BNET continues to amaze me with their high quality marketing and business tips and information. I may just need to stop writing this weblog and just post an RSS feed to their posts. The snippets below cannot do this piece justice. The information in this piece is phenomenal. Go read it. The link is below.
Are marketing principles different for smaller versus larger companies?
The principles are exactly the same. Trouble is, a small company usually manages to stay small by ignoring these principles. Every large company was once a small company that became large—through good marketing. The biggest mistake people at a small company can make is thinking of themselves as a small company instead of thinking of themselves as a big company in its gestation period.
What makes a market leader into a leader?
Invariably, the leader in the category got to be the leader by being the first brand in a new category. Some examples:
- Coca-Cola, the first cola.
- Dell, the first personal computer sold direct.
- Domino’s, the first home delivery pizza chain.
- Gatorade, the first sports drink.
- Red Bull, the first energy drink.
What big companies introduced these brands? None. They were all started by small entrepreneurs like Tom Monaghan of Domino’s and Dietrich Mateschitz of Red Bull.
Some people call this leadership phenomenon the “first mover” advantage. But it’s actually the “first minder” advantage. That is, the brand that gets into the consumer’s mind first is the winner, not the brand that was first in the category. Du Mont made the first television set; Hurley, the first washing machine; Red Rock, the first cola. The MITS Altair 8800 was the first personal computer. But these and many other “first” brands failed to work their way in to the minds of consumers—they failed in marketing.