4M’s of Management IV- Marketing (Brand Management)

by Abhishek

via pluGGd.in by naman on 11/12/09

[This is the fourth part of the 4 part series on Business Management.]

Marketing is about selling the benefits of the products before actually selling the product. It has to be to an extent that customers queue in front of the stores hours before launch of the product. You have to get the user excited.

What is that one thing that makes you excited about going for a vacation or say going home after work. Its the anticipation of what is to come after the journey or transit. You have to create that notion in your potential customers so that he is super excited about finishing this journey of registration on the site or buying the product.

Marketers are commonly heard saying that marketing is about telling a story and yet we fail to create a strong story around our product. A story like “I was having this problem and got in deep s**t cause of it, so i teamed up with my friends from IIT and solved this practical problem that everyone faces in everyday life.” Think for yourself, is that story strong enough that your children will share it with your grand children? A real marketing story has to be that strong.  If you rethink all the childhood bed time stories you would probably realise that every story was marketing something. Something so strongly that even you will share the same story with your children. Whether it is about Pinocchio that sold you the idea of not saying lies or Hare and Tortoise about being slow and steady. Every idea/product/service/belief was sold to you through stories. If you are a Hindu and had to explain about some gods to a non-hindu you will comfortably only be able to talk about the ones you know a story about. That is the power of a story. Stories give a point to talk. They create conversations and they spread the word.

How many of us really respected Steve Jobs before the story he shared with us?

Like HR management was not only about managing employees, even marketing is not just about your product but also your company to attract better employees and partners. When there is a story about how Google takes 14 rounds of tests and interviews before hiring someone, it is actually marketing it self to the smartest brains of the world to join the company.

Apart from plain self centered stories it is also important to sell something that the product offers. And the best thing that you can sell is hope. The way Obama did it. Remember everyone is doing that. When a bike ad shows you can attract girls every time you ride on it, it is selling you hope. Pick up a genuine problem that your prospects face and sell him the hope of coming out of it.

Here’s a easy three way step to create an effective marketing communication.

  1. Tell the benefits of the product/service to attract the attention.
  2. Then the features in your product that will provide that benefit so that user can judge for himself whether you are saying the truth.
  3. And then do an emotional connect (human management) with it so that the communication has a better recall rate.

One doesn’t even realise that he is marketing something almost every minute of his life. And something is being marketed to him at the same time. When you say a single word more than what is required, you are actually marketing yourself. Also if you can resist the temptation of doing so, you are marketing yourself, only in a long lasting way this time.

Does your product have a story that people will like to talk about?

Please share in your opinions/comments on this.

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4M’s of Management IV- Marketing (Brand Management)