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Friday, July 09, 2010

Why Advertising For Bad Products Still Works

The supposedly innocent BBC interviewer asked the interviewee why companies who advertised at the World Cup were prepared to pay so much money for this sponsorship.

He said, “Companies crave such unique chance for mass exposure in order to associate their product with this immensely popular sport to the world-wide audience. However this means you must have a good product to sell. If you have a bad product people won’t buy it.”

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I thought about this for a second. Why didn’t the interviewer ask the next question that to me seems obvious?

How do people know it a bad product UNTIL they buy it? From bitter experience I know that it is only once I purchase a product that I find out that the advertising and hype were bullshit and the product is a clunker.

What the interviewee really means, and perhaps he may not know he means this because his beliefs in the capitalist mentality cloud his objectivity, is that if you have a bad product, people won’t buy it AGAIN. But even with that qualification, for one-off sales to the susceptible segments of a world-wide audience, immense profits are there to be reaped.

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Your faithful economics adviser

E@L

2 comments:

Tim Footman said...

Consumer capitalism only works if enough people don’t understand it.

tony said...

Sometimes,when the product turns out to be crap , things get even better! for Example

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