The Marketing Mix 1. PRODUCT (05:58)
Brompton Bicycle Managing Director, Will Butler-Adams states that the company's marketing strategy is to get the word out there by talking about their product. He believes the reason people pay a premium price for their product is because the bikes perform to customer expectations.
The Marketing Mix 2. PROMOTION (06:03)
Charlotte Borger states that getting an advertisement noticed is tricky. The commercials have to say something different from other similar businesses. The Divine Chocolate Company used African models in their campaign marketing that did not look destitute.
The Marketing Mix 3. PLACE (03:42)
Marketing Consultant Matthew Eccles states that multi-channel distribution is the future. Climatecars Founder Nicko Williamson picked London to establish his business because it housed big industry with many polluting cabs.
The Marketing Mix 4. PRICE (06:19)
Getting the price right is a major marketing decision. Customers like a good deal, but setting the price too low can put a new company out of business. Using the cost-plus method is a good way to price your product.
P is for PROPOSITION (03:38)
The four P's are a useful framework, as long as the company takes them in a wider context. They are helpful when a company creates up marketing strategies. Eccles believes the world has moved away from the basic four P's.
Oliver James is a psychologist and author of "Affluenza" and "The Selfish Capitalist." He argues that in a consumerist society, people confuse the definition of having with the meaning of the word being, which leads to anxiety and depression.
Advertising at Brompton (04:53)
Brompton Bicycle Marketing Manager Emerson Roberts states that advertisements placed in "Private Eye" offered a competitive deal. He cites the inventor of the folding bike who was awarded the Prince Philip Designers Prize. After the press coverage, the company saw an immediate rise in website hits.
Fear Component in Advertising (05:41)
James states that rising levels of mental illness in America and the United Kingdom are directly linked to a culture of selfish capitalism. He states that mental illness in the two nations are three times higher than in mainland Europe.
Market Research from Big Retailers (03:19)
Alistair Menzies, Head of Sales and Marketing for the Divine Chocolate Company, states that he does little in the way of marketing. The 2012 Olympics provided Brompton Bicycles an opportunity to market their exclusive folding bikes to a larger audience.
Innovation Happenings (02:44)
Eccles states the first thing you can check on is your competition. Borger states that her company learned from bigger establishments that sold sweets. The Climatecars Company had no competition when they first started.
Evolving Products (07:02)
Butler-Adams states that the folding bike is a good design for the urban environment. The Brompton World Championship is an event where people race their one of kind bikes. The first race started in Barcelona with approximately sixty racers.
Brompton's Relationship with the Press (01:31)
Sponsors approached the builders at Brompton, because they wanted to be involved in the production of something that had never been done before. When a British manufacturer in London did well during a downturn in the economy, people took notice.
Free Cars (02:37)
Climatecars did some brand association. The company provided mini cabs for London Fashion Week and gave vehicles to charity auctions. The Divine Chocolate Company found Twitter to be a useful marketing tool.
Always be Learning (03:36)
Butler-Adams states that a company will not find out what things went wrong with a product until months after people have used it. He uses this information to make product improvements.
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