Discover the Winning Marketing Strategy Secrets of Donald Trump Apprentice Wanna-bes
The highly entertaining Donald Trump's search for an apprentice turned into a hit reality TV show captured attention of millions of Americans and week after week delivered great insights into leadership, business and marketing savvy.
In one of the episodes Trump challenged the two opposing teams of apprentice wannabes (Apex and Mosaic) to put together a bridal gown sale.
Each team had to contact vendors, secure inventory, and most importantly, attract qualified prospects to generate the maximum profits. And here is the kicker - they had just 24 hours to do it.
(For more details see the blow-by-blow outline of this episode.)
Mosaic moved very quickly. They?
1. Zeroed in on a specific strategy: give other bridal shops' opportunity to sell their discontinued designs at drastically discounted prices.
2. Formulated a marketing plan: send 23,000 highly targeted email announcements to brides-to-be for a cost of $1,000
3. Divided and delegated the tasks and got busy implementing their plan.
As a result of a clear and attractive offer Mosaic easily attracted local bridal shops eager to get rid of their discontinued lines.
Meanwhile Apex jumped right into chasing potential vendors and - without a clear and enticing marketing message - endured one rejection after another.
Discouraged, they almost gave up before stumbling onto a helpful local bridal shop owner who managed to point them in the "right direction".
But just as they had no plan to attract vendors to their gown sale, Apex didn't give any thought as to who their target market was and where they could easily and quickly find large groups of prospects.
Their marketing strategy of handing out fliers at Grand Central and Penn Station (in New York) was unfocused and unnecessarily tied up team members' most precious asset - time.
The results?
Mosaic attracted a city-block-long line or eager-to-buy prospects and generated $12,788.94 in profits in one day! Apex brought in only a handful of buyers and a measly $1,060.47.
Wow! By following solid marketing principles Mosaic beat their opponents by generating almost 12 times as much profits as Apex. So what were their marketing secrets? Well, here they are:
1. THINK STRATIGICALLY! Before you get busy peddling make sure your boat is pointed in the right direction. Take time to formulate your strategy and outline a specific action plan and you'll save a time, energy and money, and create the desired results a whole lot faster!
2. Focus on a SPECIFIC TARGET MARKET! If you remember nothing else from this article - remember this one thing - to be successful you must focus your marketing efforts!
3. Find a "HIVE OF HUNGRY PROSPECTS"! Hundreds of thousands of disinterested passers-by at the Penn Station can't event compare to the power of a targeted email blast to 23,000 brides hunting for the best deal on their wedding gown. To quickly penetrate your niche find centers of influence and large networks of your potential clients and get your message in front of them.
4. Evaluate PRICE vs. COST! One of most damaging marketing mistakes is deciding which promotional tools and media to use based on price alone. Even though Mosaic chose a seemingly pricey promotion, ultimately it proved to be less costly based on the repose and results it created.
5. Profit from CO-OPETITION! If you choose your target market carefully there is more business out there than you can possibly handle. Don't fear your competitors - find a way to profit from their business.
Well, there you have it. Go back and read these five points several times. Consider for a moment what implementing these ideas might look like in your business. Make these principles the basis of your business and soon you too will be making money out of thin air - I guarantee it!
(c) 2004 Adam M. Urbanski
Adam Urbanski, the Marketing Mentor, helps Independent Service Professionals and Small Business Owners attract more clients. For more promotional tips and a FREE 32-page marketing guide go to http://www.themarketingmentors.com
Latest News
Arke Systems Sponsors Atlanta Integrated Marketing Summit MarketWatch - The half-day summit drew a crowd of over 500 professionals in the marketing, advertising, publicity, promotion, public relations and allied creative ... |
Bonnie Becker Joins InnoCentive as Vice President of Marketing MarketWatch - She was responsible for overall profit delivery, strategic positioning, long term vision, and marketing execution for these product lines. ... |
The First Book About Marketing Resource Management MarketWatch - Authors Romek Jansen and Frans Riemersma (MRMLOGIQ) explain in clear wording and through many illustrations how marketing departments can operate more ... |
Ifbyphone Names Industry Veteran Todd Curry Vice President of ... MarketWatch - Curry was previously the co-founder and president of e-marketing consultancy Ascenda Partners, LLC. Ifbyphone founder and CEO Irv Shapiro said: "Since Todd ... |
 International Business Times | Convio Names Sara Spivey Chief Marketing Officer MarketWatch - "Sara is a proven leader with a track record of success in brand development, creative product marketing and strategic business development," said Gene ... Convio creates new strategic position and promotes Fred Waugh Fred Waugh Assumes Role as Vice President, Alliances at Convio |
Sagefrog Survey Shows More Companies Are Outsourcing Their ... International Business Times, NY - The regional survey, compiled by Sagefrog Marketing Group, showscompanies in Philadelphia and NewJersey are spending 10% or more of their budget on ... |
Bales Worldwide Boosts Sales by Five Percent using Neolane Cross ... MarketWatch - Enterprise marketing software provider Neolane today revealed that its customer Bales Worldwide, a tour operator, has increased sales by some five percent ... Cross-Channel Marketing Arrives: Aberdeen Group Defines the Next ... |
mDialog Welcomes Paul Vogelzang as Chief Marketing Officer MarketWatch - Paul Vogelzang, a web 2.0 marketer and digital influencer, has joined mDialog as chief marketing officer. -- mDialog is a company committed to delivering ... |
Head of PlayStation Marketing to Share How Sony Changed the Game ... MarketWatch - Dille is a 20-year marketing veteran with over 15 years in the gaming industry, including playing a pivotal role in the launch of the original PlayStation ... |
Veteran Retail Executive Joins Whole Bakers as President, Sales ... MarketWatch - McAuliff is a well known and successful retail, sports and entertainment marketing executive. For the past 20 years, McAuliff has generated millions in ... |
Resources
-
Sorry Currently Unavailable