Tag: marketing strategy
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Scarcity is a tool
I have been personally victimized by the scarcity game. I have made purchases I would later regret or mentally wrestle my credit card down all in the name of getting in on the limited-time only sale, or being worried items would sell out. Driven by my own experiences, I have been digging into this tactic.…
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That one star review is more useful that I thought
I remember that moment vividly because it annoyed me. How could she penalize the brand because she was getting exactly what they said she would? But now I see it differently. That one star review was actually vital information. Let’s get these things out of the way. I don’t think they should start adding pockets…
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Why Replay Jeans is partnering with football clubs
Previously, I wrote about Replay’s partnership with FC Bayern München. The brand is the official denim and formalwear sponsor of the team. To me, it seemed odd, but looking into the brand, I started to understand the strategy. In 2016 interview, Replay pointed out that Germany is a key market for them. Looking at the…
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What is the deal with prestige pricing?
I found an article which by research terms is very old, being from 2003, but stay with me. The authors, Kumcu and McClure, are going at the idea prestige goods, or luxury goods as I will call them, are often talked about by professionals as having a backward demand curve. In other words, people explain…
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Chanel opening its Lucky Chance Diner in Brooklyn this weekend
Maybe you’ve been sitting in a local diner and thought to yourself, if only this were… fancier.” Well, here is your chance to experience one of the most luxurious brands in the setting of a diner. Chanel is set to open its Lucky Chance Diner in Brooklyn for one weekend only. They will open doors…
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It doesn’t matter what you’re selling if no one’s buying
I believe one of the myths about marketing is that it is all about getting people to buy what you have. If you make a slick ad campaign, you can get people to buy the product that you have sitting on your shelf. That’s not how it works. Or rather, it’s not how it is…
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And now the buyer: Customer roles
We’ve come to the final role, the buyer. As I have been discussing the four customer roles, this one I suppose could be a bit confusing. I just wrote about the payer. What is makes a buyer different from a payer? This might be nuanced, but the buyer is the person who actually acquires the…
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Those who seek: Time to think about the seeker customer role
Yesterday, I posted a quick overview about the payer roles. Now, let’s spend some time thinking about what that would mean for your approach to customers. A quick note: As you go through this remember that these roles could be held by completely different people in the decision process, but it might be helpful for…
A Wren Says 