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Superb Marketing Principles

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In this presentation, we will discuss in details about 17 fundamental principles of selling and marketing, by knowing the real need of the customers and perception of the customer towards the brand.
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Superb Marketing Principles

  1. 1. Chapter 4Superb Marketing Principles
  2. 2. Objectives• After going through this chapter you will be able to understand: – The very best in marketing truths – 17 marketing principles – The work is your life and it is fun – Be specific – Negative factors do not sell – Business is the best kind of investment
  3. 3. Introduction• Academics and marketing research brainstormers have been observing, examining, analyzing, comparing and recording everything that has produced results
  4. 4. Introduction• We can dig out the basic fundamental principles of selling and market promotion from them• Make use of them and achieve a spectacular success in the market
  5. 5. Superb marketing principle – 1Long copy outsells short copy• It is a fact that longer the story the more the number of the copies it sells• People look out for all the relevant information so as to make a buying decision
  6. 6. Superb marketing principle – 1Long copy outsells short copy• They want all queries and doubts cleared• The more words, space and time you take to advertise a product, the more successful you turn out to be in the market
  7. 7. Superb marketing principle – 1Long copy outsells short copy• This does not rule out that less detailed, shorter – in dimension and duration• It will be proper to come out with full details
  8. 8. Superb marketing principle – 1Long copy outsells short copy• It will not be sufficient if you stop the campaign with a small, insignificant ad• The full display ad will entice the prospects to look out for the full-blown out sales package will do the magic
  9. 9. Superb marketing principle – 1Long copy outsells short copy• So, if you must be aware of the fact that pinning all hopes on smaller marketing tools will not be sufficient enough to get a desired level of selling. Long copies outsells short copy!
  10. 10. Superb marketing principle – 2The toll free phone calls anddiscount coupons• Most of the people ignore an ad giving out a listing of telephone numbers• Free phone calls facility boost the response to the ad
  11. 11. Superb marketing principle – 2The toll free phone calls anddiscount coupons• A discount coupon to an ad leaflet will obviously increase the response• A sales letter without the accompaniment of a coupon is discarded
  12. 12. Superb marketing principle – 2The toll free phone calls anddiscount coupons• There a certain negative points for free phone facility• They have nothing to lose, you are the sufferer
  13. 13. Superb marketing principle – 2The toll free phone calls anddiscount coupons• Your valuable time and money go in waste• Such seriously motivated people do not bother about shelling out a few coins
  14. 14. Superb marketing principle – 3 Apicture is not worth a thousandwords• We include a photograph in an ad very rarely• A photo can create a sort of puzzle in the viewer’s mind
  15. 15. Superb marketing principle – 3 Apicture is not worth a thousandwords• A beautiful shiny picture of a new model car can be seen in an ad placed by Ford motors• It should be seen that the picture does not crowd out the vital information the ad carries
  16. 16. Superb marketing principle – 3 Apicture is not worth a thousandwords• Another noteworthy aspect is that if you add a picture in the ad the reader will think that you will stand up to the promise• Setting your ad material wisely is an ideal way out for any marketing campaign
  17. 17. Superb marketing principle – 4Superficial statements do not sell• People are fed up with superficial and general statements such as: – Super quality – Fantastic price• People have an allergic attitude towards such tall claims
  18. 18. Superb marketing principle – 4Superficial statements do not sell• Give an exact idea of what you are offered for a prospective customer• For e.g. – Loose 12 kg in a week or get your money back – Now your car insurance is 15% cheaper
  19. 19. Superb marketing principle – 4Superficial statements do not sell• You give the exact information that is information to the point• Avoid making glittering generalities
  20. 20. Superb marketing principle – 5Positive factors outsmart negative• It is never appreciable to arouse the fear factor in the minds of prospective customers• Making people good on the contrary makes them buy
  21. 21. Superb marketing principle – 5Positive factors outsmart negative• E.g. – If an auto repair company shows the picture of a smashed car people on seeing the picture feel bad and automatically an association of the auto repairing company and smashed up car frames up in their mind
  22. 22. Superb marketing principle – 5Positive factors outsmart negative• There are more corrective ways of giving negative notions such as – If the ad of walker shows pictures of before and after use of it a prospective buyer would definitely be attracted
  23. 23. Superb marketing principle – 5Positive factors outsmart negative• An ad that acts as testimony fostering a negative approach that turns on wonderfully is that of the mouth wash listerine – “It says the taste that you hate twice a day”
  24. 24. Superb marketing principle – 5Positive factors outsmart negative• You may make a negative statement but do not direct it outward to the prospective buyer• For e.g. – A TV. commercial in U.S. depicts a car mechanic at work looks much tired and irritated making a loud and clear comment, “This car needs $1500 in repairs”
  25. 25. Superb marketing principle – 5Positive factors outsmart negative• So, try to avoid negative advertising• Beware – a negative ad can backfire at times
  26. 26. Superb marketing principle – 6 Asales letter – No, a missive from afriend• Sales letters are called so for all their sense and meanings• The more your sales letter take the form of friendly helpful missive from one of your friends the more it penetrates the minds of prospective buyers letter
  27. 27. Superb marketing principle – 6 Asales letter – No, a missive from afriend• A business letter to have a friendly look must have certain designs such as: – Its font - Avoid super special type styles and fonts
  28. 28. Superb marketing principle – 6 Asales letter – No, a missive from afriend• Most important point at this outset is not to use capital letters, which makes it difficult for the customers to read• They may have a feeling of a “loud uttering” and you lose your goal
  29. 29. Superb marketing principle – 6 Asales letter – No, a missive from afriend• A sales letter differs from an ordinary letter in certain aspects• It will have a headline which an ordinary letter would not
  30. 30. Superb marketing principle – 6 Asales letter – No, a missive from afriend• Generally speaking, a sales letter has to be a typed out one other than a printed one to create a friendly look and effect
  31. 31. Superb marketing principle – 7Sell solutions – not products• A product that solves a serious problem, that is what it means by saying ‘selling solutions’• The more significant is the problem and the more effortless and cheaper the solution it makes wonders
  32. 32. Superb marketing principle – 7Sell solutions – not products• The price will not be a deciding factor as long as it does what you claim to be done• If you succeed in convincing the customer that your stuff delivers, you are in a blue ocean
  33. 33. Superb marketing principle – 7Sell solutions – not products• The general rule to be remembered at this juncture – ‘People do not buy to prevent problems they do not face now!’• There are certain things people want to avoid
  34. 34. Superb marketing principle – 7Sell solutions – not products• For e.g. – In a successful ad campaign, TV visual, a cine actor portrays a plumber who digs the entire backyard of a house to reach to the buried septic tank
  35. 35. Superb marketing principle – 7Sell solutions – not products• A definite cure sells easily whereas a prevention is not• If the product prospects people who have great concern about certain things sells even if it a prevention
  36. 36. Superb marketing principle – 8Repeat…. Repeat…. Then repeat• The law of repetition states that even if you may not make a success at a desired level at your very attempt – repetition definitely does• For e.g. a spider tries again and again and falls down as before it goes on trying
  37. 37. Superb marketing principle – 8Repeat…. Repeat…. Then repeat• A majority of business give up a prospective customer in search of another• Continue your efforts till you get your prospect convinced
  38. 38. Superb marketing principle – 8Repeat…. Repeat…. Then repeat• Try repeatedly – you are going to make a difference• An experienced marketer shows that first time contacts are almost the poorest as far as response is concerned
  39. 39. Superb marketing principle – 8Repeat…. Repeat…. Then repeat• The formula behind the logic is somewhat like this – Tell them what you are going to sell them – Tell them what you have already told them before – Tell them if need be: Do not hesitate or give up
  40. 40. Superb marketing principle – 8Repeat…. Repeat…. Then repeat• The TV commercials run their ad time and again, several times in one day• It is better to irritate the prospects than withdrawing too soon without making any significant sale
  41. 41. Superb marketing principle – 8Repeat…. Repeat…. Then repeat• The ad should be catchy and adaptive• You will come to know how proper and effective an ad is only after running it several times
  42. 42. Superb marketing principle – 8Repeat…. Repeat…. Then repeat• It costs less to repeat an ad a number of times when considered about the turnover it may bring into• The law of repetition is applicable to all tools of marketing
  43. 43. Superb marketing principle – 9Concentrate on customers, thesales will follow• Most of the businessmen concentrate on sales of their products• Your stuff is going to sell by all means in leaps and bounds
  44. 44. Superb marketing principle – 9Concentrate on customers, thesales will follow• It’s everybody’s knowledge that if you make people happy they will become your customers• Keep doing the same, they become your regular customers
  45. 45. Superb marketing principle – 9Concentrate on customers, thesales will follow• Curse the entrepreneur and swear not to buy from him in the future• Their efforts in making fresh efforts will meet several odds
  46. 46. Superb marketing principle – 9Concentrate on customers, thesales will follow• If you provide satisfaction to the customers the return is enormously large• Sometimes you lose money in making the customer happy
  47. 47. Superb marketing principle – 9Concentrate on customers, thesales will follow• There may cost you money, but do not back- out in doing so• This attitude will add to the customer’s lifetime value
  48. 48. Superb marketing principle – 9Concentrate on customers, thesales will follow• So never lose heart on a first time drawback• After all, it is the customer that brings and not the other way around
  49. 49. Superb marketing principle – 10It is the perception, not theproduct that sells• Build a better mousetrap, the people will make a beehive towards your door• It does not matter how much good or bad it is
  50. 50. Superb marketing principle – 10It is the perception, not theproduct that sells• For e.g., take the case of Heinz and Campbell’s – two brands of soup• Yet Americans refuse to buy Heinz and the Brits do not relish Campbell’s
  51. 51. Superb marketing principle – 10It is the perception, not theproduct that sells• The Americans perceive Campbell’s to be better than the Heinz• If you succeed than you create a win-win situation
  52. 52. Superb marketing principle – 10It is the perception, not theproduct that sells• This does not mean that tons of ads and sweet promises can compromise with the quality of your product• But this is not fair thing to do
  53. 53. Superb marketing principle – 10It is the perception, not theproduct that sells• The product must atleast be equivalent to that of your competitors• You get a flood of repetitions and all the good things that comes with it
  54. 54. Superb marketing principle – 10It is the perception, not theproduct that sells• Concentrate on the customers benefits and not merely on it features• Customers are not bothered what our product is made of
  55. 55. Superb marketing principle – 11Getting advertising free of cost• A business cannot thrive only on costly advertising campaigns• You may sell and make enough profit
  56. 56. Superb marketing principle – 11Getting advertising free of cost• If such things happen your product will be the ‘talk of the town’• No other paid advertisement be as powerful a crowd puller
  57. 57. Superb marketing principle – 11Getting advertising free of cost• They say that almost 90% of their new business comes from referrals• To gain extra mileage you have to set you publicity machine in top gear
  58. 58. Superb marketing principle – 11Getting advertising free of cost• This will kindle a word of mouth campaign• For this to happen you have to offer extra- ordinary service to the customer
  59. 59. Superb marketing principle – 11Getting advertising free of cost• Experience will show you that advertising a product after launching it into the market is a highly expensive thing• But free advertising works as magic
  60. 60. Superb marketing principle – 12Motivation intensifies interest• You can lead a horse to water – but you can’t make him drink• This holds as long as you do not motivate the horse
  61. 61. Superb marketing principle – 12Motivation intensifies interest• It is a usual occurrence that hoards of people enter your shop• After arousing the customer’s interest you have to add some salt so as to intensify their interest
  62. 62. Superb marketing principle – 12Motivation intensifies interest• You send a direct mail to customer’s conjuring up an interest in them towards your product• If a customer get motivated he or she won’t look back
  63. 63. Superb marketing principle – 12Motivation intensifies interest• Salting your marketing messages is as good as ‘selling the sizzle and not the steak’• Find all possible ways and means to salt your marketing communication
  64. 64. Superb marketing principle – 13Hitting on head• You successfully make a connection when you approach a person and hit him where he can really feel it• That too he was dealing in an expensive brand model
  65. 65. Superb marketing principle – 13Hitting on head• The salesman hit close home• The result was imaginary – he made a successful sale no questions asked
  66. 66. Superb marketing principle – 13Hitting on head• What magic did the salesman play? – He hit on the prospect’s head – he closed home• So you have to figure out where to hit and how to hit
  67. 67. Superb marketing principle – 14The buyer is always smart andalert• P.T. Barnum of Barnum and Baily circus was a great promoter• No one ever went broke by underestimating the intelligence of the American public
  68. 68. Superb marketing principle – 14The buyer is always smart andalert• If we give any credence to these great men it would be noticed that we were indeed treating our customers very badly
  69. 69. Superb marketing principle – 14The buyer is always smart andalert• Customer is much more sophisticated, you cannot fool them a bit• So when you are writing an ad don’t treat the customer like an idiot
  70. 70. Superb marketing principle – 14The buyer is always smart andalert• Fairfax cautions you to be straightforward in your marketing efforts• But soon they realized the fact that deception does not pay
  71. 71. Superb marketing principle – 14The buyer is always smart andalert• If you want to succeed never try to deceive the people• These are the people that you are going to sell the product to
  72. 72. Superb marketing principle – 15Bribe your customer• There is hardly any tool so effective as a bribe• Giving something to people that they are badly in the need of is an absolute way of motivating them to do something you are in need of
  73. 73. Superb marketing principle – 15Bribe your customer• So there is no harm in bribing the customer• Everyone falls for a bribe irrespective of whether a commoner or millionaire
  74. 74. Superb marketing principle – 15Bribe your customer• These also amount to bribing. Marketing studies show that a major chunk of people who get something free with the purchase remember the brand name over a year later
  75. 75. Superb marketing principle – 15Bribe your customer• Another advantage to bribing is that it goes well with any kind of marketing tool• Some goes well with a sales phone call offering something extra with each purchase
  76. 76. Superb marketing principle – 15Bribe your customer• You have to get satisfactory answers to the following questions: – How much money could you set aside towards freebees – What to bribe for different section of people you target – Is you bribe desirable
  77. 77. Superb marketing principle – 15Bribe your customer• You have to get satisfactory answers to the following questions: – Is you r bribe a unique one – How many people your intending to bribe – What message should accompany your bribe
  78. 78. Superb marketing principle – 15Bribe your customer• There a many companies who are specialists in arranging bribe items• There are a number of special items that would serve as a bribe such as free video tape
  79. 79. Superb marketing principle – 15Bribe your customer• The bribes are used to – Motivate a prospect to ask for your product – Get your sales staff busy selling – Act as an advertisement supplement
  80. 80. Superb marketing principle – 15Bribe your customer• Getting a free publicity from the press• Increase trade enquiries through phone calls• Get cheaper ad sales from the media
  81. 81. Superb marketing principle – 15Bribe your customer• Always test how your bribe works• You must check whether your bribing strategy works and that too powerfully
  82. 82. Superb marketing principle – 16You are the best investment• People invest large sums in the stock market• The more risky an investment is the more rewarding it is
  83. 83. Superb marketing principle – 16You are the best investment• But the best possible investment of all is yourself• A small ad with a simple idea can have a great potential
  84. 84. Superb marketing principle – 16You are the best investment• When you invest in your own business you can control all matters relating to it• As long as you are in your own business you take charge of your own life
  85. 85. Superb marketing principle – 16You are the best investment• No business is without an element of risk involved in it• The failures in business are not really failures but lessons which enables you to learn the intricacies involved in a certain kind of business
  86. 86. Superb marketing principle – 16You are the best investment• For e.g. – If you fail to get response after coming out with an ad you are trying a repeat with certain changes – When your ad clicks you reap the returns ten times your investment in a short span
  87. 87. Superb marketing principle – 16You are the best investment• So think that you yourself are the best investment of all• Put yourself at risk – you ignite beneath your seat and you get going like a rocket
  88. 88. Superb marketing principle – 17Combining all your marketingtools take you into the sky• We all know the adage ‘unity is strength’, this is applicable in every aspect of one’s life and goes well with marketing too• Even your close competitors would be dumbstruck
  89. 89. Superb marketing principle – 17Combining all your marketingtools take you into the sky• For e.g. – A university professor quit his job and plunged into the market with his accelerated learning program – The radio ads proved to be a big flop
  90. 90. Superb marketing principle – 17Combining all your marketingtools take you into the sky• For e.g. – He went back to his phone calls – There was hardly any cold treatment – This was because of the radio ads
  91. 91. Superb marketing principle – 17Combining all your marketingtools take you into the sky• What we learn from this is that when you combine your marketing tools they increase the penetrating power of each of them• If a print ad is given as a follow-up the result would be even better
  92. 92. Superb marketing principle – 17Combining all your marketingtools take you into the sky• After choosing a particular area as a target give out a series of print ads• The result would be amazingly fantastic
  93. 93. Superb marketing principle – 17Combining all your marketingtools take you into the sky• Quoting a higher price in ads during the first round of marketing and follow it up with a little reduced price• The real price of which you want to seal should be the second price tag
  94. 94. Superb marketing principle – 17Combining all your marketingtools take you into the sky• Even if the response for a print ad circulated may quote a higher price• Subsequently you send direct mail and you see that the turnout would be astounding
  95. 95. Summary• This chapter deals with certain marketing principles• Do not pin all your marketing goals on a smaller marketing tools
  96. 96. Summary• A coupon that a prospect can clip and send in increases the response• But if you are a professional consultant drop the idea of a toll free phone system
  97. 97. Summary• Try to minimize using pictures and photograph in your sales ads• A picture is not worth a thousand words
  98. 98. Summary• Avoid negative advertising, which can easily backfire• Make your sales letter look like a letter that has been typed up by a friend and the results will be superb
  99. 99. Summary• To sell prevention you have to have a product that fits just right• Run an ad once and it bombs
  100. 100. Summary• What is real is the perception in the mind of the customer• So get your product an exposure in the columns of a prestigious newspaper
  101. 101. Summary• Likewise hold seminar seminars and press conferences• There should be a reason for a person a product
  102. 102. Summary• Do not underestimate the customer• The bribing strategy should work powerfully
  103. 103. Summary• You are the best investment• Better start your business• Challenge yourself – put yourself at risk
  104. 104. Summary• Combine your marketing tools strategically• Combine and co-ordinate your marketing tools to get a multiplier effect
  105. 105. End of Chapter 2Superb Marketing Principles
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