{"id":892,"date":"2023-08-12T10:10:10","date_gmt":"2023-08-12T06:10:10","guid":{"rendered":"https:\/\/www.sureshdinakaran.com\/blog\/?p=892"},"modified":"2023-08-12T16:35:18","modified_gmt":"2023-08-12T12:35:18","slug":"how-is-your-brand-performing-in-the-economy-of-feelings","status":"publish","type":"post","link":"https:\/\/www.sureshdinakaran.com\/blog\/2023\/08\/12\/how-is-your-brand-performing-in-the-economy-of-feelings\/","title":{"rendered":"How is your brand performing in the economy of feelings?"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>Ever since I can remember,\u00a0<strong>marketing<\/strong>\u00a0has focused on\u00a0the\u00a0<strong><em>USP, the unique selling proposition<\/em><\/strong>, and the product\u2019s\/service\u2019s features and benefits. This is a traditional theory and applies to a rational, analytical view of value. In an oversupplied market with more, and often conflicting information,\u00a0<span style=\"color: #ff0000;\"><em>rational decision making becomes a myth.<\/em><\/span><\/p>\n<p>&nbsp;<\/p>\n<p>Instead,\u00a0<span style=\"color: #ff0000;\"><em>start paying attention to what people do<\/em><\/span>\u00a0(which is the best indication of\u00a0<span style=\"color: #ff0000;\"><em>how they feel<\/em><\/span>), not so much to what they say.<\/p>\n<p>&nbsp;<\/p>\n<p class=\"reader-text-block__paragraph\">The more choices there are and the more complex life becomes, the more people make decisions that \u201c<strong><em>feel<\/em><\/strong>\u201d right to them, and\u00a0<span style=\"color: #ff0000;\"><em>NOT on an objective truth<\/em>.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"reader-text-block__paragraph\">So, how is your brand performing in the\u00a0<span style=\"color: #ff0000;\"><em><span class=\"tvm__text--legacy-publishing-emphasis\">economy of feelings<\/span><\/em><\/span>?<\/p>\n<p>&nbsp;<\/p>\n<p class=\"reader-text-block__paragraph\">Changing behavior is a herculean task- ask any newspaper brand or cigarette brand or an Operating System brand..<\/p>\n<p>&nbsp;<\/p>\n<p>You would have heard of this brand called\u00a0<span style=\"color: #ff0000;\">Betty Crocker<\/span>\u00a0fabled for their\u00a0<span style=\"color: #ff0000;\"><em>Cake Mixes<\/em><\/span>&#8211; when they launched, it was launched as a plug &amp; play product, get the mix into the oven and voila, the cake is ready! Guess what? The brand bombed in the market.<\/p>\n<p>&nbsp;<\/p>\n<p>They went back into the market wherein they gave only a 70% ready product and got the customer to participate and work on the remaining 30%- now guess what??\u00a0<span style=\"color: #ff0000;\">Betty Crocker<\/span>\u00a0was a roaring success.<\/p>\n<p>&nbsp;<\/p>\n<p>Same thing applied to\u00a0<span style=\"color: #ff0000;\">Ben &amp; Jerry<\/span>\u00a0when they launched their\u00a0<span style=\"color: #ff0000;\"><em>Lavender<\/em><\/span>\u00a0flavor- it bombed..comeback kid was twinned with a more familiar to the audience\u00a0<span style=\"color: #ff0000;\"><em>Vanilla<\/em><\/span>\u00a0flavour and presto..<\/p>\n<p>&nbsp;<\/p>\n<p class=\"reader-text-block__paragraph\"><span style=\"color: #ff0000;\"><em>Creative pursuits that aim at changing consumer behavior should be hinged on layering the novel on the already familiar.<\/em><\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-893\" src=\"https:\/\/www.sureshdinakaran.com\/blog\/wp-content\/uploads\/2023\/08\/Creative-Process.jpg\" alt=\"\" width=\"725\" height=\"948\" \/><\/p>\n<p>&nbsp;<\/p>\n<p class=\"reader-text-block__paragraph\"><strong><em>Caution: The value of marketing is not where you have been told it is.<\/em><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p class=\"reader-text-block__paragraph\"><span style=\"color: #ff0000;\"><strong><span class=\"tvm__text--legacy-publishing-emphasis\">Analytics inform , emotions compel.<\/span><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n<p class=\"reader-text-block__paragraph\">In an era of quantum marketing with\u00a0<span style=\"color: #ff0000;\"><em>5G, IOT, AI, VR, AR, MR, Meta<\/em><\/span>\u00a0etc, connecting hearts and minds is a great opportunity.<\/p>\n<p>&nbsp;<\/p>\n<p class=\"reader-text-block__paragraph\">So,\u00a0<span style=\"color: #ff0000;\">Marketing 101\u00a0<\/span>would somewhat go like this:<\/p>\n<p>-Identify which audience you want to be serving<\/p>\n<p>-Examine what they need or want but don&#8217;t have<\/p>\n<p><em>-If you can help people get to where they seek to go, when they\u2019re ready to get there, the stuff called marketing gets significantly easier<\/em><\/p>\n<p>-Be happy with serving a <strong>MVA(Minimum Viable Audience)\u00a0<\/strong>rather than try to be all things to all people. Delight the daylights of your\u00a0<strong>MVA<\/strong><\/p>\n<p><strong><em>-Instead of finding customers for your product or service, find a product or service for your audience<\/em><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p class=\"reader-text-block__paragraph\">As I conclude, may I direct you to this article from\u00a0<a href=\"https:\/\/www.brandknewmag.com\/\"><strong>BrandKnew<\/strong><\/a>\u00a0on\u00a0<a href=\"https:\/\/www.brandknewmag.com\/how-has-marketing-changed-over-the-past-half-century-2\/\"><strong>how marketing has changed over the last half a century<\/strong><\/a><\/p>\n<p>&nbsp;<\/p>\n<p class=\"reader-text-block__paragraph\"><strong>ENDS<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &nbsp; Ever since I can remember,\u00a0marketing\u00a0has focused on\u00a0the\u00a0USP, the unique selling proposition, and the product\u2019s\/service\u2019s features and benefits. This is a traditional theory and applies to a rational, analytical view of value. In an oversupplied market with more, and often conflicting information,\u00a0rational decision making becomes a myth. &nbsp; Instead,\u00a0start paying attention to what people &hellip; <a href=\"https:\/\/www.sureshdinakaran.com\/blog\/2023\/08\/12\/how-is-your-brand-performing-in-the-economy-of-feelings\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;How is your brand performing in the economy of feelings?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[202,1838,1837,49,14,1839,189,380,3,1841,1131,130,63,1083,1322,1044,1840,1183,1842,256,187,1836],"class_list":["post-892","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-analytics","tag-ben-jerrys","tag-betty-crocker","tag-brandknew","tag-brands","tag-consumer-behaviour","tag-creativity","tag-customers","tag-emotions","tag-familiar","tag-feelings","tag-isd-global","tag-marketing","tag-minimum-viable-audience","tag-mva","tag-need","tag-novel","tag-product","tag-rational-decision-making","tag-service","tag-usp","tag-want"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/posts\/892","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/comments?post=892"}],"version-history":[{"count":2,"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/posts\/892\/revisions"}],"predecessor-version":[{"id":895,"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/posts\/892\/revisions\/895"}],"wp:attachment":[{"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/media?parent=892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/categories?post=892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sureshdinakaran.com\/blog\/wp-json\/wp\/v2\/tags?post=892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}