He feels that the consumer is utterly irrational. The strategist is unable to comprehend why his strategies failed?
If we try to dig out for the core reason, it comes out to be - Emotional involvement and attachment of the customer towards ‘unthinkable/unexplored’ something. This is an aspect never touched upon by the failed strategists. They need to understand that customers are driven by emotions, and so should their policies.
When dealing with people, let us remember we are not dealing with creatures of logic. We are dealing with creatures of emotion, creatures bustling with prejudices and motivated by pride and vanity. --Dale Carnegie
The USP of a chief strategist should revolve around emotional understanding of the masses. To substantiate this fact, i would like to throw light on some rules for all those well-learned marketing strategists:
- Target customer - Any strategist should have a very clear picture of his target customers. You can't bring in a product directly into the market and expect a positive response. The strategist should be aware of the customers who are expected to buy or show interest in the product.
- Show it all - Throw light on the USPs of your product. Though it is applicable everywhere, it is particularly observed in the tech sector; take for instance the mobile market. It is solely driven by - The more you show the more you can sell principle. Prerequisites - Your product ought to have all those claimed features.
- Create an image - There are companies that do a lot to create an unmatchable positive image in the minds of not only potential customers but also non-potential customers. This point appears to be contradicting the first point, but actually it complements the first one. It requires you to identify target customers and also people who may influence the target customers or might become customers in future.
For instance, not everyone can buy a BMW, but the image it has developed over the period of time - aids in creating a positive feeling towards it. My Boss asks my opinion about a new car and i suggest why not go for BMWs XYZ model, it is fantastic. Why i suggested BMW? All because of the image it has in my mind.
Here i would also like to mention Bose - world's most renowned stereo company. They have a fantastic marketing strategy. You go to a BOSE store and they are so willing to show you their product. You are sure in your mind that you can't buy the costly stuff, the sales guy may also be sure that you won't buy this product. But after a display of the product, the respect BOSE gets from you suffice the BMW example.
And also very important to note here - In future, i may become a potential buyer of any of the above two - BOSE or BMW, hence the foresighted marketing strategy fits perfectly.
- Show care and respect for your customer and never take them for granted. No need to elaborate on this one i guess.
- Proper availability and providing options: Instead of your competitor cashing in on some new option or choice, why not you go for it? Provide as many options to the customers; supply products in various sizes, shapes and prices. Many a times it happens that the customer is willing to try a new or an improved product but can not find it in the market. This is very bad; the advertising cost incurred upon you actually is doing no good for you instead it is demeaning your name (brand).
An Rs.800 shampoo bottle would be unimaginable for a middle class woman but why not provide her with a Rs.15 sachet for one wash.
I have deliberately not mentioned money anywhere in this article because that would lead to umpteen new facets (Agree or disagree - money is THE driving force). It is one sole reason for majority of the strategies to fail. Unless a company provides customer's money's worth, it can't stand in the market place. It may sound clichéd, but actually it is the one mantra for success of any strategy - provide 'Value for money'. A company should sincerely be concerned with the customer's money.
So, strategists don't just be a marketing expert, but also try to comprehend various intricacies of the complex emotional behavior of humans in order to get your strategies in order.