Key Principles
- The old marketing formula of “increase advertising to increase distribution to increase sales to increase profits” no longer works automatically.
- Turn your back on old, tired products and invest in products that are new and exciting.
- Your product development and advertising should target your ideal customer rather than the masses.
- Good is the opposite of remarkable. “Good” products are not enough in today’s innovative environment. Playing it safe is risky these days.
- Know that you cannot make everyone happy, so find that special niche and cater to their needs.
- Don’t let your company get lost in a flock of sheep—Get out there and produce something new that’s buzzworthy. Be the purple cow!
- Advertising needs to be true and clever; without being true, it’s not clever.
- Focus groups no longer work. Focus on getting in front of the influencers.
- Trying to avoid criticism only guarantees failure.
- Learn about successful product development by studying the most remarkable products to come out of the U.S. who made them, how, and why?
- Test the limits to see how your product can be the best, newest, and/or easiest to use product that the world has seen.
- Once your purple cow is established, milk it. Recognize that the cow won’t last forever and work on creating a new cow.
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The above is inspired from the bestselling book "Purple Cow" by Seth Godin.
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