the purple cow notes p. 1-26. additional p’s positioning – identifying a market niche for a...

The Purple Cow Notesp. 1-26

Additional P’s

• Positioning– Identifying a market niche for a brand, product or

service utilizing placement strategies– Price, promotion, distribution, competition

• Publicity– Managing the public’s perception of a subject– A component of promotion– Finding ways to attract public interest

Additional P’s

• Pass Along– WOM Marketing (word of mouth)– Referral Marketing– Email Marketing– Social Media sites (Facebook, Twitter, etc.)

• Permission– Asking permission to send information to prospective

customers– Mostly used by online marketers– Marketing centered around obtaining customer consent to

receive information from a company

The New P - Purple

• Idea behind the Purple Cow• The book is about the why, the what and the

how of remarkable• Remarkable Marketing is the art of building

things worth noticing right into your product or service

The New P - Purple

• The postconsumption consumer is out of things to buy– We have what we need, we want very little, and

we’re too busy to spend a lot of time researching something

– Why you need your product to be a purple cow

Before, During and After

• Before advertising, there was word of mouth• During advertising, the magic formula is if you

advertised directly to the consumer, sales would go up

The Greatest Thing Since Sliced Bread

• Wonder bread was more of a success than Frederick Rohwedder due to marketing– A good product with lousy marketing had very

little chance of success– The packaging & advertising helped this new

invention succeed

Why You Need a Purple Cow

• Tombstone pizza example– Invent a product everyone wants, advertise it to

the masses and make a lot of money• Aspirin example– Initially very easy to market – everyone would

want pain relief– Hard to market a product in a saturated market

where there are hundreds to choose from

Why You Need a Purple Cow

• If an audience doesn’t have the money to buy what you’re selling, you don’t have a market

• If an audience doesn’t have the time to listen to understand your pitch, you’re invisible

• The world has changed. There are far more choices, but there is less and less time to sort them out

TV-Industrial Complex

• Concept:• Find a large market niche that’s growing and not

yet dominated• Build a factory• Buy a lot of TV ads• The ads will lead to retail distribution and sales• Sales will keep the factory busy and create

profits

TV-Industrial Complex

• Revlon & Cap’n Crunch examples • TV commercials are the most effective selling

medium ever devised

TV-Industrial Complex

• The original beetle– Sales languished until the use of brilliant

advertising– On the basis of great TV advertising, the original

beetle was profitable in the US for more than 15 years

– Original beetle TV industrial vs. new beetle Purple Cow