Science of Sales & Marketing

Corporate responsibility to serve customers in emerging markets is being the key factors for this year for building brand recognition. As per the recent ranking compiled by Millward Brown a market research firm  Google Inc has knocked Microsoft Corps being the world’s top ranked brand.

Google heading among well-established brands like General Electric No.2, Coca Cola No. 4 Wal-Mart at No.7 and IBM No.9. China Mobile is the top ranked brand from non US-based Company, which ranked at No.5. As per Milward Brown, The ranking were based on publicly available financial data along with primary research, including interviews with a million consumers worldwide. Google, which earlier ranked at No.7 directly, jumped on No.1 that prove that the search results become everyday name through word of mouth with little advertising. In spite of the new window vista OS with massive global marketing Microsoft has slide down to third place from first.

Eilen Campbell the Global Chief Executive of Milward brown said the ranking showed a blended of good business leadership, responsible financial management, and powerful marketing that can be leveraged to create and grow corporate wealth”.

The second life can be considered as a new marketing initiative though it is still in young stage, if advertiser misses the new way to communicate from the very beginning it would be too late to jump on the second life bandwagon. It is the way of communication to establish and underlying your presence among young people where audience seems to be exceptionally more important. The corporate are on the move to find the way to create longer-term presence there and making the ad campaign more relevant in the virtual environment.

In my opinion you need to create your fully automated presence there by addressing the need of both virtual and realm throughout making your ad program more interactive where the resident navigate the world through a dynamic map. Your brands need new look and new meaning to attract youngsters on second life as the brands that exist in the real world are becoming boring due to the conventional forms of address.  However at present we can’t evaluate the brand loyalty and effectiveness  of particular product at second life because currently there is no scale to measure and evaluate the ongoing performances…but it could be a good start no doubt. Check few available brand at SL. http://www.content.zdnet.com/2346-12408_22-62330.html

The individual selectively pay attention to things which are interest to them & avoid things which may not be directly relevant, so if you are promoting a product or services targeting to a niche, you need to give importance to the stimuli factors as well which can directly relevant to the interest and need of particular class of people you are aiming.   Each person sees, organizes, & interprets things differently, their views are filtered by perception, which is unique way in which each person sees, organizes, & interprets things.

The selection of stimuli is not random, but depends upon certain factors that relate to personal profile, age, sex, interest, and intensity its size, color, movement, repetition & so on. Stimuli is organized to give some meaning to them as these factors is collated to form an opinion, further depending on the intensity, an individual opinion can be converted to mass opinion. You can avail opportunity to fill the gaps in incomplete information to make them more meaningful & understandable especially if you know the stimuli factors that can impact a large viewers on the basis of experience, hunches & guess.

The information collected & organized remains useless, until some meaning attached to it. Interpretation is the most important element of entire perceptual process. You can change in attitudes, opinions, feelings, and impressions through stimuli factors.

When consumers travel international they experience the breadth of brand, which are available there, and hence more and more people traveling overseas and are getting more and more exposed to international brands.

Traveling in many ways is a predecessor for trading up; this might be the fastest growing segments, which combine mass and prestige. It might be happening across a wide range of products from bottled water to beer bottle and Cell phones to Car. I just want to quote a recent example; one of my friend recently bought BMW- the ultimate car on return from his US trip. I just asked him “why he has purchased BMW? while there so many other brand is available in lesser price ? He touched the car with tenderness and told, you don’t understand –“this is about the prestige and that I have longer attached with its functional, technical and emotional bond during my stay in US”, he added – most of the foreigners are driving this car, “I have paid a premium price for acquiring this car, it has the best engineering and ” if I can sell it after two years I can sell it 25% off from actual price”, on other hand “if I have bought another car I can get only 25% value of my car as resale value” after two years.

This reveals that consumers bring the ultimate “brand image” with them from their international trip and get attached with a particular brand. However the brand should have sound attribute from different aspect that usually a consumer perceive & in other point of view, although if the brand have attribute on high on emotional benefits but low on technical & functional side then the consumers won’t accept the imbalance.

According to Indian Luxury trends 2006 a study done by Technopak Advisors there about 1.6 million households earning over US $100,000 plus who spend about $ 9,000 on luxury and premium goods and services. The market is growing with these households by 14% where the market potential of about $ 14.4 billion.

There are growing classes of new generation affluent beyond the traditional rich; the new class includes top-level professional, CEO, Entrepreneur and small and medium retailers. This seems that the middle & upper middle class will keep moving to pure prestige hypermarket that include luxury and the value curve.

Another survey by AC Nielsen global online survey conducted across 42 countries which revealed that in India -41% respondents think sunglasses are the most sought after accessory, followed by belts (35%) and stationery (20%). That online report states 31% of Indians buy designer clothes and uplifting ones social status is the key reason behind the splurging. These middle & upper middle class seems moving toward hypermarket where there is ambience and prestige attached in buying even a daily usage product. I hope these growing segment that combine particular mass and prestige might be happening across a wide range of products & services in other developing countries as well.