Monday, September 7, 2009

Yes, I'm reading his book "Buy-ology" right now..

A few points:

(Disclaimer: He said the following. I do not in any way support what he's saying. I dont even have an opinion on it. The words in italics are just my observations and thoughts.)

Does product placement work?
Qualified no.
(Interesting. Then why the hype on it these days?)

How powerful are brand logos?
Fragrance and sound are more potent than logo alone.
(Point taken. I remember the "Humara Bajaj" song but not the logo.)

Does subliminal advertising still take place?
Yes
(Look up subliminal advertising )

Is our buying behaviour influenced by the world's major religions?
YES and increasingly so.
(Not surprising. Buying behaviour is influenced largely by emotions and not much of rationality enters into it and our response to religion definitely falls into the 'more emotion, less logic' category. Also with all the turmoil in today's world, more people are falling back on spirituality and religion to show them the way.)

What effects do disclaimers and health warnings have on us?

(Not the intended one. The irony is that research actually shows it encourages people to indulge regardless.
)

Does sex in advertising work?
Not really.
(Finally!!! Someone tells those 'creatives' as well!)
Fact #2

80% of all brands need to include tweens in their marketing strategy. Has that always been the case? Whatever happened to the days when mothers controlled the purse and influenced the purchasing decisions at home?

MARTIN LINDSTROM: Things switched about seven or eight years ago (around 2000). Kids have more time than their parents. Parents are also beginning to feel guilty about not having enough time for their kids, especially as there are more divorced parents. It's not a question of whether that's a good or bad thing for brands; it's just a different audience today.

Term of the day:
"Contextual branding," which is about sending the right message to the right person at the right time.
Fact # 1:

Bulk of all communication today--83%--appeals to sight, leaving a paltry 17% to the other senses. Surprisingly, smell is the second most important sense after sight, and not sound. In fact, 75% of all our emotional connections are based on smell and yet, less than 2% of today's communication takes scent into account.

In a test conducted by Dr. Alan Hirsch, two identical pairs of Nike running shoes were placed in separate, but identical, rooms. One room was infused with a mixed floral scent. The other wasn't. By an overwhelming margin of 84%, test subjects preferred the shoes displayed in the fragrant room. Additionally, they estimated the value of the "scented" shoes was, on average, $10.33 higher than the second pair. Similar tests using belts showed an even higher preference of 91% for the ones in the scented environment.

All our sensory touch points are essential to building the brands of tomorrow. We cannot afford to overlook any of them. It could be this very reason why the most iconic of brands, Coca-Cola, is suffering. For whatever good reason the soda giant has ignored the fact that the majority of consumers believe that Coke tastes better when drunk from a glass bottle. Better than if drunk from plastic or a can.

Just as Coke has moved away from using glass bottles, so has the brand been losing ownership of the tactile soft-drink experience. According to our study, Pepsi-Cola now has the tactile lead with 55% of consumers claiming a stronger tactile relationship with Pepsi, versus Coke's 50%.

Sensory touch points also extend to color, and here again Coca-Cola has failed to maintain its leadership position. Well known for introducing Santa's signature Coke-red suit in the 1950s, the color red has been associated with the brand for decades. But beyond its stalwart U.S. market, Coke's "ownership" of red has slipped. Today, the British telco Vodafone is more closely associated with the color. In another color irony, IBM, once known as Big Blue, has lost the ownership of the color blue to Pepsi.

The lessons here are simple:

a) We are all created with five senses.

b) The loss of even one of them creates suffering.

c) They are essential to our lives, and as such they should be essential to building our brands.


Moral of the story: Before you neglect the sensory assets of your product, reconsider the importance of each touch point. You could find the very differentiation you've been looking for.

Then you protect it, before your competitor realizes your super sensory secret.