The Hindu Business Line : Don’t run after customers bookmark

Shops for teenagers in Tokyo’s chic Harajuku district go without signs, because the idea is, “if you do not know it is a shop, you have no business being there.” An online audience in Russia recently chose a “plain and natural -looking” schoolgirl in a beauty contest over more conventional beauties.

These are just a few signs that traditional marketing is now being turned on its head, write Indrajit Sinha and Thomas Foscht in Reverse Psychology Marketing ( www.landmarkonthenet.com). “Firms that are wedded to playing the old game are now being handily outfoxed by their more nimble rivals, who have their ears close to the ground.”

The authors find that after two decades of heavy spending on advertising, branding, product launches, and promotions, many multinational companies seem weary and uncertain about marketing, its role and effect today. “Some firms, particularly those whose market shares have been slipping or which are facing painful cost pressure from Asian-based competitors, have drastically scaled back their marketing budgets altogether.” The new mantra is reverse psychology marketing, say Sinha and Foscht. “Don’t run after customers. Let them come to you instead.” The ‘pulled’ customer is a better customer, they argue. “He may have done the prior research on the Internet, so he needs less persuasion in the store or showroom. Such a customer costs less to sell and service, can attract others without much influence, and can stay with the firm for a very long time.” A book with magnetic enough insights to dispel many marketing myths.

D. Murali

http://BookPeek.blogspot.com

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