Term
| What are the P's of Marketing? |
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Definition
Product
Pricing
Promotion
Positioning
Publicity
Packaging
Pass-along
Permission |
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Term
What is the New P?
What does it mean? |
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Definition
New P = Purple Cow
Purple Cow = Amazing, standout, remarkable |
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Term
| What is Remarkable Marketing? |
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Definition
| The art of building things worth noticing into your product or service… not adding it on after |
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Term
| What is TV- Industrial complex? |
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Definition
| The symbiotic relationship between consumer demand, tv advertising and growing companies that were built around investments in increasing marketing expenditures |
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Term
| What is a post-consumption consumer? |
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Definition
Is out of things to buy.
They need/want little |
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Term
| Describe a Marketing department? |
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Definition
| It takes a nearly finished product or service and spends money to communicate it’s benefits to a target audience…no longer works |
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Term
| What kind of approaches are we left with? |
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Definition
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Term
| What did we have before advertising? |
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Definition
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Term
| What do we have during advertising? |
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Definition
| A combination of increasing prosperity, consumer desire and tv/mass media = advertise directly to the consumer and sales would go up |
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Term
| What do we have after advertising? |
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Definition
| We're almost back to the start. instead of products succeeding by slow word of mouth, power of networks allows remarkable ideas to diffuse through parts of the population at great speed |
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Term
| Why are the old stuff/ways no longer working? |
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Definition
| We’re too busy to pay attention to the ads but we want stuff that works and solves our problems desperately |
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Term
| What was invented in 1912 and by whom? |
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Definition
Otto Frederick Rohwedder invented sliced bread |
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Term
| Did Ottos Frederick Rohwedder's invention succeed? |
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Definition
| It failed miserably to poor advertising...Wonder made it work with it's packaging and advertising "builds strong bodies twelve ways" |
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Term
| Who wrote "The Pursuit of Wow" and what was the message? |
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Definition
Tom Peters
The only products with a future are those created by passionate people |
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Term
| Who wrote "The One to One Future" and what was the message? |
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Definition
Pepper and Rogers
It's cheaper to keep an old customer than it is to get a new one |
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Term
| What were the 4 kinds of people Peppers and Rogers described? |
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Definition
Prospects, Customers, Loyal Customers, Former Customers
Loyal customers are often happy to spend more money with you |
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Term
| Who wrote "Crossing the Chasm and what was the message? |
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Definition
Geoff Moore
New products and ideas follow a curve
They will begin with innovators, then early adopters, early and late majority, laggards
the following shows these groups with the black rises depicting how many people are in each
[image]
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Term
| What is the "squeeze play"? |
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Definition
Marketers can’t get the word out because jaded consumers refuse to share their attention. Customers rely on their tried-and-true suppliers or on their network of smart friends instead of studying the ads on TV.
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Term
| What were the general sizes of speed bumps? |
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Definition
| 3-4 inches high, a foot wide and 12 feet long |
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Term
| Where and when was the first speed bump built? |
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Definition
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Term
| Where and when was the first speed bump built in Europe? |
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Definition
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Term
| What was the objective of speed bumps? |
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Definition
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Term
| How does a speed bump apply here? |
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Definition
| It can create friction by slowing the selling process down and make for a more meaningful interaction |
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Term
| How long were Honda's tv ads for the Fit? |
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Definition
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Term
| Where were the Honda Fit ads placed? |
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Definition
| They were placed at the end of commercial breaks |
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Term
| Why were the Honda ads placed where they were? |
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Definition
| As an anti-zapping strategy against DVR users. When DVR users stopped fast-forwarding the machine automatically jumps back a few seconds which caused them to see the last few seconds of the commercial break which is where these ads were. |
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Term
| What did they create in Belgium? |
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Definition
| A one second ad for breath mints called "One Second" |
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Term
| How many times was the Belgian ad run in one day? |
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Definition
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Term
| What did Clairol tell women in the 1970's about their new rinse? |
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Definition
| To leave it in their hair for 30 minutes |
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Term
| Why did Clairol tell women to leave the rinse in their hair for that long? |
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Definition
Because women were used to salons taking that long.
It added credibility to their product. |
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Term
| How long did Clairol's product actually take to work? |
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Definition
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Term
| What changed Buckley's market share from 2% to 12.2 in 1987? |
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Definition
They changed their advertising to say
"Buckley's tastes really bad. And it works." |
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Term
| How much did Buckley's sales increase after changing their advertising? |
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Definition
| Sales increased over 500% |
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Term
| Where did Van Halen like to play? |
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Definition
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Term
| What was the rider Van Halen hid in their contracts? |
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Definition
| "All brown M&Ms had to be removed from the backstage area" or the band would forfeit the show with payment |
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Term
| What was the reasoning behind Van Halen's Brown M&M rider? |
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Definition
| It was a warning that the promoter hadn't read the entire contract which could possible put the band in harm's way. |
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Term
| What would David Lee Roth of Van Halen do if he found brown M&Ms? |
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Definition
| He would then insist on double checking all the staging to see if anything else was missed and they always found something that could put them in danger. |
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Term
| What was the name of the book Atul Gawande wrote and who was he? |
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Definition
"The Checklist Manifesto"
A Boston surgeon |
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Term
| How many people did Gawande say died in the US after surgery from preventable mistakes and infections? |
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Definition
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Term
| Since the 30's, how have pilots prevented errors? |
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Definition
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Term
| What did Gawande create for operating rooms? |
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Definition
The Surgical Safety Checklist
[image] |
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Term
| Hospitals that used the checklist saw how much of a drop in operating room mistakes? |
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Definition
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Term
| Some Doctor's resisted the Surgical Safety Checklist. Out of those Doctor's how many would want the list used if they were having surgery? |
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Definition
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Term
| What does the Black side of the Yin/Yang symbol stand for? |
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Definition
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Term
| What does the White side of the Yin/Yang symbol stand for? |
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Definition
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Term
| What does the Yin/Yang symbolize? |
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Definition
The duality of life.
Nothing can exist without it's opposite.
Summer - Winter
Night - Day |
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Term
| What do the small dots of opposite colours mean in the Yin/Yang symbol? |
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Definition
| That inside every Yin there is Yang and vice versa |
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Term
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Definition
A secret ingredient to life
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Term
| We don't feel we heal if we don't feel pain causing Johnson and Johnson to do what? |
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Definition
| They added a drop of alcohol to their painless antiseptic cream. People didn't believe it worked until they did and then sales spiked. |
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Term
| What did the 5 step checkout offer people? |
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Definition
It offered them the feeling of added security.
This increased sales |
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Term
| Why are over 50% of returned items still in perfect working order? |
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Definition
| Because people simply couldn't figure out how to use them. |
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Term
| What is the "fiddle tolerance"? |
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Definition
| It is the amount of time people will "fiddle" with something before giving up. |
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Term
| How long is the fiddle tolerance? |
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Definition
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Term
| Who sees product packaging as a way to control consumers unpacking and navigating through new unfamiliar technology? |
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Definition
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Term
| Why did Steve Jobs make the unpacking of the mouse a multiple step process? |
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Definition
| So when it came time for people to use the mouse, they were familiar with it. |
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Term
| How has Apple's packaging/unpacking process helped them? |
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Definition
Product returns are at an industry low
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Term
| How did China help Porche's sales during the recession? |
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Definition
They forced a luxury tax on imported European cars with high horse power engines.
This caused people to feel more prestigious by paying $35,000 more for a car. |
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Term
| How do charities control fundraising donations? |
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Definition
| By placing the amount they would like to receive between a high amount they don't expect to receive and a low amount that make people feel cheap if they choose it. |
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Term
| What are positives of speed bumps? |
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Definition
| They add credibility and steer people to choose a desired answer |
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Term
| Why can't most people buy your product or service? |
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Definition
| They don't have the money or time or just don't want it. |
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Term
| What are the significant challenges we face when launching a new service or product? |
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Definition
Obvious targets are gone. People aren't likely to have easily solved problems.
Consumer ignore you making them hard to reach.
Satisfied customers are less likely to tell friends |
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Term
| When was Cap'n Crunch cereal made? |
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Definition
| After the commercial was made. |
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Term
| Why did Quaker make the Cap'n Crunch cereal when they did? |
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Definition
They knew that the commercial could be run enough times to be plant the cereal in kids head.
The cereal was in fact secondary |
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Term
| What is the most effective selling medium ever devised and why? |
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Definition
TV commercials
Companies perfected them and exploited them |
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Term
| What was the old rule of marketing? |
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Definition
| Create safe, ordinary products and combine them with great marketing |
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Term
| What is the new rule of marketing? |
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Definition
| Create remarkable products that the right people seek out |
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Term
| What was Otis Elevator's "Purple Cow"? |
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Definition
A centralized control panel that allowed people to key in the floor they were going to.
This reduced wait times and made the elevators more express. |
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Term
| When do the bulk of product sales come? |
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Definition
| AFTER a product has been adopted by the consumers willing to take a chance on something new. |
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Term
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Definition
| They are the people in a given market who like having something first |
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Term
| Who are the Early Adopters? |
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Definition
They're the people who could actually benefit from using a new product.
They are eager to maintain their edge over the rest of the population by seeking out new products and services. |
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Term
| Who are the early and late majority? |
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Definition
| These consumers don't yearn for a new product or service that can benefit them, but if enough of their peers try it and talk about it then they are likely to come along as well. |
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Term
| What are two important things to remember about the early and late majority? |
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Definition
ONE: They're good at ignoring you, believe they have problems more significant than you can solve, they're not willing to invest the time to listen to you.
TWO: They don't usually listen to the innovators either, they want protocols and systems and safety that new products rarely offer. Most products never get far enough to reach them |
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Term
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Definition
They're the ones who won't buy your product or service until it is obsolete.
They usually won't buy something new until the item the usually use is no longer available or is obsolete or impractical |
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Term
| What are the P's of Marketing? |
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Definition
Product Promotion
Communication Place
Distribution
Price |
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Term
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Definition
| What the business sells to its clientele. |
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Term
| What is the Client Experience? |
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Definition
| How the client feels throughout the process of purchasing / owning the product. |
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Term
| What are the features of a product? |
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Definition
| The characteristics of a given product. |
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Term
| What are the Benefits (WIIFM - What's In It For Me) of a product? |
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Definition
| How a product’s features make the user’s life better. |
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Term
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Definition
The specific type of client the business intends to sell its product(s) to.
• Demographics
• Psychographics |
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Term
| What is the production process? |
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Definition
Creating a step-by-step description of how the product and client experience is created.
• Ensures Quality & Consistency |
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Term
| What is your direct competition and a couple of examples? |
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Definition
Direct Competition
• Another business which sells a similar / comparable product / service.
Example
• Wedding Photographers Vs. Each Other |
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Term
| Who is your indirect competition and an example? |
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Definition
Indirect Competition
• Another business which sells to a similar target market
Example
• Wedding Photographers Vs. Florists |
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Term
| What does purple cow call ideas that spread? |
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Definition
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Term
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Definition
They are the experts who tell everyone about a new product or service on which they are a perceived authority.
They launch and maintain ideaviruses |
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Term
| How do you break through to the mainstream? |
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Definition
You have to target a niche instead of a huge market
After it dominates a niche it will migrate to the masses |
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Term
| What analysis should you put new product developments through? |
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Definition
How smooth and easy is it to spread?
How often will people sneeze it?
How tightly knit is the group you're targeting?
How reputable are the people promoting your idea?
How persistent is it? |
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Term
| What or who should your ads cater to? |
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Definition
| To the customers you'd choose if you could choose your customers |
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Term
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Definition
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Term
| What is a benefit of the purple cow? |
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Definition
They have a half life.
You don't have to be remarkable all the time |
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Term
| Who introduced KIWI and what was the original name? |
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Definition
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Term
| What did Zespri market and how? |
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Definition
The new Kiwi
Their niche = Latino foodies
zero advertising
in-store taste testing
they sold more than $100 million worth |
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Term
| Who are the big winners in the world of the cow? |
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Definition
| mid-sized and smaller companies |
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Term
| How does Logitech stay a cow? |
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Definition
They don't change the interior of their products...nothing really to change
The change the product experience for the consumer
the look and feel and functionality |
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Term
How did Lionel Poilane become world renowned?
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Definition
He pioneered the use of organic flour in France
refused to hire bakers only apprentices
refused to bake baguettes
acquired the largest collection of bread cookbooks and studied them |
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