Marketing To Non-Marketable Customer

Buzz marketing, also known as 'word-of-mouth marketing', 'guerrilla marketing' or 'stealth marketing' is an art of human kind to involve the trendsetters in any community to carry the brand's message, thus creating an interest in, and a demand for, the brand with no overt advertising.
Nirmalya Kumar, professor of marketing, director of center for marketing and co-director of A.V. Birla India at London Business School.
When Dietrich Mateschitz formulated the drink "Red Bull" in 1987 for Australian market, bars initially refused to stock it, seeing it as more of a medicinal drink than a mixer. However snowboarders and clubbers soon recognized the boost it gave them. They started to bring it with them to non - alcohol bars and pubs.
Red Bull has mastered the buzz marketing. In the 8 sales area in US, the representative scouts for the hot spot. They distributed their branded refrigerator and some goodies to the bars and clubs. If other conventional establishments ask for Red Bull, they refuse them to retain the credibility and uniqueness of their community and clubbers. To connect this community, Red Bull use to organize a two - week annual music festival.
Red Bull first marketing technique was to distribute and target the teenagers and college goers. They went where these guys goes. Then Red Bull went around the cities full of Red Bull cars and distributed the drinks to anybody who need energy- Free, the construction workers, Athletes and all.
Coke and Pepsi recognized a new segmentation of their market and tried to capture it with big marketing budget. They created energy drinks. But after millions of write off they are distance number 3 and 4. Red Bull is still the king of energy drink with 65% of market and that is with the fraction of their spending.
Five years back on internet, Google started it operation in the dorm of two Stanford guys (You do not need to know there name, I guess) they created a system for search and marketed it on net with minimal of advertising. End result, after 3 years they become numro uno in search - marketing in the presence of heavy spenders like Yahoo, overture etc
That the power of Buzz marketing. Gone are the days when you write a Cheque for your ad agency and agency will do the marketing. According to Philip Kotler, advertising is a lazy way of marketing and branding. You outsource almost everything, even your brand's undergarments. Traditional marketer thinks that job is over. But buzz marketing is an engaging art of marketing. It is a hard way to market a product and services. Most of marketers do not like it. Because they like their comfortable air-condition rooms.
But in real world, you can't close your eyes and think that your competitor will take pity on you. They are here to eliminate you. Buzz marketing is not a passé' anymore. It is here and happening.
CEOs, be aware, if your people are saying they need different budget for branding, marketing and sales. Think again, someone is not ready to move his butts.

Incorporating Tips

Capitalizing a new business entity is a critical step of the formation process. Failing to take the step can lead to serious legal problems if the entity is ever sued. So, what is capitalization and what steps must be taken?

Capitalizing Your Corporation

"Capitalization" essentially refers to funding your corporation. In essence, you are providing substance to the entity in the form of money or property. Typically, the funding process works in two ways.

Corporate Stock

You must own stock in a corporation to be considered a shareholder. You are already familiar with this concept if you trade on the stock market. For instance, assume you bought stock in Sirius Radio in anticipation of Howard Stern moving to the station. You purchased stock through a brokerage or retirement vehicle by exchanging money for shares. Technically, you are a shareholder in the corporation. Your own corporation is no different.

The fact that you paid money to have a corporation formed does not make you a shareholder. You must exchange property, cash or services to obtain stock from the entity. Only then are you a shareholder in the entity. This is more easily explained with an example.

Assume I start a corporation for the purpose of providing consulting services to other businesses. The corporation is formed with 10,000 shares and I am going to be the sole shareholder. I have cash and certain assets that I am going to use as part of the business. I decide to exchange $3,000, a copier, fax machine and computer equipment for stock in the entity. This exchange should be reduced to writing, but will constitute the capitalization of the corporation.

Corporate Loan

You can also loan money to a corporate entity for start-up costs. There is no prohibition against a shareholder providing money to a corporation. The loan process should not completely replace the purchase of stock. From a tax perspective, however, dividing your initial capitalization into a partial loan can have distinct advantages.

Inadequate Capitalization

State laws govern the formation of a corporation. Inevitably, these laws set forth amounts or formulas for determining the minimum capitalization amount required for a corporation. You must review the laws in your state to determine the amount and make sure you meet the contribution minimums.

Failure to properly capitalize you corporation can result in disaster if the entity is ever sued. Simply put, the suing party may argue that the lack of capitalization means the corporation was never a viable entity because it had insufficient funds to back debt obligations. The argument gets complicated, but suffice to say you are in serious trouble if a court agrees with the argument. Typically, the court will "set aside" the corporate entity, exposing each shareholder, director and officer to the risk of personal liability.
Obviously, such a scenario would be a disaster.

Choosing an Intimate Conference Venue

So you're looking for a conference venue? Not the size of the Taj Mahal, but something just as impressive. A venue with the right amount of space, flexible catering, including accommodation and the right facilities.
This is where the elegance, style and the intimate nature of an independently owned hotel works well as a conference venue. These venues add their unique character and extraordinary service to your event. Finding the perfect environment sets the necessary tone, playing an important part in achieving your desired outcome.
Whether you're hosting a meeting, conference, workshop, training course or social occasion here are a few things to look for in a hotel venue.
Space,
Does the hotel have the space you require? Whether the focus of your event is a meeting, banquet or an exhibit, space can be the a factor that is usually underestimated.
Avoid hiring a venue that is big enough to seat 200 when you're only hosting a 20-person meeting. You only want to consider venues that can handle the event you're planning. It is advisable to schedule a visit with your potential host prior to the event ensuring the venue meets your space requirements.
In the case of an event where the number of guests is uncertain, make sure there are sufficient break-away rooms to avoid congestion.
Catering
Bear in mind that catering needs to meet the special dietary requirements of your guests. Hotels have a flexible menu and unlike a catering company, the kitchen is at hand when you need it.
Conference Styles
Check to see if the hotel can host various conference styles including a theatre for presentations, a classroom with a blackboard, a reception area and of course a boardroom.
Location
Find a centrally located venue, close to stations and some of the areas main attractions as well as being within easy reach of the airport. With easy access by rail, tube or road, your guests will arrive for your event in good time and ready for the day you have planned.
Equipment
Small details like air-conditioning make a huge difference. It helps a great deal if the hotel is equipped with latest audio-visual facilities, this way you can avoid lugging around your own equipment or having to rent from a supplier.
Another thing to check for is high-speed Internet or wireless Internet.
Accommodation
The one drawback with venues like convention or conference centres, is that you would need to use a nearby hotel for accommodation. If your event is extended by more than one day, a hotel becomes rather convenient. Depending on the number of guests, most hotels will provide a discount on accommodation.
The hallmark of an independently owned hotel is the unique ambience provided by the venue. Staging an event in the right setting is conducive to a receptive audience. The wrong venue, whether inappropriately large, under serviced or under equipped, can have undesirable results.
Consider one of your local hotels the next time you host an event.