When the humble kaapi met the affluent Latte!

I wonder, when the co-founder of Starbucks, Zev Siegl recently visited Bangalore's heritage shop - Vidyarthi Bhawan for a quick taste; he must have done this thousands of time;sampling coffees across continents and soaking in how consumers sip coffee everywhere.

With glocalisation, it's important that brands offer consumers to taste the best of both worlds - signature stuff the brand stands for globally as well as modification or new products lines keeping local sensibilities and flavours in mind.

#Starbucks this year has launched filter coffee & masala chai in their menu along with stuff like chole kulche in India.

#McDonald's has been selling Aloo tikki burger for years now in India and it has been adopted in the global menu under vegan options.

#Snickers introduced the veg version in India only (eggless).

#harleydavidson recently launched tough turbans in thier range of accessories considering a lot of sikhs community drive thier vehicle.

But for all that thing to happen, understanding consumers by immersing themselves in the market is what is a must!

#consumerbehavior #marketing

Top 5 ways to build habit forming products?

Top 5 ways to make your product a habit-forming one?

'Hooked' by Nir Eyal is a must read on the subject. My picks from the book -

1. Become a Guru.
Thats what most brand build - a library of great Content on thier transactional apps - like #Zerodha varsity.

2. Become a Friend.
Personalize. Recommend. Valuable reminders. That wife's anniversary tip. #Cred saves the day on bills.

3. Become a Community.
Standing for a common cause in the category & solving consumer pain points. #Nike+, Redbull have embraced this so well.

4. Dont build point programs for loyalty. Build VAS, consumer will pay for. Like #Amazon Prime.

5. Don't make a super app to build frequency. Cut confusion. Retain focus.

What would you add there?

#product #marketing  #growth #book

Peak End Rule - Whats more memorable - Dhoni's six Vs Gambhir's 97?

More memorable of 2011 world cup - Dhoni's hitting 6 in 2011 world cup (91*) or Gambhir's above the order 97?

You went to a movie. The beginning and the middle was boring. But the end was awesome. Your mind will still rate it - awesome. (Bruce Willis's Sixth sense?)

Apart from the end, we also remember some of the extreme scenes in the middle; those peaks that were unusually good or worst. (Kashmir Files' 2 extreme scenes!!)

That's peak-end rule at play. 

When we remember something, our brain ignores most of it. It picks only the 'peaks' and the 'end' more than anything out of a story, movie, #content..any experience; and makes an assessment of it, based on that only.

Despite a poor #experience throughout, if the brand makes it sweetest at the end, your #NPS rating would still be 8-10/10. 

So, its important that as marketers, we build those peaks in our content or experiences along with pleasant endings. 

That unique mouth freshening pouches in a restaurant. Or that peak moment clicked at a Disney ride given at end!

Any relatable examples?

#marketing 

How much is that connected TV costing you?

Smart Idiot box draws 25% of waking life!

Our attention is the biggest resource to be managed, along with the time we fill for it.

Series on Apps like #netflix increasingly use ‘peak end’ rule, to leave you wanting more after each episode & making you binge watch.

How to get out of it?

Fix the time slot and pause after it to resume later next day, vs binge watch.

Connected TV means control is with you vs with the now smart idiot box.

Don’t lose control.

On of my favourite speakers, Jim Rohn mentions a story - When he asked his friend on how much did this grand ultra sized recently purchased TV costing him, his friend mentioned proudly the price tag.

Later jim told him, that the cost is actually several million dollars over the years, of the time that it will suck perenially.

Who much is the smart idiot box costing you?

#smart #entertainment

Psychology behind 'I know'

Psychology behind 'I know' 

Generally when asked about something, our default response (despite having a very hazy idea) is that 'I know'. 

In an experiment, people were asked if they know 'how zippers work?'

And then asked to rate themselves on a scale of 10 on how well they know it.

Then they were given a pen and paper to explain. And again asked to rate. 

Their scores plummeted.

This phenomenon is called the ‘Illusion of Explanatory Depth’.

The illusion that we understand things better than we actually do. 

We think we understand how things work. Even when we don’t.

This often leads to - 

☝️ end of conversation as the other person stops and doesnt explain further 

✌️ you remain poorer under this mirage that you know.

How to counter this?

👉Convert 'I know' to saying 'I want to know'.

👉Be the last one to speak, if you really want to educate yourself.

Have you caught yourself in a conversation saying 'I know' when somebody just started saying something?

 #work #life #tips #growth