I have been wondering if a marketing firm could design a table for every product or services and classify it in two broad categories – Mainly a push based product or predominantly a pull based one and drill it to show the extent of pull or push in each category. .
The words “mainly” and “ predominantly” being prefixed because all Pull based products would have some element of push and vice versa. Say in FMCG branding is extremely important (pull based) but also a recommendation from grocery shop owner or salesman would add the push element.
What the marketing firm could do is to show the relative extent of PULL or PUSH based products in every category. Not denying that the relative extent of Pull or Push would vary from firm to firm based on various factors.
To take an example, say in Push Based product in financial category – Insurance would have the maximum push, followed by MF, then bonds, etc. As the list would move from left to right, the push element would decrease and pull element would increase. Similarly a pull based product for financial category would have say Home Loans, Vehicle loans, personal loans, gold etc indicating the degree of pull element required.
Alternatively a number line merging the two above categories could show the proportion of Pull and push for each product.
Well you must be wondering how this classification would help. It could help the marketing and sales team to tweak its approach based on these findings and incorporate elements that suit the needs of the category the product belongs to. No use expecting tangential shift in numbers from sales team if the product is inherently pull based, similarly no use spending vast sums on marketing if the product is Push based.
Monday, August 11, 2008
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