Sunday, February 10, 2008

"What Consumers Want... As a Marketer if you had the power to know..."

As a professional in the "Product Development" business I get to hear and know all the time, directly from consumers, middle men, sales reps, etc.; what kind of products and services the consumers want and desire.

However, as a person with operational and fiscal responsibility towards my company I have to evaluate objectively whether I 'can' and more importantly 'want' to respond to those demands by putting out a product/service that is financially viable for us, and meets the needs to the consumer also.

In my opinion the reason the marketing landscape is littered with stories of failed products and services is because marketers put too much faith in listening to what the consumer wants. Most marketer's also forget way to often and conveniently how fickle the consumer is and what they want and need is a puzzling dynamic to the consumer themselves.

If you see the most common and basic service almost all consumers want across the globe is 'good supportive customer service', however almost every major global organization fails to deliver on that one service repeatedly. Even the ones that have failed or are failing on this count were once evangelical about the merits of deploying good supportive customer service, yet have in the long term determined that 'not' offering good supportive customer service does not alienate customers once a significant user base has been built up. Is there a certain loss of dissatisfied users - absolutely, however the gain from new customers more than offsets the potential losses due to consolidation and lack of competition that is now becoming rampant in various industries.

What all consumers want is choice, but due to market dynamics and governmental regulations we keep limiting that option. So in the end do we really want to listen to the consumer or just use that as an excuse to gain false empathy with the consumer, similar to the way Mel Gibson used his powers in the movie? Point to ponder....

"Brands on Steroids"

Brands on 'roids' quite an interesting concept...

Brands are built and nurtured in relation to the corporate business philosophy to execute a business plans, having said that let's examine the concept.

Usually, a branding plan is strategic in nature and to introduce a new greenfield product / service a 'nurturing' approach strategy may be employed to gain market traction in response to whatever opportunities and constraints that may have been evaluated by the business unit.

Sometimes a branding plan may be tactical in nature, to either be a offensive or defensive response to market opportunities, due to this issue you may see the emergence of - 'Brands on Steroids' syndrome. Sometimes the defensive or offensive tactical moves may open up significant opportunities for the brand to move in the limelight and from a tactical launch it may morph into long term strategic role, but still employing the original tactical moves that brought it in the limelight. The above would be the disciplined and rational explanation to the 'Brands on 'roids' syndrome.

However, as mentioned there are definitely situations when due to a change in management focus or to maximise short term revenue generation you may observe the same syndrome. When you see 'Brands on 'roids' in such a scenario quite often they follow the way of 'Humans on 'roids' , a brief spark and glimpse of a meteoric rise and then discarded and forgotten in the depths of oblivion once the spark is extinguished.

How can the next president better help small business and entrepreneurs thrive?


Ravi Deva wrote:

On 9/20/07 11:27 AM, Ravi Deva wrote:
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Thank you for your personal response.

I wasn't expecting any kind of acknowledgment from anyone, but it gives me a glimmer of hope that quite possibly some is at-least willing reach out and hear the opinions of the masses in an uncontrolled setting.

Who knows I might even vote for Mr.Obama, he seems to be the most viable candidate out there right now in the Democratic party, plus he represents Illinois my home state.

Thank you,

Ravi

On 9/20/07 10:56 AM, Barack Obama wrote:
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Thanks for participating in Barack's question on LinkedIn Answers – we
apologize for the delay in response. We received an incredible number
of thoughtful answers, and our campaign will continue to review all of
these answers in the days ahead.


Barack is committed to helping small businesses and believes they are
at the heart of the American economy. He is committed to expanding
opportunities and easing the everyday pressures so many businesses
face by cutting their health care costs, improving access to capital,
and investing in innovation and development.


He plans to fix our health care crisis and enable more small
businesses to provide affordable care to their employees. He will
expand loan programs for small businesses and create a national
network of public-private business incubators. He also will invest in
women-owned businesses, increase minority access to capital, increase
supports for businesses in rural areas, and work to close the digital
divide that limits the growth potential of many urban and rural small
businesses.


We appreciate immensely your willingness to share your insights and
suggestions on these issues and your help in achieving these goals.

For more information on Barack ideas for improving America visit:
www.barackobama.com/issues

Thanks,
Scott & Becky @ Obama HQ


On 9/13/07 9:41 AM, Ravi Deva wrote:
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For small business to truly survive - create a level playing field for all entrepreneurs and businesses.

Just because big business has the deep pockets to hire lobbyists and propel their agenda through the executive branch is the biggest impediment for the survival of small business.

Create an environment where there is oversight in the real sense for "MEGA" corporations so that they cannot create barriers for free and fair competition with their smaller rivals with the help of big government.

Small business does not require sops and platitudes, most of the people who start small businesses do so not because big business is incapable of providing new services, but because it will "NOT" provide new services in a reasonable manner and also because it is too busy trying to protect its turf.

Fix the Financial System and Commerce Policy! We are the world's biggest economy, but our fiscal and commerce policy is worse than that of the under-developed nations, not because we do not have the resources, but because we do not have the will to do the right thing.

We have been lurching from one financial disaster since almost the last 25years - the S&L crisis, Stock market crash '87, business downturn and internet bubble '90's, and now the real estate and mortgage crisis. What gives? You really don't expect us to believe that big government didn't see this coming to prevent it from happening. Not that I want big government to interfere in everything, but it still does so for the most useless of scenarios so it might as well do so in things that matter!

Stop the outsourcing and off shoring of everything otherwise in the long term the entire country will be a hollow shell with no economic activity.

How can a small business thrive in the this country when it has to abide by the laws on the this state against a business that thrives in an environment of chaos overseas, without any regard to US protections for safety, environment, respect for personal dignity, etc. That is not fair competition.

What will large corporations do next when the cost for off shoring and outsourcing to China and India become sky-high. Move those services and manufacturing to the poverty stricken African continent or some other low cost place because they can do it for cheaper than the Indians or Chinese?

Think of the long term when making decisions not just for the duration of your - Presidential Term!

Ravi

Question Details:
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How can the next president better help small business and entrepreneurs thrive?