How Marketing Super Achievers Think
Marketing has been for long been taken to be synonymous to sales at least in India. But if we see super achievers in the area of marketing we can learn a lot from them. There are some simple points to become a super Marketing achiever:
1. Study the behaviour and reaction pattern of market players- This will give a strong idea regarding triggers in the market. It will also help us to realise that different markets have different strategies working. Similarly a Product Market will have different strategic approach than the Service Market. Similarly B2B market will display a different set of strategic norms. Fina;;y same product market in India will have a different patter than say USA. This will depend on the market saturation point, point in the Product life cycle as well as stage of learning curve of the customer. Understanding the behavioral pattern and studying other markets equips us with a strategic tool kit of a different kind.
2. Understanding the pace of Consumer Learning- A consumer’s mind is perhaps the most dynamic part. Be it preferences, or Purchase decision making or zone of tolerance or customer delight, parameters are always changing. With the incoming of social media and more interaction thru the electronic media now customer learning is much faster than 5-10 years back. With the changing lifestyles and values in life our consumption patterns are changing. Just for example gifting a box of sweets was received with lot of appreciation and admiration. But now as India heads to become the Diabetes capital of the world scenario has changed. This has drastically changed the gifting pattern in Diwali. So now new product as well as non edibles have entered the fray. One famous brand of chocolate is trying very hard for the past one decade to change customer preferences from ethnic sweets to chocolate. With the emerging of new consumption patterns the demand scenario changes. This leads to sunset and sunrise for different sectors. If we can see this before time we are a winner. This needs minute observation of the lives of the customer. Understanding his/her struggle of life, their aspirations and dreams.