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Direct Mail Marketing Now As Easy As Email
Is the United States Postal Service (USPS) a marketing innovator? As it turns out, the kind folks in the blue shorts are in fact making it easy for even the smallest business to duke it out with their biggest competitors by using the USPS new...
How to get an Internet Marketing Education Without Spending a Nickel
Do you want to create a passive income? Are you bewildered by all the educational Marketing products out there? Are you on a low budget or trying to escape from a huge debt load? Well, I answered a big "Yes!" to all the above, especially, the...
Implementing and Opt-in List to Optimuise Your Internet Marketing Success
In order to make a success of your website or online
business, it is obvious that you will need customers.
Although everyone who visits your page will not become
a customer, they must have some interest in your
product or service that brought...
Marketing-Minded Financial Planners, the Media Wants to Give You Free Publicity
In this great country of ours, there are basically three ways to get yourself tons of media coverage. You can be a celebrity. Try becoming a TV, movie or sports star. That’s a good start. You can become notorious. Getting arrested, or enmeshed in...
Niche Marketing - Assessing The Potential Of A Niche
Potential niche products exist all around us, but how do you decide which ones are likely to be worth pursuing? Here's a quick method that will give you a pretty good indication without having to spend large amounts of time and money on the task. ...
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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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