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Advice You - Why Would You Stand In Line 48 Hours To Get A Playstation 3 - The Marketing Psychology Is Working
You know it's Christmas time when two things happen...
1) People stand in line for 48 hours camped outside Best Buy for 48 hours waiting for the latest PlayStation release, or...
2) The Internet giveaway fever really heats up - More about this later.
The current Playstation mani
1) People stand in line for 48 hours camped outside Best Buy for 48 hours waiting for the latest PlayStation release, or...
2) The Internet giveaway fever really heats up - More about this later.
The current Playstation mani
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
a is an incredible lesson in marketing. But I missed the importance of what was going on until a friend smacked me in the face with it this morning...
DUMB LIKE A FOX...
Our friend -- I'll call him AJ -- reported this morning that he and his wife had just come back from Wa
DUMB LIKE A FOX...
Our friend -- I'll call him AJ -- reported this morning that he and his wife had just come back from Wa
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
l-Mart where they'd been camping for 48 hours to get one of 4 available PlayStations 3 when they went on sale...
Unbelievable! I thought he was insane when he told us this. Who wants a PlayStation bad enough to stand in line 48 hours?
Well...
He said with a smile, "We got two!"
Unbelievable! I thought he was insane when he told us this. Who wants a PlayStation bad enough to stand in line 48 hours?
Well...
He said with a smile, "We got two!"
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
So! It was still 48 hours in front of a store, right? Do your kids really need PlayStations THAT badly?
"Oh, they're not for the kids! We listed them on eBay within an hour," he said, still smiling. "And they're averaging 5 to 7 thousand dollars. Some have sold for more than $14,0
"Oh, they're not for the kids! We listed them on eBay within an hour," he said, still smiling. "And they're averaging 5 to 7 thousand dollars. Some have sold for more than $14,0
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
00." Search for "PlayStation 3" on eBay. I was blown away at the prices.
I was stunned. Not because of the price (people pay extravagant prices for just about anything), nor because my "insane" friend actually made about $390 per hour if he sells them both for $7000, but because I
I was stunned. Not because of the price (people pay extravagant prices for just about anything), nor because my "insane" friend actually made about $390 per hour if he sells them both for $7000, but because I
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
had totally missed the entire marketing lesson expertly laid out by Sony and Wal-Mart.
The six basic marketing persuaders from Robert Cialdini's classic book, "Influence: The Psychology of Persuasion", are in full view!
** Authority -- Wal-Mart. Love 'em or hate 'em, they are th
The six basic marketing persuaders from Robert Cialdini's classic book, "Influence: The Psychology of Persuasion", are in full view!
** Authority -- Wal-Mart. Love 'em or hate 'em, they are th
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
big kahuna in mega store retailing. If they advertise that they have 4 PlayStations in stock...they've got 4 and only 4 in stock. But they promise they can get more because...well, they can.
** Liking -- People practically live at Wal-Mart. Convenience and service translate into
** Liking -- People practically live at Wal-Mart. Convenience and service translate into
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
customers with an undying loyalty to them, often because they've become the only game in town.
** Commitment with Consistency -- Let's see. Stand outside in November in the rain for 48 hours to be the first in line for the release of a new product. That's serious commitment!
** R
** Commitment with Consistency -- Let's see. Stand outside in November in the rain for 48 hours to be the first in line for the release of a new product. That's serious commitment!
** R
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
eciprocation -- Wal-Mart provides a free (and massive) PS3 buyer's guide on their site that provides all the information you need to make a decision between the $500 and $600 basic units, and all the accessories required. Giving such complete information not only sets up the author
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
ty persuader but also makes you value the content and feel indebted to the retailer. That's called reciprocity.
** Social Proof -- The press has been lapping up Sony's press releases about the PlayStation launch date and the lack of product. And the gaming blogs can talk of nothin
** Social Proof -- The press has been lapping up Sony's press releases about the PlayStation launch date and the lack of product. And the gaming blogs can talk of nothin
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
g else.
** Scarcity -- Sony is really smart! They do this every year. Release only enough of the hot product to create an insatiable appetite for it. They may have warehouses full of PlayStations, but they won't release them until the market begs for more.
HOW DID I MISS THIS!
** Scarcity -- Sony is really smart! They do this every year. Release only enough of the hot product to create an insatiable appetite for it. They may have warehouses full of PlayStations, but they won't release them until the market begs for more.
HOW DID I MISS THIS!
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
AJ knew -- before he invested the time to stand in line --that the market was clamoring for the product. And he saw an opportunity.
He had no intention of keeping the PlayStations himself. His research on eBay confirmed that PS3 fans were rabid and would pay any price!
Like
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
any good marketer, he remembered the first rule: Determine what the market wants and sell it to them. As Mark Hendricks, a master marketer, and creator of the Christmas season giveaways, likes to say, that's the difference between "marketing" and "selling" -- it's much easier to ma
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
ke money when you're providing a much-wanted service.
Selling something no one wants is hard work, indeed. Marketing is easy.
I should have seen it too. I've studied with some great internet marketers. Most teach the basic principles of Robert Cialdini's book.
CHRISTMAS MADNE
Selling something no one wants is hard work, indeed. Marketing is easy.
I should have seen it too. I've studied with some great internet marketers. Most teach the basic principles of Robert Cialdini's book.
CHRISTMAS MADNE
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
SS...
During the Christmas season, online marketers flock to the Internet to collect gifts -- usually informational products and software tools. Always free, hence the name giveaway, the purpose is to drive traffic. All of Cialdini's six persuaders are used to create the buzz,
During the Christmas season, online marketers flock to the Internet to collect gifts -- usually informational products and software tools. Always free, hence the name giveaway, the purpose is to drive traffic. All of Cialdini's six persuaders are used to create the buzz,
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
exchange the gifts for e-mail addresses and names.
The 12 Days of Christmas is the granddaddy of the online giveaway extravaganza and Mark Hendricks is the father of the concept. For several years now, Mark has brought together more than 75 top marketers to giveaway hundreds of pr
The 12 Days of Christmas is the granddaddy of the online giveaway extravaganza and Mark Hendricks is the father of the concept. For several years now, Mark has brought together more than 75 top marketers to giveaway hundreds of pr
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
oducts during the month of December.
Because the concept worked so well and has become an Internet marketing staple, a gazillion giveaways pop up. It's now a standard tool in every marketer's toolkit. Why does it work so well. It's based on one of Cialdini's persuaders -- reciproc
Because the concept worked so well and has become an Internet marketing staple, a gazillion giveaways pop up. It's now a standard tool in every marketer's toolkit. Why does it work so well. It's based on one of Cialdini's persuaders -- reciproc
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
ity.
I give you something and you'll feel obligated to give me something back. It's a technique used everywhere. When you go to the grocery, clerks stand at sample stations offering everything from cubes of cheese to portions of spaghetti and meatballs. Why? If you take a sample,
I give you something and you'll feel obligated to give me something back. It's a technique used everywhere. When you go to the grocery, clerks stand at sample stations offering everything from cubes of cheese to portions of spaghetti and meatballs. Why? If you take a sample,
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
hances are really good that you'll buy the product.
But at Christmas...Whew! It's tough to keep up and maintain enough free disk space on your computer for all the online giveaway opportunities.
The six persuaders (all included above) are real. Until I got involved in the Interne
But at Christmas...Whew! It's tough to keep up and maintain enough free disk space on your computer for all the online giveaway opportunities.
The six persuaders (all included above) are real. Until I got involved in the Interne
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
t, I had no idea I was being "persuaded" at every turn. We all react to them, will forever, and have ever since the first caveman tried to sell the first hunk of meat to his neighbor.
It took a PlayStation 3 and AJ to point me back to the "real" world to see it in action there too
It took a PlayStation 3 and AJ to point me back to the "real" world to see it in action there too
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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