David Scott in his book, "The New Rules of Marketing & PR" advises markets to scrap the traditional 4 "P's" of marketing, namely, product, place, price and promotion, for a simpler more effective approach. He recommends marketers first consider their organization's goals and then focus on their buyers. One only needs to look at Harley Davidson to see how effective this approach is.
In the late 90’s it seemed that Harley Davidson was just another American company struggling to stay afloat amid the stiff foreign based competition. Americans had repeatedly witnessed the weakening of “our” corporations as the foreign competition heated up. The automobile industry was a prime example of a once proud industry that was brought to its knees as foreign automobile manufacturers were able to not only match but surpass American manufactures in the areas of quality and value. One couldn't help but wonder if Harley Davidson would face a similar fate as foreign competitors such as Honda, Suzuki, Yamaha and Kawasaki continued to encroach into Harley Davidson’s market. But the performance of Harley Davidson stock indicates just he opposite.
A look at the Harley Davidson mission statement and their marketing strategy reveals some valuable insights for company’s success. Harley Davidson’s mission statement doesn’t focus on the obvious but rather focuses on life improvement through dream fulfillment; “We fulfill dreams through the experience of motorcycling, by providing to motorcyclists and to the general public an expanding line of motorcycles and branded products and services in selected market segments”
While other motorcycle manufactures have marketed to the more obvious younger riders, Harley Davidson has focused on older, more financially stable market. As the “baby boomers” age, they look to recreational outlets that enable them to fulfill the dreams that have been shelved while they pursue their career goals and raise a family. As the kids leave and the career seems to be on auto pilot, they find themselves wondering, “is that all there is?’ At the same time the prospects of qualifying for a senior citizen discount has lost some of its allure. All of a sudden the idea of donning the leathers and riding off into the sunset on a “hog” sounds pretty appealing. Harley Davidson's mission of dream fulfillment resonates strongly with this market. In fact is resonates so strongly that Harley Davidson has been able to capture 49% of sales at the same time pricing their product 50% more than their competitors.
As dentists we face similar challenges as Harley Davidson, competition is strong, not only from our peers but also from other businesses who compete for our patient's discretionary dollars. As Scott recommends, by first determining on our practice/business goals and focusing on our buyer/patients, we can develop a marketing plan that will distinguish us from our peers and reach those patients who are desirous of our services.
In the late 90’s it seemed that Harley Davidson was just another American company struggling to stay afloat amid the stiff foreign based competition. Americans had repeatedly witnessed the weakening of “our” corporations as the foreign competition heated up. The automobile industry was a prime example of a once proud industry that was brought to its knees as foreign automobile manufacturers were able to not only match but surpass American manufactures in the areas of quality and value. One couldn't help but wonder if Harley Davidson would face a similar fate as foreign competitors such as Honda, Suzuki, Yamaha and Kawasaki continued to encroach into Harley Davidson’s market. But the performance of Harley Davidson stock indicates just he opposite.
A look at the Harley Davidson mission statement and their marketing strategy reveals some valuable insights for company’s success. Harley Davidson’s mission statement doesn’t focus on the obvious but rather focuses on life improvement through dream fulfillment; “We fulfill dreams through the experience of motorcycling, by providing to motorcyclists and to the general public an expanding line of motorcycles and branded products and services in selected market segments”
While other motorcycle manufactures have marketed to the more obvious younger riders, Harley Davidson has focused on older, more financially stable market. As the “baby boomers” age, they look to recreational outlets that enable them to fulfill the dreams that have been shelved while they pursue their career goals and raise a family. As the kids leave and the career seems to be on auto pilot, they find themselves wondering, “is that all there is?’ At the same time the prospects of qualifying for a senior citizen discount has lost some of its allure. All of a sudden the idea of donning the leathers and riding off into the sunset on a “hog” sounds pretty appealing. Harley Davidson's mission of dream fulfillment resonates strongly with this market. In fact is resonates so strongly that Harley Davidson has been able to capture 49% of sales at the same time pricing their product 50% more than their competitors.
As dentists we face similar challenges as Harley Davidson, competition is strong, not only from our peers but also from other businesses who compete for our patient's discretionary dollars. As Scott recommends, by first determining on our practice/business goals and focusing on our buyer/patients, we can develop a marketing plan that will distinguish us from our peers and reach those patients who are desirous of our services.
2 comments:
Great Job on the blogging! The webpage looks great! I know that if I were in dentistry..this would be my place to come to make me not only a dentist, but a dentistCEO!!!
Keep up the good work!
VCL
Thanks Vaughn for you help.
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