Some 30 years back, K.E. manufactured sunglasses. His sunglasses were of good quality. And they were cool looking too. But the other big branded companies always sold more units than him. K.E. didn’t have much money to advertise his top quality sunglasses and thus he could never successfully create awareness about his cool looking and longer lasting sunglasses.
So he targeted a smaller market. He went after athletes. He saw an instant rise in sales as his marketing effort became more focused and word of his sunglasses started spreading amongst the athletes. Then K.E. did one more thing that made the sales jump an awesome 34% in one single year!
He started packaging the sunglasses in tennis ball cans! The unique packaging spread the word about his sunglasses like wild fire. And he could now charge more as he positioned his sunglasses as cool. His profits exploded.
Action summary:
° Targeting a smaller market often leads to more profits as now your marketing material is focused on one audience and pulls in a better response.
° Unique packaging alone has the potential to jump-start your sales. Unique packaging will make people talk about your product. It will make them remember your product.
° With the combined power of packaging and smart targeting, you can easily increase your prices without seeing any decline in sales.
Comments are closed.