||Like it? PLEASE +1 it! Thanks!|
What brand is your mattress?
That's how they built a built a billion dollar company. By getting 2% of a market that doesn't care about brands to care about them. A typical marketer looks at this and says, "great marketing! You branded a product in an unbranded marketplace."
I actually don't think that's what really happened. I think what happened is that every single product in the mattress market was perceived as the same, so there was no reason to care about which brand, because, frankly, it didn't seem to matter. Like brands of gasoline or milk.
Many marketers are excited about a brand-free market. They walk in wads of cash and try to buy share. They believe that the brand can build the product. That's backwards.
When you change the product enough, branding happens.
There are two traps here:
first, entering a brand-free market where people have been trained to ignore the various competitors is really expensive, because people aren't listening, no matter how great your offer is. I think Tempurpedic got a little lucky.
second, believing that you can have the brand before you have the product. You almost certainly don't have the money to pull that off.
He also said that 95% of his customers have recommended his product to others. Not the brand, not the experience, but the product. I have, it's true. I've recommended a thousand dollar mattress to someone. Go figure.
Related ArticlesBusiness Incentives for Increased Profits
Seize the Opportunity!
For Larger Profits - Sell Solutions or Prevention?
The Power of a Brand Name and how to make your own brand powerful
Do you need a 99¢ Chicken Sandwich?
Let Me Tell You About A Truly Great Brand
Strategic Branding Questions
Do Bean Counters Understand Brand Value?
How Branding Can Lead to a Business's Success...or Failure
How to use brand bidding
Everything You Do
Are You Hiding In A Schlumpy Brand?
Brand Creation-How Do You Create a Compelling Brand?
Building Your Brand
Think of Your Brand as an Orange
Your Brand is More than a Logo or a Tagline
Build Your Reputation
How to Brand Your Business
Concierge Marketing How to turn information into a marketing tool
Free PDF Download
By Seth Godin
About the Author: Seth Godin
RSS for Seth's articles - Visit Seth's website
Seth Godin is a bestselling author, entrepreneur and agent of change. Godin is author of six books that have been bestsellers around the world and changed the way people think about marketing, change and work. Permission Marketing was an Amazon.com Top 100 bestseller for a year, a Fortune Best Business Book and it spent four months on the Business Week bestseller list. It also appeared on the New York Times business book bestseller list.
Click here to visit Seth's website.
JAM Just another meeting
Reorganizing for profit
Making your customers uncomfortable
The forces of mediocrity
Related Forum PostsWarrenties
Re: Business attire
Re: Canadian Licensing Info
Re: The Best Method for Online Marketing
Re: Promotion Pack / Prize Pack
Share this article. Fund someone's dream.
Share this post and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
By: Evan Carmichael
By: Evan Carmichael
||Like this page? PLEASE +1 it!|