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The Purple Cow Notes

The Purple Cow Notes. p. 1-26. Additional P’s. Positioning Identifying a market niche for a brand, product or service utilizing placement strategies Price, promotion, distribution, competition Publicity Managing the public’s perception of a subject A component of promotion

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The Purple Cow Notes

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  1. The Purple Cow Notes p. 1-26

  2. Additional P’s • Positioning • Identifying a market niche for a brand, product or service utilizing placement strategies • Price, promotion, distribution, competition • Publicity • Managing the public’s perception of a subject • A component of promotion • Finding ways to attract public interest

  3. Additional P’s • Pass Along • WOM Marketing (word of mouth) • Referral Marketing • Email Marketing • Social Media sites (Facebook, Twitter, etc.) • Permission • Asking permission to send information to prospective customers • Mostly used by online marketers • Marketing centered around obtaining customer consent to receive information from a company

  4. The New P - Purple • Idea behind the Purple Cow • The book is about the why, the what and the how of remarkable • Remarkable Marketing is the art of building things worth noticing right into your product or service

  5. The New P - Purple • The postconsumption consumer is out of things to buy • We have what we need, we want very little, and we’re too busy to spend a lot of time researching something • Why you need your product to be a purple cow

  6. Before, During and After • Before advertising, there was word of mouth • During advertising, the magic formula is if you advertised directly to the consumer, sales would go up

  7. The Greatest Thing Since Sliced Bread • Wonder bread was more of a success than Frederick Rohwedder due to marketing • A good product with lousy marketing had very little chance of success • The packaging & advertising helped this new invention succeed

  8. Why You Need a Purple Cow • Tombstone pizza example • Invent a product everyone wants, advertise it to the masses and make a lot of money • Aspirin example • Initially very easy to market – everyone would want pain relief • Hard to market a product in a saturated market where there are hundreds to choose from

  9. Why You Need a Purple Cow • If an audience doesn’t have the money to buy what you’re selling, you don’t have a market • If an audience doesn’t have the time to listen to understand your pitch, you’re invisible • The world has changed. There are far more choices, but there is less and less time to sort them out

  10. TV-Industrial Complex • Concept: • Find a large market niche that’s growing and not yet dominated • Build a factory • Buy a lot of TV ads • The ads will lead to retail distribution and sales • Sales will keep the factory busy and create profits

  11. TV-Industrial Complex • Revlon & Cap’n Crunch examples • TV commercials are the most effective selling medium ever devised

  12. TV-Industrial Complex • The original beetle • Sales languished until the use of brilliant advertising • On the basis of great TV advertising, the original beetle was profitable in the US for more than 15 years • Original beetle TV industrial vs. new beetle Purple Cow

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