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CRYSTAL BALL GAZING : Ezine Publishing Predictions You Can Profit From In 2002
It's the time of the year when I take a break to reflect upon the year that's been - and wonder about the year ahead. In 2001, ezine publishing took a quantum leap, evolving from being predominantly an amateur's hobby into the most powerful...
I'm Sick and Tired of It!
Ok, this is basically just a ranting gripe session, so if you don't want to hear it please run and hide. Now that you've been warned, however, I am absolutely sick and tired of people thinking I'm lazy and worthless just because I don't get up at...
Interviews With Successful Ezine Publishers - Thomas Olin
Thomas Olin is publisher of Higher Ground Marketing, a weekly publication sent out to 20,848 opt-in subscribers on Fridays. Higher Ground Marketing's mission is to help people make more money on the Internet from home, by using cost effective...
Make Your Customer Your Friend
The simplest way to describe a ‘durian’ (pronounced doo-ree-ann) is to say it’s a yellowish-green fruit about the size of an mid-sized watermelon. It has a thick skin of spikes, and a rich bitterish-sweet fruit.
Known as the King of Fruits,...
The Power of Endorsements
Endorsements are one of the most powerful marketing tools that you can use to promote a product or service. An endorsement simply is when a person talks or writes about a particular product or service in a favorable manner and recommends that you...
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Demand and Supply and Marketing
Supply and Demand and Marketing
Darrin F. Coe, MA
11/30/04
According to Dough McCormick, Chariman and CEO of iVillage, Inc, “Technologists focus on supply but they don’t understand advertising is focused on demand. Just because we have an available ad doesn’t mean we have to sell it.”
What in the world does that mean? It means not every product online is going to sell. Online retailers and marketers are not going to succeed just because they are online. Marketing is about understanding the demand of the consumer and meeting it or creating demand for a product.
This means online business people must take the time to understand the consumer. They need to develop an understanding of the consumer’s thinking, motivation, and needs. Just because you develop a website and slap up some product graphics and have a checkout process using paypal does not mean you’ll be selling and rolling in money.
Is there a demand for your product or service? If there is how does your product or service fulfill that demand? If there is not a demand can one be created through advertising and marketing? For some products or services you’ll not be able to create demand and people won’t buy simply because you provide a supply.
So what’s the practical application of focusing on demand instead of supply?
1. Take the
time to research your demographics
2. Consider streamlining your websites to include interactive elements that help develop
an understanding of what your visitor desires.
3. You may need to develop a different marketing campaign based on whether there is
a strong demand or weak demand for what you are offering.
4. Demand can be created via a long term process of education/awareness, then branding,
then interest, then trial, then demand.
5. In a demand mindset you’ll need to be more strategic, combining a campaign of both
rational information with desire oriented emotionalness
Remember, just because you supply it does not mean there is a demand for it. Take the time to study your idealized market and idealized customer profile then search them out to ascertain what their demand level is for your product or service. This will help you develop your marketing strategy. Be prepared for a long-term commitment.
About the Author
Darrin F. Coe, MA holds a master’s degree in psychology and operates “The Center For Understanding Consumer Thinking”. He is the author of the special report, “The Internet Consumer Exposed” available at http://dcoe1.tripod.com/exposed1 visit The Center at http://dcoe1.tripod.com and subscribe to the Darrin Coe Ezine for more marketing and consumer information.
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