Creating a Winning Marketing Mix - PowerPoint Presentation Example

LAW 22   USE THE SURRENDER TACTIC: TRANSFORM WEAKNESS INTO POWER  When one is weaker- don’t run to fight for the sake of honor, opt for surrendering.Surrender is not a defeat but a time to re collect your powers, time to think, time to re evaluate your strengths for a undefeated success. Don’t let your enemy keep on defeating and enjoying your failings. Give yourself a break and use the power of surrendering. This law is against the famous proverb “Winners never quit, quitters never win” but has its own influence and secret of success and triumph. Great men say Great about surrendering: William Booth says “The greatness of man power is the measure of his surrender”. Maya Angelou says, “At fifteen life taught me undeniably that surrender in its place was as honorable as resistance, especially if one had no choice” P.C. Cast- a famous writer says, “Surrender is indeed a powerful force” Let us take example of a football match. In a football match, the wise and high level players are the one who know that games are not won by showing full anger and frustration rather they do laugh during games, have no problem chatting and joking and most prominently they know the time to quit. This does not show their weakness rather prepare them to learn from their mistakes and prepare them for the best to come. Let’s not go far away and just look around, we can easily conclude that we are living in a world of anger and rage. Whether its reading the headlines of today’s paper or switching on to any political scenario, TV shows, sports and even movies are full of such stuff. But in all such cases, Powerful and reputed organizations know how to work away from deception of show of power and anger. They think rationally and realistically. They know that giving up some times is not a weakness! They are the portrayal of strength under control, like a well skilled and well trained war horse in the battle field. Example: Dick Cheney, Vice president USA. Dick Cheney quit University of Yale because of having problems adjusting with the traditions and culture of his class. After quitting, he took some time re-joining and then ultimately became vice president of America. George W. Bush once joked about him saying: "So now we make out that if one gets graduated from Yale, he become president of state, but even if one drops out Yale, you become vice president.” (Lutz 2014) LAW 23   CONCENTRATE YOUR FORCES    Look out for the positive things you have! Preserve your strengths and vigor by focusing at their strongest point. You will get more if you discover an affluent mine and you mine it deeper, rather than by just flying from one superficial mine to another. Remember strength defeats wide ranges every time. While finding sources look for one card that can give you consistent winning, go for one gold egg daily by hen rather than sacrificing in lust of all eggs and getting nothing in end. Remember, Steadiness and focus on one goal and total meditation towards it will devastate the competitors. • Do not lose single supporter who not only understands your faithfulness but gives you solid advice when you are doing wrong. Example: Walt Disney was fired from Newspaper Company because in the view of editor he lacked innovative ideas and thought but he kept focusing on his ability rather than others point of view and became famous cartoons creator of the world. That’s because he knew his strength and he truly aimed at that. In business management- Concentrate on forces means pondering on the best resources for the selling of your product/ brand. In can be using certain power like a force of sponsorship to create brand marketing and brand awareness. Japanese motor company “Nissan” sets its sister company “Infiniti” in United States in 1989 for producing luxury cars, sports vehicles, racing cars, crossovers etc with a brand assurance of “Inspired performance” To get its growth plan, it needs a highly appreciated and well-known platform to demonstrate the quality of brand to attract potential customers. They finally decided to partner with “Red bull” and racing super hero “Sebastian Vettel” to create brand image and to attract the audience from all over the world. Appointing best driver to be their brand ambassador earned the new luxury model a surprisingly high business. LAW 24   PLAY THE PERFECT COURTIER In the world of politics and power, only a playful courtier can make it through. Courtiers who are well aware of the art of flattering their masters and they give the impression of their own worth in a unique way. If one wants to be successful, he must be trained in the school that teaches manners and keys for successful courtiers and no one can prevent them from rising in the court of achievements and accomplishments. Certain rules of a perfect courtier are as follows Do not be showy. Do not praise yourself. Be modest. Practice in casual manner. Do not show you are burdened, rather take it light. Use option of “flattery” carefully. Prepare yourself as to get noticed. Do in Rome as Romans do, so deal other person in the level of his understanding and his language and style. Don’t bring bad news. Don’t criticize your seniors. Don’t ask for more favors Be very self obedient Don’t let anyone play with your emotions. Be a source of pleasure for those who are around you. Play the Perfect Courtier- Application in Marketing strategy: This law has been applied in marketing industry where customers are taken as bosses and masters and the entire psychology is to make them happy and satisfied to generate more and more profit. Studies on organization like Argos and Cadburys reveal that these possess strength of customer satisfaction. For achieving that, these companies invest in marketing research to have an idea about what is the demand of their consumer. Getting awareness about customer desire provide a focus to these for doing things what pleases their customers i.e. giving them product of need, in packaging of their choice, in accessible retail stores in the place they are more comfortable. Factors that lead to increased customer satisfaction are, Customer oriented products and services that will lead to profit ultimately. Giving personal attention and care to customers. Follow up after sale for feedback that may be helpful in future development. LAW 25   RE-CREATE YOURSELF The key to success is stop limiting yourself to what other people think about you and what they portray regarding your image. Always get ready to re-invent yourself, re-build your image, re create your own new identity to get the consideration. Never hesitate to try anything new and innovative. Be the inventor and blender of your own color rather than giving brush to someone else hand. Keep on adding striking and impressive changes in your gestures and dealings to impress the general public so that they have an impact of your personality and character. Remember, Manage and organize your appearance and emotions. Play sincerely, but not essentially be sincere. Create you character unforgettable. Do not stud yourself to the position people allocate for you. Re-Create Yourself- Application In Business Sector: Re-Branding Of Kellogg Cereals: In 1894 Will Kellogg invented a breakfast food in Michigan. At that time he did now identify that he has innovated a new trend in the breakfast trend of people all throughout the world. At start the marketing and promotion strategies were not on right way so the product did not get the expected praise and appreciation from public. As every firm is looking forward to give products their own brand image to encourage the trust and reliability among customers, they too put some revolution in their idea. It was in 1920;s when the company planned to introduce their cornflakes throughout the country to make a shift in the breakfast trend of the country. They hired a team of dedicated individuals who in return hired boy scouts and men to visit every door across country and present them with corn flakes and rice kriepies. This free sample giving scheme encouraged people to buy Kellogg’s cereals and benefited the company a lot. Their advertisements are covering every source, newspapers, posters, radio, televisions, internet, and cinemas to capture wide range of people. Their key to success is the re-invention of their product every now and then. For example, they have launched “Special K” with particular focus to women health, “Start” for players and sportsmen, “Frosties” and “Coco Pops” for children to increase their brand image and to show their individual concern about each class in society. So the constant innovations in their products attract customers towards Kellogg’s cereals and do amazing business for them. LAW 26   KEEP YOUR HANDS CLEAN     26th Law of power states to be a model of high efficiency and modesty. It warns about making mistakes and intimate not to dust your hands by blunders and slip-ups. Errors and blunders have no place in the cooperate world. Remember, Don’t do the dirty work by yourself. Hide mistakes. Don’t let anyone be aware of your nasty deeds as this plays a major role in your name. If some blunder has been done, don’t apologize again and again and don’t mention it to everyone. Not Keeping Hand Clean-Heavy Price to Pay! It was in August 2009 when the crisis services located in San Diego got a phone call from one of the persons in Toyota Lexus car as it was speeding up without control. As soon as the emergency service provider get aware of the situation, the passengers yelled that they were reaching the junction. Then there was silence at the other end. No one in the car survived. Toyota, a name of trust and reliability suffered a huge calamity of mistrust. Toyota’s delayed apologies, notices and disclosures caused the damage to its own reputation more than actual disaster. It seemed as the company was not bothering in start and only took action when they were forced to do so. This has caused a lost in their sales, customer confidence, market share and ultimately their brand image. Even their finest percentage dropped down to almost 30-19% as compared to their original repute. LAW 27   PLAY ON PEOPLE’S NEED TO BELIEVE TO CREATE A CULT LIKE FOLLOWING People want desperately to believe things. You can win their focus by telling them new things to believe and follow. Keep your words vivid but do promise them big things, motivate and encourage them, prefer vague thinking for them over rational thinking and ask them to make different sacrifices and favor for you. This will be an extraordinary power in your pocket.   Remember, Make it simple but unclear for people to understand. Give new words to your fuzzy ideas. Discourage their intellectual following. Stress on illusionary trailing of your vision. acts like a spiritual leader, let them give sacrifices on your behalf. always cover your source of income. Keep your supporters united by recognizing strangers as your enemies. BLIND FOLLOWING-APPLICATION IN BUSINESS: These power activities may be useful in creating effective marketing strategies or even when you hire such a person as your brand ambassador. All his/her followers will certainly buy your products and it will add to your business. Leonardo Di Caprio for TAG Heuer TAG Heuer, a name of a brand recognized for its watches. Leonardo Di Caprio is the brand ambassador for this product both by his viewpoint and achievements. Leonardo Di Caprio became famous after his outstanding performance in Titanic, and later proceeded with a successful acting profession. Using his name and fame, TAG Heuer is making business throughout but particularly famous among the fans of Di Caprio. LAW 28   ENTER ACTION WITH BOLDNESS If you are not sure about the outcome of a specific action, do not waste your effort in it. Doubts and uncertainty will have a negative impact on your actions. Nervousness is hazardous. So its better to be bold at every step of life. Remove confusions and uncertainties for a better successful life.   Remember, Don’t lie unless you are bold enough. Hesitant prey is encircled easily by lions. Being audacious in your aims and planning with make you stand out from herd. Uncertainties breed gaps and holes which may provide hindrance to the road of success. Application In Business- Introducing Winning Marketing Mix With Boldness: JD Sports is a renowned name for stylish sports and casual wears which introduces a balance of marketing mix with confidence and courage to attract consumers and to accomplish its growth of business. Marketing Mix is an amalgamation of four Ps. It is a criterion of observing the approach of companies towards their customers. Four Ps of marketing mix are actually selling the right product at the right place with right price by using right means of promotion. JD was established in 1981 in as a single outlet in Manchester UK and now have more than 335 outlets is leading store in UK of stylish sports and informal wears and has reputation for a collection of exclusive and elegant routine products. JD entrance in market with a perfect product mix is an ideal example of boldness. 1. Product: JD products are concerned not only the purpose of their origin but focuses on design, quality, branding and after sale services. They sell products for a lifestyle targeting different groups with full confidence to minimize any chances of failure. 2. Place: they cover almost every place that is suitable and easy for their customers whether its out of city locations or high streets, big shopping malls or selling through internet they want their innovative and creative products to be a part of every house. 3. price: price is another main feature while launching abrand, but if the owner is confident about the quality and the brand image that prevails in the society, price can be overcome with the right blend of marketing strategies. Keeping very low price can make the customer a doubt on brand quality, so JD has high price which depicts the value of their brand 4. Promotion: Different marketing strategies are the key of success in any brand. It can create and destroy the image of brand to a greater extent. JD has made their products image so high that they are away from their competitors to give them a competitive advantage. so full confidence in abilities, planning and launching of products leads ultimately to the success of the brand. References: i. Lutz, Richard. "23 Incredibly Successful People Who Failed At First." Business Insider. Business Insider, Inc, 7 Mar. 2014. Web. 12 May 2014. . ii. "Using sponsorship to increase brand awarenessAn Infiniti case study." Introduction. N.p., n.d. Web. 12 May 2014. . iii. "Operations theory." Customer satisfaction Customer service business studies and business English. N.p., n.d. Web. 12 May 2014. . iv. "Re-branding a Corporate ImageA Kelloggs case study." Kellogg´s Marketing Mix. N.p., n.d. Web. 12 May 2014. . v. Dietz, Graham, and Nicole Gillespie. Recovery of trust: case studies of organizational failures and trust repair. London: Institute of Business Ethics, 2012. Print. vi. "Famous Brand Ambassadors: Why They Succeeded - The Leader in Social Engagement Optimization - Insightpool." The Leader in Social Engagement Optimization Insightpool RSS. N.p., n.d. Web. 12 May 2014. . vii. "Creating a winning marketing mixA JD Sports case study." Promotion. N.p., n.d. Web. 12 May 2014. . Read More