Based on many years of developing, introducing, new products and services....I have been recently asked "What would be your Cardinal Rules of Marketing?"
I thought that was an interesting question and got me thinking about various insights from the real world of marketing. So shown below is my list....enjoy...see how many might apply to you.
BRODY’S CARDINAL RULES OF MARKETING
- fail often & quick.....then debrief to learn
- don't listen to what people say.....watch what they do & buy
- don't try to predict behavior....observe your audience
- don't roll out new products/services....perform limited tests, first
- with fierce competition, you can't afford to wait to get things 95% right......get it 70% - 80% then start selling somewhere & tweek it as you go
- perception is reality.....find out what's in their mind
- people don't buy based on price ......think Starbucks
- to innovate....get out of your office
- prospects often don't know what they want.....give them options to choose
- narrow your focus.....be black or white....not grey
- all of marketing is about segmentation.....don't try to be all things to all people
- prospects don't want to be sold today......provide information & market intelligence for them to buy
- everyone in your firm can influence & effect your brand presence.....constantly guard & polish it
- don't do mother-in-law research....does any grandparent have an ugly baby? Ask your customers & prospects for feedback....several times per year
Sunday, August 15, 2010
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