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7 Ways To Profit From Other Peoples Products
If you don't possess the time, money or inclination to create your own hot selling product there is plenty of scope for profit by using other people's. In this quick article I'll detail the best ways to take a third-party product and use it...
eBay buys Shopping.com - Boon or Bust to Online Merchants?
My first reaction: This could be big
The players:
eBay
Largest online auction site where buyers bid to buy products. Arguably the most well-known e-commerce site with over 100 million registered users. Billions in sales are transacted here...
Lessons From the Olympics for Your Business
Are you all caught up in the Olympics for the last week and a half? If so, you aren't alone. Did you know there are lessons to be learned for your own business, when you watch the events? Businesses are doing great with an association to the...
Lessons from the Power Brands
Lessons from the Power Brands You have heard of power brands like Harley-Davidson, Nordstrom, and Domino’s Pizza. Their names evoke specific emotions and feelings. Each of these brands stands for something special. They are the modern day version...
Rating the eBook Compilers
Now that you've finished writing your eBook and have a basic understanding of what an eBook compiler does, you may be feeling overwhelmed by the number of compilers on the market. To help you make your decision, I have tested and reviewed the...
Setting Up Your Dream Home Office Space
One of the great privileges of the direct selling profession is being able to work from home. But with the freedom of your career, also come the challenges. The sink is full of dishes, your son left his crayons on your desk, and the laundry is piled...
Small Business And Branding – Why And How?
When we speak of branding most of the time people try to relate it to big business house, however, the fact is that every business needs to establish their brand in order to survive the competition. This is nothing new; experts and management gurus...
Ten Basic Steps For Building A Web Site That Works
"1. Assemble a web site development plan that is integrated with
your overall marketing processes; the content should be
consistent with offline materials, the graphics/images don't
have to be identical with traditional media, but should...
The Branded Customer Experience – We never say no
Colin Shaw urges you to ensure that your branding and marketing activities are aligned with your Customer experience
I work with a client in the North of England. Whenever I visit them I always stay at the same hotel. At this hotel...
The super brand Marlboro
The Marlboro cigarettes story began in 1847 and was marketed mainly to women in London. This marketing strategy did not go over so well. In the 1920's, Marlboro cigarettes were then introduced to the American market as the cheap Cigarette of choice...
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“Buzz Marketing: Marketing to non-marketable customer”.
Buzz marketing, also known as ‘word-of-mouth marketing’ ‘guerilla marketing’ or ‘stealth marketing’ is an art of human kind to involve the trendsetters in any community to carry the brand’s message, thus creating an interest in, and a demand for, the brand with no overt advertising.
Nirmalya Kumar, professor of marketing, director of center for marketing and co-director of A.V. Birla India at London Business School.
When Dietrich Mateschitz formulated the drink “Red Bull” in 1987 for Australian market, bars initially refused to stock it, seeing it as more of a medicinal drink than a mixer. However snowboarders and clubbers soon recognized. The boost it gave them. They started to bring it with them to non – alcohol bars and pubs.
Red Bull has mastered the buzz marketing. In the 8 sales area in US, the representative scouts for the hot spot. They distributed their branded refrigerator and some goodies to the bars and clubs. If other conventional establishments ask for Red Bull, they refuse them to retain the credibility and uniqueness of their community and clubbers. To connect this community, Red Bull use to organize a two – week annual music festival.
Red Bull first marketing technique was to distribute and target the teenagers and college goers. They went where these guys goes. Then Red Bull went around the cities full of Red Bull cars and distributed the drinks to anybody who need energy- Free, the construction workers, Athletes all.
Coke and Pepsi recognized a new segmentation of their market and tried to capture it with big marketing budget. They created energy drinks. But after millions of write off they
are distance number 3 and 4. Red Bull is still the king of energy drink with 65% of market and that is with the fraction of their spending.
Five years back on internet, Google started it operation in the dorm of two Stanford guys (You do not need to know there name, I guess) they created a system for search and marketed it on net with minimal of advertising. End result, after 3 years they become numro uno no in search – marketing in the presence of heavy spenders like Yahoo, overture etc
That the power of Buzz marketing. Gone are the days when you write a Cheque for your ad agency and agency will do the marketing. According to Philip Kotler, advertising is a lazy way of marketing and branding. You outsource almost everything, even your brand’s undergarments. Traditional marketer thinks that job is over. But buzz marketing is an engaging art of marketing. It is a hard way to market a product and services. Most of marketers do not like it. Because they like their comfortable air-condition rooms.
But in real world, you can’t close your eyes and think that your competitor will take pity on you. They are here to eliminate you. Buzz marketing is not a passé’ anymore. It is here and happening.
CEOs, be aware, if your people are saying they need different budget for branding, marketing and sales. Think again, someone is not ready to move his butts.
About the Author
Arvind Kumar is an Electrical Engineer from a premier Institute, Indian Institute of Technology, Delhi, India. He has 3 years experince in marketing business consulting services and marketing services. He is founder and CEO of www.nuttymarketer.com
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