Consumerism has invaded the global economy like an untamed virus and marketers are faced with high consumer expectations and low brand differentiation. This leads us to believe that brands need to know the pulse of the consumer and innovate to adapt…..or perish.
The Harry Potter Story is an enigma and reflects how disruption in the market place can be responsible for top of mind recall among consumers even at the cost of deviation from the norm. Anyone who desires to break out of the doldrums of traditional marketing and is willing to take the risks associated with a contrarian approach can take away valuable lessons and experience the new age marketing magic driven by the lessons from the marketing success of Harry Potter.
“Disruption” is the new buzz word in the market place. The new age market place in a socially driven internet economy is increasingly reflective of the “Cluetrain Manifesto” which states that “Markets are conversations”. In this social economy, markets are indeed conversations as your consumers are talking about you and shaping your brand. It really does not matter whether you care to listen to them or not.
Today, people that are successful with marketing use innovation and disruption to make a mark and understand that game changing innovation is the only constant to sustain a brand.
In the new age, “Competitive Positioning” is extremely important as consumers find it impossible to judge anything in isolation. We tend to compare things which are close alternatives relative to other products and services in the category.
Harry Potter is among the most noteworthy brand stories of late years. The Harry Potter brand bears lessons that are crucial to the entire marketing community and a few success factors may be tentatively distinguished as we dig deeper into the brand story. There is enough evidence to suggest that it defies some common marketing theories and takes a contrarian approach at times.
It is indeed a regal brand story, a magical brand story and a many sided brand story. The video below brings out the in-between-the-lines takeaways from the success of the brand.
There are significant signs that we are moving from an era of monolithic branding to polymorphic branding.
Polymorphism is common in nature; it is related to biodiversity, genetic variation and adaptation; it usually functions to retain variety of form in a population living in a varied environment. Polymorphism results from evolutionary processes, as does any aspect of a species. This biological explanation from wikipedia has an uncanny resemblance to the needs of the new age consumer driven markets and Harry Potter typifies the poster boy of that trend today.
Harry Potter typifies today’s amusement economic system. Maybe…Just maybe…we can take a few pointers from the Harry Potter brand story. Take it or leave it. It’s your choice.
If you want to make a name for your brand, this could well be the name of the game.