deeply into the culture and DNA of the Apple employees. The consumers do not know the new features of the next version of I-phone until it is announced. It helps to create mystery around the brand. The market value of the Apple products is determined by the way consumers can be made to feel about them. Since Apple products are considered aspirational, they have a way of communicating the status of the owner. It takes a lot of marketing genius to raise, cultivate, and preserve this reality. Secrecy and tight control of the narrative around new products are vital ingredients.
It is important for marketers to go back to basics and ask themselves about problem they are resolving for customers and the solution their product or service is providing. Gone are the times, when consumer choices were easily influenced by actors and cricket. Today, by addressing the core issue while connecting to consumers, brands can bind themselves to the consumers at the emotional level which cannot be ignored. In 1988, Nike came up with campaign ‘Just Do It’ which encased emotions felt by people during exercising. Finding difficult to jog two more miles? Just Do It. Too tired to run on treadmill? Just Do It. It’s a slogan by which everyone is able to associate even today: propel to push ourselves beyond our limits.
Marketing must entertain, engage and amuse which today’s modern marketing is not able to do. No matter how boring the product looks, it doesn’t mean the story can’t be narrated in an interesting way. Absolut is ranked as number one premium vodka today globally but less people know the interesting marketing story behind it. In last 25 years, Absolut launched 1,500 different print ads of one Absolut bottle. The brand worked with different artists who portrayed Absolut bottles in distinctive and creative ways.
The marketers worldwide work hard in developing recommenders who will shove the brand to customers. What if things can be simpler and more trustworthy? In 2008 Disney built reliable Moms Panel which is simple, word-of-mouth forum for queries about Disney holiday destinations. The panel is filled with zealous, committed and diverse individuals—moms, dads and other family members who usher with vacation planning. These panelists are not from outside but who have been customers of Disney from years and have indubitable passion for Disney vacations along with understanding about Disney vacation destinations. The goal of the marketer should not be just to provide information from all sides, but make sure that consumers feel confident about the information.
Today’s marketing executives believe that if brand loves customer, the customer will love you back which is not at all true. The above principles of exclusivity, secrecy, amusement, trustworthiness might not hold true for all the products and services but then neither does contemporary marketing notions are appropriate on all occasions.