I've read about Lean Startup Marketing, so when the local entrepreneurs Meetup group offered a chance to learn from those who had undergone the three day process, I took it.
The intent is laudible. Preparing to launch updated versions of most of its products, "we felt it was a good time to express the newness in the Microsoft logo (see below) as well," said Jeff Hansen, Microsoft's general manager of brand strategy.
Microsoft certainly needs to do something. With the exception of late a spike in 2007 and a dip in 2009, the stock price has hovered between $25 to $30 for a decade.
Increasingly, I get eblasts that start "Picked especially for you..."
Amazon made this popular, and I still enjoy its missives, because it actually has made picks for me, based on sophisticated algorithms. I don't always buy, but I am always interested in learning about new books that may be an enjoyable read.
I love great sales personnel. As much as I loathe lousy ones.
We were looking for track lighting at the local lighting store, from whom we had bought in the past. Those who've shopped for lighting know this takes some time and, often, in home consultations. After all, it is neither a small purchase, nor one you can easily replace.
We'd heard about a nice local deli, and stopped in to see the offerings.
Greeted with a smile, we asked about their prepared dishes, particularly vegetarian ones which, unfortunately, were on the sparse side. Because the store came with high recommendations, we persisted in our questioning.
Until the clerk offered us a sampling of the store's meatballs, something they were well known for.
So I've watched closely the relative success of the two gelato stores within walking distance. One is living on borrowed time, despite similar, if not higher, quality, selection and service, and competitive prices.
Despite arriving on time for our reservation, we were told we had to wait. A bit annoying, since we could see a couple of open tables. The host then directed us to the bar, where the bartender, of course, asked if we wanted a cocktail, which we declined. Within the space of a minute, our anticipated pleasant evening was going downhill - I'm thinking typical restaurant trick, trying to eke out an extra couple of dollars from a patron. But then my attitude changed.
How many times have you seen quality research shot down because a decision-maker said it didn't match what they knew? And despite the reams of data and the quality of the analysis, the nay-sayer simply wouldn't budge.
Marketing and strategy professionals do their best to gather data through a variety of quantitative and qualitative techniques. Despite these efforts, many are frustrated when decisions are made seemingly in spite of the data. And then they double down and do more research, or try a new technique, with the same result.
The mattress business is clearly not very restful: Tempur-Pedic's share price has dropped from $87 in April to $22 on Friday, a 66% decline. A colleague suggested I take a look at buying the stock. So I did a bit of research:
Back in the Madison Avenue glory days, all you had seemingly had to do was create a catchy message, pick the right media, pump up your advertising investment and, presto, your sales increased, reaping profits far in excess of the cost. In extreme cases, the actual physical product was irrelevant (remember Pet Rocks?).
'Companies throw the term "innovation" around but that doesn't mean they are actually changing anything monumental,' writes Leslie Kwoh in "You Call that Innovation?" Now that this has made the Wall Street Journal, "innovation" has probably reached peak of what the Gartner group calls the "hype cycle," and is likely headed for the "trough of disillusionment." But for those who follow trends, this should be no surprise.