Marketing Genius from Maple Creative


Marketing tips, observations & philosophy, plus a few rants and random musings - from those who practice, preach and teach marketing, research, advertising, public relations and business strategy.

Tuesday, April 10, 2007

Mistake Avoided

In marketing, it is very gratifying to help clients grow their businesses ... to increase revenues. Marketing usually operates a the top line of the business, i.e., the revenue. What's even more gratifying is to work at a strategic marketing level and help a client avoid a mistake. Marketing can also have a huge impact on a business' bottom line costs, as illustrated by the following examples from our work at Maple Creative.

Case #1- Mental Health Professional - We helped the Managing Partner to develop a premium pricing strategy for a new service offering. He had envisioned a competitive market pricing strategy with volume discounts. Instead, we proved that clients viewed his services as highest value and that price was not a determining issue. Saved this client $150,000 per year by avoiding unnecessary price reductions.

Case #2- Petroleum Retailer - We helped the CEO explore a potential change in gasoline brands. Discovered that changing from Brand X to Brand Y would have caused at least 32% of customers to leave. Saved this client $3 million a year in lost revenues.

Case #3- Financial Services Firm - helped the management team explore a possible name change and re-branding. Learned that it was unnecessary, enable this client to refrain from wasting $250,000 (avoided cost of change out for signage, collateral, etc.)

Looking for the commonality among these three, great success stories? It's simple: research.

The marketing genius understands how powerful it is to isolate that which we do not know and to get answers via research.

Case 1 - Focus group
Case 2 - Survey - clipboard exit interviews at the store
Case 3 - Survey - telephone interviews

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