My earliest marketing success was the result of a business partnership with a neighbourhood friend when we were about 12 years old. Even at that early age we understood the most basic of all marketing principles: find a need and fill it.Copyright © GT Bulmer
http://www.StarrBizz.comOne hot summer day we decided that a Kool-Aid stand would be our quickest route to marketing riches.
We knew that "presentation" was half the battle of getting the attention of our targeted market and winning their confidence in our product. So the very first thing we did was design specialized paper hats with lettering that clearly announced, "Kool-Aid Vendor."
Next, we stretched our financial resources to the limit and purchased a couple of 6 gram packages of official Kool-Aid brand drink crystals. We understood that it was risky to sink our life savings into a marketing scheme that offered no guarantee of success or return, but we were confident that it was a calculated risk.
You see, we did our due diligence. We carefully analyzed the market conditions of the day: it was hot and sunny, so prospective customers should be thirsty. And we surveyed a sample group of targeted customers: kids in the neighbourhood who said "Sure! We'll buy Kool-Aid from you."
We then raided my Mom's cupboard for the required volume of sugar and carefully mixed up our first batch of product. After a few quality tests - very important before introducing any product to the market - we headed out into the field.
Our first customers were the kids from our sample group who had been watching our progress and were eagerly awaiting the results. See? Through advance promotion we had successfully created "market buzz!"
We charged them a penny or two, or maybe a nickel - whatever we could convince them to cough up. Encouraged by this early and enthusiastic response, we then went in search of new customers.
We found our windfall at the ball diamond on the next block. A few hot and thirsty ball players willingly forked over a nickel apiece for a cool glass of refreshment. Then one smart player offered to purchase the whole jug. We negotiated a fair price - $2 - and in one fell swoop, we unloaded our entire inventory! The crowd clamoured for more, but we had none to offer.
So, not wanting to waste a moment of obvious opportunity, we ran to the store, reinvested our profits in more drink crystals, then rushed back to my house to avail ourselves of more of the main ingredient from Mom's cupboard.
Unfortunately, when we returned to the ball diamond we discovered that the consumer had become wiser. Some of the spectators and family members of players brought in water jugs and other forms of liquid refreshment and the players were no longer interested in the services or the product of two aspiring junior entrepreneurs.
Since we had already tapped out the available funds of the kids from our neighbourhood with our first batch of Kool-Aid, we ended up sharing the remaining batch with them on an I.O.U. basis.
Still, it was a successful and immensely encouraging marketing experience for me and I'm certain that's where my passion for sales and marketing originated.
GT
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