The 60-30-10 Rule...
 

Below is a link to an article describing the "60-30-10" rule used by many catalog marketers.

I bring it up because it adds more insight to the discussion of a few days ago on what is most important...the target group...the product...the marketing...or the timing of the offer.




The rule catalogers go by to achieve success...

Typically flawed egghead article
 

Hi,

By flawed I mean verbose, inconsistent and based on theory instead of fact.

Hope this helps,

- Boyd

OK Boyd Don't Hold Back Tell Us What You Really Think!
 

> Hi,

> By flawed I mean verbose, inconsistent and
> based on theory instead of fact.

> Hope this helps,

> - Boyd

Boyd,

I don't disagree with you that the article is more opinion based than fact based...which is OK if that is how the author is presenting the article.

I can tell you after having spent time at a large catalog company as a Marketing Specialist and as a Marketing Director at a smaller firm the "60-30-10" rule was never discussed at either firm.

What is your opinion on what the percentage breakdown should be?

Take care,

Mike W.

I have to apologize
 

Hi,

I was massively stressed when I posted that message, and I must apologize for its tone.

Best,

- Boyd

What helps to make a successful product....
 

Hi Mike,

Thanks - an interesting article!

I personally agree that the "product" is the most important part of the "mix".... It's important to have a good product that's "in demand"....

That's why a lot of successful product developers keep a close eye on trends.... They want to be ahead of the "demand curve", and be there with their product right when people want to buy!

As for "service" - I see that as a part of the "product".... I guess I tend to see the "product" as the whole "package".... Both the "stuff" you get plus the "intangibles" - things like the business's reputation, the service, the guarantee, etc. That's all part of the "product" the way I see it.

At the minimum, you have to give people what they "expect". For example, if they expect to be able to return a shirt that doesn't fit, you should make sure they can do so, or you'll probably lose sales to your competitors. Of course, it's even better if you can exceed people's expectations.... That helps to inspire real customer loyalty.

I'm influenced in this view by the book "Marketing High Technology" by William Davidow (I highly recommend it). It's a marketing "classic" (published in 1986). Davidow was the marketing head of Intel, and he's responsible for their great marketing in beating their major competitors like Motorola in the microchip market.

It may not sound like marketing microchips will have a lot to do with other types of marketing - but it does. Intangibles - like brand name, ready availability, and service - play a big role in marketing microschips, as they do with many other products.

Anyhow, thanks Mike - interesting article. :)

- Dien Rice

Re: What helps to make a successful product....
 

The mix sounds roughly correct, product
idea and positioning makes a huge difference.
Really see a trend where product developers
and marketers are really taking their product
creation to the market. With the advent of
web survey technologies, survey kiosk machines
and other unique ways of polling customers -
creating high-demand ideas is back in the
spotlight.

A really good book on the topic of innovation
vs marketing/advertising is "Thinking for
a Living" by Joey Reiman. Mr Reiman crossed over
from many years in advertising to starting his
own Idea Factory - fascinating story of where the
true power in today's market is.

Jeff

> Hi Mike,

> Thanks - an interesting article!

> I personally agree that the
> "product" is the most important
> part of the "mix".... It's
> important to have a good product that's
> "in demand"....

> That's why a lot of successful product
> developers keep a close eye on trends....
> They want to be ahead of the "demand
> curve", and be there with their product
> right when people want to buy!

> As for "service" - I see that as a
> part of the "product".... I guess
> I tend to see the "product" as the
> whole "package".... Both the
> "stuff" you get plus the
> "intangibles" - things like the
> business's reputation, the service, the
> guarantee, etc. That's all part of the
> "product" the way I see it.

> At the minimum, you have to give people what
> they "expect". For example, if
> they expect to be able to return a shirt
> that doesn't fit, you should make sure they
> can do so, or you'll probably lose sales to
> your competitors. Of course, it's even
> better if you can exceed people's
> expectations.... That helps to inspire real
> customer loyalty.

> I'm influenced in this view by the book
> "Marketing High Technology" by
> William Davidow (I highly recommend it).
> It's a marketing "classic"
> (published in 1986). Davidow was the
> marketing head of Intel, and he's
> responsible for their great marketing in
> beating their major competitors like
> Motorola in the microchip market.

> It may not sound like marketing microchips
> will have a lot to do with other types of
> marketing - but it does. Intangibles - like
> brand name, ready availability, and service
> - play a big role in marketing microschips,
> as they do with many other products.

> Anyhow, thanks Mike - interesting article.
> :)

> - Dien Rice




How To Create Hot Selling Information Product Ideas