Product Management and the inspirations around it - a Malaysian point of view.

Thursday, February 28, 2008

The 16 Hot Buttons of Marketing and Sales

Today I learned about the 16 hot buttons that drive all purchase behavior from Mr. Barry Feig.
Here's the list
  1. The desire to control - over one's destiny, finances, health, relationship and even food and shelter.
  2. I'm better than you - the need to have status and feel significant.
  3. Joy of discovery - joy of discovering is uncovering the unexpected joy.
  4. Revaluing - as baby boomers enjoy a new phase in life, they are going back to the things they loved as kids.. but with a new twist.
  5. Family values - quality time with families are still of utmost importance to many societies.
  6. The desire to belong - people want to be associated with people like themselves, they show products like badges.
  7. Fun is its own rewards - people want to have fun.
  8. Poverty of time - nobody has enough time (but you can't substitute convenience for quality).
  9. The desire to get the best that can be got - assert your product leadership position.
  10. Self achievement - "be the best that you can be" is a strong motivating factor; intrinsic rewards are as important as extrinsic rewards.
  11. Love of cosmo - sex sells, so does love and romance.
  12. The Nurturing response - people like to nurture even more than being nurtured, make your customers the hero with your product.
  13. Reinventing oneself - give them a chance to start over.
  14. Make me smarter - people want to FEEL that they are smart for buying your product.
  15. Power and dominance - aspiration to be more than in control of your environment.
  16. Wish fulfillment - give the consumer to power to fly, market to aspirations.
Isolate and combine them, Push them!
You can read Barry's own description here.

Other wisdoms I've learned today:
"Perception is reality."
"There are no features - there are only benefits. Customer buy benefits, not features."
"Focus on delivering outcomes, not products."

And a note on measuring success (and all the talk about KPIs):
"Simplicity applies to measurement also. Too often we measure everything and understand nothing." ~ Jack Welch.

Valuable day indeed.

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