3rd weekend of July'2011

We have all been talking of "marketing" in our day-to-day business. There
are many myths attached with the thought(s) on the said subject. Though we
do find very less time to pursuit academics, but nevertheless the subject
is an important one. A small set of myths is attached for your perusal.
Hope you like it.


Marketing is not mathematics. It is not exact or definite, because it deals
with the human psyche and our consumption and buying patterns, which are
very unpredictable. When marketers fail to realize this fundamental
reality, they fall prey to marketing "rules" which don't exactly turn out
to be rules. Here is a list of seven of such "pseudo rules" or myths. While
a couple of them may be more prominent in the Indian market, none of them
are exclusive to just India. Interestingly enough, the human mind seems to
work more or less the same everywhere.


Myth # 1: Marketing is all about selling the products that have been made.
Reality: Marketing is primarily about understanding correctly what people
want. And when you have understood that (which is extremely difficult, by
the way), it is about creating good products that satisfy those wants and
finally making them available to the customer (not the consumer, refer myth
# 7). Indian marketers are still behind their western counterparts in
understanding this. Confusing marketing with sales or advertising is
rampant in India.


Myth # 2: Advertising is marketing.
Reality: Advertising is a form of promotion and promotion is just a small
part of the overall marketing function. Advertising is not marketing. Also
more advertising doesn't mean more sales. Advertising makes people aware of
the brand. Now whether they trust the advertising (which they don't, most
of the times, and that’s why PR works better) and go ahead and buy the
product, is an entirely different issue.


Myth # 3: Branding is marketing
Reality: The scope of branding goes beyond marketing; rather it is the
result of marketing. Apart from marketing, branding is also about the work
culture, the employees, the leadership, the core values, the performance of
the products, etc. The company makes a promise through advertisements and
then fulfills it with the help of all its resources. Only when both promise
and fulfillment happen the way they should is a brand built. Think of Tata
or Infosys (or Satyam for that matter). And by the way, Amitabh Bachchan
doesn't do marketing for himself.


Myth # 4: Only big companies need to invest in branding.
Reality: Another myth more prominent in the Indian market. Branding is not
one of the many activities of a company, it is the activity. Everything
that a business entity does contributes or takes away from its brand
identity. Even if the company is small and has limited customers, it will
be perceived in some way by those limited number of customers. Then why
neglect brand building and lose even them?


Myth # 5: The best product or service will win.
Reality: Apple's iPod still wins not because it is the best, but because it
is perceived to be the best. You don't go into a TV store and buy a
Panasonic instead of a Videocon because you know for a fact that Panasonic
is better, but because you perceive it to be better. Remember, marketing or
branding or advertising is all about perception, human perception.


Myth # 6: Competitors are bad.
Reality: Competitors are good. Pepsi would not have been Pepsi without a
Coke. Hutch would not have been Hutch without an Airtel. Times of India
would not have been Times of India without a Hindustan Times. A competitor
refines your own positioning. It tells the consumer, what you are not. By
the way, do you know that TOI Mumbai and HT Mumbai use each other's
production capacities to meet their sales? Competitors are good.


Myth # 6: Customer is always right.
Reality: Customer is sometimes wrong, horribly wrong. Considering the
customer to be always right may sometimes harm the morale of the loyal and
efficient employee. The Indian principle of Atithi Devo Bhavah (the Guest
is God) doesn't apply to customers. And there are both good and bad
customers. Seth Godin, the marketing Guru says that the customer is indeed
always right, because when he is wrong, you should let him cease to be your
customer. Sound advice!


Myth # 7: Customer and consumer is one and the same thing.
Reality: They are not! Customer is one who buys and consumer is one who
consumes and they may sometimes be different. Considering both to be the
same might be misleading for marketers. Cinthol maybe your favorite brand
of soap, but if the brand manager doesn't also target your wife in its
advertising campaign, she may just hate it and not buy it for you. Isn't
she the one who does most of the shopping?



As I always say brickbats and bouquets welcome!

-Sukhi