The Problem with the Cow
Being a purple cow is difficult. There will always be criticism from many people when someone tries to be remarkably different and become a purple cow. There are two options: either be boring, indifferent and play it safe or try your luck at greatness, uniqueness and become the cow. There are always risks involved in being different and many fear failure, but the ones who try and succeed archive greatness.
From a business perspective remember if you have a distinctive proposition which others fear to adopt, that proposition might be your purple cow.
Remember “Safe is risky”
Many people try to avoid risk by following the leader. They let the leader lead and cut through the resistance and create an easy path for them …show more content…
Organizations should invest in their products and services rather than the marketing of the same. If your product or services are good they’ll create a name for themselves. Following the regular trend may prove to be risky while introducing a purple cow can be highly rewarding.
Mass marketing of products can lead to boring products catering to everyone’s need. Millions of budget is wasted on marketing of these mass products which fall on the deaf ears of innovative buyers, who are not excited by the products or the majority who might watch the promotion and still not buy it.
Can millions of dollars be spent on the product instead of the marketing, hire the best people from the industry and create the next purple cow?
The case of Lionel Poilane talks about how he refused the conventional French bakery products and did an extensive research and came up with sourdough bread. He hired young bakers and made his homemade sourdough bread a global product. Similarly companies need to take uncharted routes and explore roads less travelled to find out their purple …show more content…
Do not over promote the product in different ways. Instead re-launch the old one with few modifications and moderate advertisement.
Capitalize on innovation. Innovation can help create new purple cows. Otaku is a Japanese word for a little over hobby but less than obsession. Target such otakus in businesses raise a purple cow as the enthusiasts become your greatest promotors.
Customer is your king. Try to address customer’s issues and problems which even they don’t highlight. Be obsessed about your customers and know them in and out.
Find a market niche and develop a new product catering to the targeted customer segment. Creating a niche for yourself can bring in huge profits as the competitors will take to identify and enter into it.
There is no perfect plan to create a purple cow but there are processes to work on the edges and find the one that delivers the best marketing and finance mix. In fact your purple cow should be so good that it does not needs advertisement and promotion.
The slogan for your purple cow should be such that it stupendously boasts the product. Marketing should not be done for the product it should be the
Being a purple cow is difficult. There will always be criticism from many people when someone tries to be remarkably different and become a purple cow. There are two options: either be boring, indifferent and play it safe or try your luck at greatness, uniqueness and become the cow. There are always risks involved in being different and many fear failure, but the ones who try and succeed archive greatness.
From a business perspective remember if you have a distinctive proposition which others fear to adopt, that proposition might be your purple cow.
Remember “Safe is risky”
Many people try to avoid risk by following the leader. They let the leader lead and cut through the resistance and create an easy path for them …show more content…
Organizations should invest in their products and services rather than the marketing of the same. If your product or services are good they’ll create a name for themselves. Following the regular trend may prove to be risky while introducing a purple cow can be highly rewarding.
Mass marketing of products can lead to boring products catering to everyone’s need. Millions of budget is wasted on marketing of these mass products which fall on the deaf ears of innovative buyers, who are not excited by the products or the majority who might watch the promotion and still not buy it.
Can millions of dollars be spent on the product instead of the marketing, hire the best people from the industry and create the next purple cow?
The case of Lionel Poilane talks about how he refused the conventional French bakery products and did an extensive research and came up with sourdough bread. He hired young bakers and made his homemade sourdough bread a global product. Similarly companies need to take uncharted routes and explore roads less travelled to find out their purple …show more content…
Do not over promote the product in different ways. Instead re-launch the old one with few modifications and moderate advertisement.
Capitalize on innovation. Innovation can help create new purple cows. Otaku is a Japanese word for a little over hobby but less than obsession. Target such otakus in businesses raise a purple cow as the enthusiasts become your greatest promotors.
Customer is your king. Try to address customer’s issues and problems which even they don’t highlight. Be obsessed about your customers and know them in and out.
Find a market niche and develop a new product catering to the targeted customer segment. Creating a niche for yourself can bring in huge profits as the competitors will take to identify and enter into it.
There is no perfect plan to create a purple cow but there are processes to work on the edges and find the one that delivers the best marketing and finance mix. In fact your purple cow should be so good that it does not needs advertisement and promotion.
The slogan for your purple cow should be such that it stupendously boasts the product. Marketing should not be done for the product it should be the