Excellent post, Danny! It is crucial to remind everyone not to overpromise on their products. For products with a short life-cycle, the advertisements may lure in a high number to try the product, creating an initial spike in sales, but consumers will be disappointed, and sales will then plummet (this is why, when I would test concepts in a market research setting, we always recommended testing the product, not just the idea, to better fine-tune year 1 sales volume). Even products that are decent should always be careful not to set expectations too high. How does a brand manager, or even an ad executive know if these expectations are set too high? That's where market research comes in! (Unless you know you have a poor product - if that's the case, while you may create an initial sense of innovation or buzz, it is not sustainable, and the damage in long run is not worth the initial spike)
Any promise must be owned on the "inside" if it is going to be kept on the "outside". Who's to blame? The CEO who allows a culture of silos to persist. Hard to believe any company is still making this mistake.
Danny
· 1 year ago
@ Gayle. I've always been a strong supporter of market research before any campaign (marketing, advertising or PR). The old way of "throw everything at the wall and hope something sticks" just doesn't cut it any more, and slowly but surely businesses are realizing this. Sure, as you rightly mention, you might get an initial buzz, but real success comes from longevity and that in turn comes from quality and reliability.
@ Susan. The higher you go in these kinds of companies the more often you find mistakes being made - from teaching to education to leadership. Scary stuff indeed.
Mike Smith
· 1 year ago
THANK YOU! I thought I was the only one who totally hates the new volcano taco. I ate it three times - just to make sure. Big fail for the marketing efforts to hype it all up.
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<abbr>Gayle Spook´s last blog post..The Problem with Big Corp, or "Lost in Translation"</abbr>
@ Susan. The higher you go in these kinds of companies the more often you find mistakes being made - from teaching to education to leadership. Scary stuff indeed.
<abbr>Mike Smith´s last blog post..Past, Present and Future</abbr>