Marketing Globally

After a lot of marketing discussions, now is the time for people behind all the wonders. What if a company has clients all over the world? And prospective customers are flooding in? It becomes a herculean task for the Marketing Managers to go to and fro to different places. They need to travel not only physically but also mentally. I have seen people glued to their blackberries lost in time. Jet lag becomes a routine sickness. Boredom of air travel is another disadvantage. They are basically sick of entertainment too. After facing all these difficulties, the executive still reaches in time for the meeting, well dressed up with a perfect smile, a helm of confidence and no sign of tiredness. That is why a company succeeds in marketing the products. An excellent product would not sell, if the manager does not possess the ideal qualities mentioned above. What does an executive get in return for all the days he had toiled? Monetary benefits? Fine.. But that would not be in par with all those he undergoes. He, in fact is happier when he has convinced the client into buying his product. The sense of satisfaction pays him for everything. And that makes an Executive tick.

How Important is a Tagline?

What does a Tagline signify? The mission of the company or the quality of the product or how unique the product is. But the irony is – Who remembers the Tagline? If someone asks a regular user of a laptop, he wouldn’t know what the Tagline of Dell or Apple is. So what is the use of a Tagline? Though not explicitly, a tag-line implicitly captures the attention of the viewer. It would be surprising to find that when people see a Tagline they identify the brand more often than the vice versa. Or at least the Tagline seems familiar. Though marketing resources recommend not to focus too much on the extra line, it does make a difference. It becomes a positioning element. The Tagline or the advertising slogans make the people remember the company the way they have to be remembered. In fact it is the very good example of the AIDA concept of Attention, Interest, Desire and Action. All these big words are sufficed with one single line called a slogan. So next time you see a Tagline, spend a minute to comprehend what the company is trying to communicate with you. It may mean more than just a set of words for attraction.

Co-branding

Co-branding means – “Using a brand with another famous brand to leverage the fame.” These kinds of marketing are apparent in sports where you find Ferrari car with Vodafone, Shell and Malboro around. Well, in this case, to be very safe, all the brands or co-brands are extremely famous already. But being associated with a huge fan-following Ferrari, they make their names noticed everywhere throughout the world. People become obsessed with the sport that Shell becomes the ultimate fuel for a power engine and Vodafone the best service provider in the minds of the people. So reiterating on the fact the brands come from minds of customers. This is more than associating a brand with a celebrity because a celebrity comes and goes but the team and brand remains forever. Similarly AIG sponsoring Manchester United is deep-rooted in ManU fans. When the name is missing on the Jersey, it becomes news. That is the impact of Co-branding. While I am talking about the already famous brands, lesser known brands gain a lot by associating themselves with bigger known players. Virgin Mobile uses Qualcomm technology (when Virgin was a new player) enhances the brand image of Virgin. Or a newly branded car providing Carrier solutions. The chain goes on and on.

Curious Ads

By the word “Curious” means people want to learn more about the product and the advertisement. How do Advertisers induce curiosity in viewers? Apparently, anything tacit or incomplete induces curiosity in viewers. There are people who wait for the ads to come, keep tracking whether the sequel to the ads have come and so on. This is exactly how customers must be involved in the promotion of the product. I remember the “Coming Soon” advertisements of Pepsi which was a huge success and most spoken about commercial. Pepsi-man, the cartoon character became a household name in Japan. Pepsi has been very aggressive in its ad campaigns both by using celebrities and innovation. Even after years of tons of innovative ads of products, this has carved a niche in the hearts of people. What made it famous was its uniqueness. Just because an ad induces curiosity does not mean it will be famous. Then what stops the other brands to follow suite? Not all kinds of products will be able to crawl through the competition using the same strategy. Not all products can create unshakable brand equity by using a similar strategy. There are so many other strategies other than sequels to make people involve themselves in the brand.

Catalog Marketing

Have anybody noticed the catalogs that come along with your Credit Card bills? They are so attractive and tempting to buy. There is a whole new business in this line. A mere attractive poster with discounts and offers that come along has triggered buying of several items. This is a kind of Retailing where business reaches the customer directly. The catalog marketers are finding new media to send across their catalogs. These are already available in departmental stores, cafes, retail showrooms etc. All men and women do not miss to have a look at these because they feel that the catalog products are more personal and customized. For the catalog marketer, he need not be present to exhibit any item on that but it still induces a feeling of buying in customers. This way, the catalog company saves a fortune in not training the employees for sales, not having a space in the middle of the city and finally not even displaying the product. It is so common in the United States. Now-a-days catalogs are available online which means the company need not even spend for the paper used in making catalogs. Now, e-catalogs are becoming more and more popular.

Tackling Competition

In words of Peter Drucker and Michael Porter who have written Bibles of Management and Competition, a Company has no other choice other than to be prepared for the future. Planning with competition in mind is critical for nascent companies as well as existing big players. The major blunder a newly entering company makes in counter reaction to the existing player is:

To introduce an unwanted wide variety of ranges covering products of major players:
Now what is the issue here? The new entry is unknown to the market. Getting engaged in more product differentiation will pose a high risk of recognition in the market. People will still think twice before shifting brands just because the new brand offers everything and anything. Positioning a single product in the minds of the people is simpler than that of ten products.

This was what that happened to the great brand Levi's. To sustain its market, Levi's went into introducing numerous varieties of Jeans. This resulted in confusion amongst the customers. Levi's did not intensify on its products but multiplied. It did not focus on its strengths. This was taken advantage of by its competitors and thereby, Levi's is undergoing a tough battle to bring its image back into the original.

When a photocopy became a Xerox

Have you ever thought what Kellogs was before it became Kellogs or what Xerox was before it became Xerox? They were ordinary commodities used in our daily lives like Cornflakes and Photocopiers. What made these brand names so synonymous with their respective products? Ironically it is their name that made them stand out from the rest of the herd. How did the name become omnipresent? They were available everywhere. It is always nice to use a branded item rather than some anonymous item. That is the difference between “I purchased a new watch” and “I purchase a Rolex.” All products that are available in abundance were once commodities which did not have much differentiation with respect to the competitors. But as you see, “What’s in a name?” concept does not work in Marketing. A brand brings out the value of keeping the product. A brand brings out the persons behind the success of the product.

This does not mean a single word “Brand” can make a miserable product in a whole new genius. There is lot of blood and sweat, leaps and bounds involved in it. Now you say “Chrysler”, people’s eyebrows rise. But when it was under the great depression would anyone have known it?

Warriors of the corporate world

When I walk into a shop, I am greeted with a warm smile by the person across the counter. This person transforms himself into my new best friend and tries to help me out on what I need. I wanted to buy a new watch and then my “friend” gives me a couple of choices and the various features available. For the next few minutes I am bombarded with information and it's during this time, I forget the difference between of what I need and want. I end up buying a watch which I am pretty pleased with. I thank the person and make my way to the cash counter wondering whether I was induced to make the decision or it was on my own accord. The person we are talking about is a salesperson. If you thought that being a soldier was tough, think again. These people are the soldiers of the corporate world. It is through these individuals that a company makes its initial personal contact with the outside world. Many of them face stiff competition not only from other companies sales force but also within the same company. Their jobs are not very secured and they are paid a nominal salary. To top it off they must bear the brunt from an angry customer for no mistake of theirs. So the next time you come across a salesperson, remember behind that smile, is a lot of efforts put in.