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You are here: Home > Business > Marketing > How Much Is Your Popcorn Worth? Powerful Lessons In Marketing & The Psychology Of Selling - Part 1 |
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Casual Articles - How Much Is Your Popcorn Worth? Powerful Lessons In Marketing & The Psychology Of Selling - Part 1
Where Have All The Honest Managers Gone? heatre and once you are in, there is no where else to purchase popcorn."I well remember as a young bank clerk many years ago, sitting at my desk one morning. Around me were the sounds of hustle and bustle of a busy office – people were sipping their coffee (in those days it was instant!) opening the mail (ah, for the days before email!) and telling of the events of last evening or their trip to work that morning. As a morning person, it was my best time of the day when I was at my most positive, creative and effective best, so I had my head down and bum up. Time later for relax That's not necessarily a wrong answer. But, it does make one wonder... If they corner their customers in this way and charge them high prices, wouldn't most customers be either outraged not to buy, or at least not buy again, in the future? The question that comes up is... why do they continue to buy it and pay these outrageous prices? Another subscriber suggested... "People don't go to see the movies everyday. So, they are willing t Does the Employee Make the Grade or Hit the Road? In the following 'special report,' I will reveal some very powerful marketing strategies and psychological motivators that can easily help you make more profits from your business, no matter what business you're in.You have an employee that hasn't improved through discussions and finally decide an official probation period is necessary. Meeting with your employee to discuss probation is only the beginning. Now you both have work to do.Mark your calendar with every deadline you mentioned in the probation memo. You need to follow-up on each one with your employee. Read my "Tracking Your Employee's Success or Failure" article in this series for more detailed information. Probation periods are usually 90 days because, Be sure to read it thoroughly, and take notes as needed so that you can take maximum advantage of the information being covered. Here's how it all began… One day, I noticed an interesting marketing concept. So, I sent my subscribers an interesting question. Here's what I sent to them... ------------------------------------ "If you had to sell popcorn, how much would you be able to charge for it? Most of us would be willing to spend around one to two dollars on it. And I'm talking about a nice sized bag. But, here's something interesting... Movie theatres charge 3 to 6 dollars for their popcorn! And you don't even get nearly as much popcorn as you'd get elsewhere! What's the deal? Is their popcorn "special?" Not really. But they're still able to charge 2 to 3 times more than others and still have people buying in droves. How are they doing it?? If you can answer that, I'll give you a special prize. :-) Just reply to this note with your answer. It doesn't have to be the right answer, as long as you stop to think about it." ------------------------------------ Within minutes of sending the email out, the responses started pouring in… Some were extremely short and to the point, with statements like... "Because they can" or "It's the smell" or "Because people get hungry." Yes, some people do get hungry and have to buy 'something.' But that's not the bulk of the buyers by any means. And...if they get hungry and are forced to pay the high prices, they mostly likely will not want to be caught in that situation again, will they? And, yes, some do buy it because they can't resist the smell. But there's more to it than that. Other answers said, "It's the perfect location" … "Supply and demand" … "Captive audience." Another answer stated... "Monopoly! You can't bring anything into the theatre and once you are in, there is no where else to purchase popcorn." That's not necessarily a wrong answer. But, it does make one wonder... If they corner their customers in this way and charge them high prices, wouldn't most customers be either outraged not to buy, or at least not buy again, in the future? The question that comes up is... why do they continue to buy it and pay these outrageous prices? Another subscriber suggested... "People don't go to see the movies everyday. So, they are willing t Don't Waste Your Talent: Finding The Right Career For YOU -------------------------------As I watched the all star game, it struck me how we need to consider our talents and how they fit into this game called life. What position can we play that brings us excitement, challenge and success? A position that allows us the opportunity to work hard yet is worth the effort. A position where sometimes we succeed and sometimes we fail but always feeling the importance of the position as it delivers benefits to the team?In my work, I strive to assist others in understanding the answers to these q "If you had to sell popcorn, how much would you be able to charge for it? Most of us would be willing to spend around one to two dollars on it. And I'm talking about a nice sized bag. But, here's something interesting... Movie theatres charge 3 to 6 dollars for their popcorn! And you don't even get nearly as much popcorn as you'd get elsewhere! What's the deal? Is their popcorn "special?" Not really. But they're still able to charge 2 to 3 times more than others and still have people buying in droves. How are they doing it?? If you can answer that, I'll give you a special prize. :-) Just reply to this note with your answer. It doesn't have to be the right answer, as long as you stop to think about it." ------------------------------------ Within minutes of sending the email out, the responses started pouring in… Some were extremely short and to the point, with statements like... "Because they can" or "It's the smell" or "Because people get hungry." Yes, some people do get hungry and have to buy 'something.' But that's not the bulk of the buyers by any means. And...if they get hungry and are forced to pay the high prices, they mostly likely will not want to be caught in that situation again, will they? And, yes, some do buy it because they can't resist the smell. But there's more to it than that. Other answers said, "It's the perfect location" … "Supply and demand" … "Captive audience." Another answer stated... "Monopoly! You can't bring anything into the theatre and once you are in, there is no where else to purchase popcorn." That's not necessarily a wrong answer. But, it does make one wonder... If they corner their customers in this way and charge them high prices, wouldn't most customers be either outraged not to buy, or at least not buy again, in the future? The question that comes up is... why do they continue to buy it and pay these outrageous prices? Another subscriber suggested... "People don't go to see the movies everyday. So, they are willing t Begin Banishing Your Marketing Overwhelm! s and still have people buying in droves.Marketing your business can be quite overwhelming. There are so many choices! It’s difficult to know the right things to do. By properly preparing, you gain confidence and have a much greater chance for success. Even before completing any preparatory work, ask yourself these tough questions:1. Why are you in this business?2. Do you believe in your product/service?3. What are you trying to accomplish?When you believe in your product and understand why you’re doing what you’re doing, How are they doing it?? If you can answer that, I'll give you a special prize. :-) Just reply to this note with your answer. It doesn't have to be the right answer, as long as you stop to think about it." ------------------------------------ Within minutes of sending the email out, the responses started pouring in… Some were extremely short and to the point, with statements like... "Because they can" or "It's the smell" or "Because people get hungry." Yes, some people do get hungry and have to buy 'something.' But that's not the bulk of the buyers by any means. And...if they get hungry and are forced to pay the high prices, they mostly likely will not want to be caught in that situation again, will they? And, yes, some do buy it because they can't resist the smell. But there's more to it than that. Other answers said, "It's the perfect location" … "Supply and demand" … "Captive audience." Another answer stated... "Monopoly! You can't bring anything into the theatre and once you are in, there is no where else to purchase popcorn." That's not necessarily a wrong answer. But, it does make one wonder... If they corner their customers in this way and charge them high prices, wouldn't most customers be either outraged not to buy, or at least not buy again, in the future? The question that comes up is... why do they continue to buy it and pay these outrageous prices? Another subscriber suggested... "People don't go to see the movies everyday. So, they are willing t Managing Small Business Finances people do get hungry and have to buy 'something.' But that's not the bulk of the buyers by any means. And...if they get hungry and are forced to pay the high prices, they mostly likely will not want to be caught in that situation again, will they?TOP TEN TIPS FOR MANAGING YOUR SMALL BUSINESS FINANCES Always work on the basis that you’ll need more than you actually do.You often only have one chance of raising money so remember that when working out your figures. If your figures are too conservative, it could have a huge impact on the future of your business. The bank is not the only place to get money.Having said that, don’t go anywhere near Loan Sharks but always keep in mind that other resources can be available. And, yes, some do buy it because they can't resist the smell. But there's more to it than that. Other answers said, "It's the perfect location" … "Supply and demand" … "Captive audience." Another answer stated... "Monopoly! You can't bring anything into the theatre and once you are in, there is no where else to purchase popcorn." That's not necessarily a wrong answer. But, it does make one wonder... If they corner their customers in this way and charge them high prices, wouldn't most customers be either outraged not to buy, or at least not buy again, in the future? The question that comes up is... why do they continue to buy it and pay these outrageous prices? Another subscriber suggested... "People don't go to see the movies everyday. So, they are willing t Ride The Gray Train To Increased Profits heatre and once you are in, there is no where else to purchase popcorn."Something is roaring into the business community’s depot that has been building momentum for years. I call it the Gray Train. On December 31, 2004, the last Baby Boomer turned 40, pushing that train to full throttle. Marketers are missing the obvious and not-so obvious opportunities to grow their businesses with this appealing audience.Self-indulgent Baby Boomers want what they want, now. They have business expertise, have received all sorts of training from their corporate employer and now that educati That's not necessarily a wrong answer. But, it does make one wonder... If they corner their customers in this way and charge them high prices, wouldn't most customers be either outraged not to buy, or at least not buy again, in the future? The question that comes up is... why do they continue to buy it and pay these outrageous prices? Another subscriber suggested... "People don't go to see the movies everyday. So, they are willing to pay the high prices once per weekend." Sure, that's possible. Although, I think at some point, they'd get tired of having to pay the high prices, wouldn't you say? They can't be paying the high prices just because they 'have to.' It's gotta be because they 'want to.' But, why would they want to, despite the outrageous prices? Could it be that price just isn't an issue in this case? Hmm… One subscriber started a discussion in his office, and sent these responses... "Some said it's because it's the only place you can get "Movie theatre" popcorn, some said because the taste or when they smell it - they have to have it. Others said because they have to be eating something. My thought is because they have the market trained. And, it didn't start with this generation... Parents brought their kids to the movies and either by example or verbally trained the kids to buy popcorn at the movies - It's just what you do..." Ahh... now we're getting somewhere. ;-) To read the rest of this special report, you can download it here: http://www.trafficstrategiesonsteroids.com/popcorn.pdf (Feel free to use this article online and in your email newsletters as long as you leave it intact and do not alter it in anyway. The by-line and resource box must remain in the article all links must be active hyperlinks.)
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