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SL Business Marketing

Isablan Neva
Mystic
Join date: 27 Nov 2004
Posts: 2,907
10-13-2007 09:23
Ok here is the required question: how many people who run businesses in SL actually take the time to study marketing?

Now that I've played by the rules :D

I ran across this blog during my morning stroll around the intarwebs and thought it was fascinating. I'll be incorporating some of these ideas into my marketing:

http://www.neurosciencemarketing.com/blog/
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Arikinui Adria
Elucidated Deviant
Join date: 18 Aug 2006
Posts: 592
10-13-2007 10:04
Nice article.

To answer the obligatory question: I studied general marketing and worked on a research project with a social psychologist and a cognitive psychologist regarding marketing/image strategies and how they can enhance consumer purchases (a lot of anthropologists are being hired by corporations in order to assist with marketing decisions....I'd say 1/4 of the cultural anthropologists I know from my college days have been recruited to do this).

Fascinating stuff.

As an SL business owner, I am always trying to improve on the marketing of my store, and I think it's a absolute necessity to at least understand marketing basics.

Isablan, you certainly find the most interesting articles!

~Ari
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Alan Bamboo
summer
Join date: 8 Oct 2006
Posts: 161
How would you target a tightwad in SL ???
10-13-2007 10:58
Spendthrifts and tightwads.............I guess we all tend to lean towards one or the other.

How would you target a tightwad in SL ???

I was always amazed when I used to sell land, what would sell and what wouldn't.

In SL i would consider myself more of a tightwad, hence the reason I got out of the land business in late Spring completely.


In RL when I'm shopping with a cart, say for groceries, Walmart, whatever, when I'm done, before I checkout, I always make myself put a few things back on the shelf, or switch to a cheaper product. I don't really need $8 shampoo,,,,,,,,,,the $4 dollar one works just the same or put back that can of air freshner,,,,,,,,say to myself,,,,,,,,waste of money and it's a pollutant. Eliminates any impulse buying tendencies and dumb purchases.
Isablan Neva
Mystic
Join date: 27 Nov 2004
Posts: 2,907
10-13-2007 11:26
I found two of the articles in particular (aside from the concepts of tightwads vs. spendthrifts) interesting.

The entry about wine and how opinion changes based on where customers are told it is from was a fascinating look at branding.

http://www.neurosciencemarketing.com/blog/articles/small-details.htm


Also, the article on Halo 3 makes me hope that LL read that study when it was published in Wired.

http://www.neurosciencemarketing.com/blog/articles/halo-3-brain.htm


Money Quote (emphasis mine):

From: someone
All this work makes a lot of sense - many games never catch on because of playability flaws, and Halo 3 has to be near-perfect if it’s going to vault the Xbox 360 past the Sony PlayStation 3 and the Nintendo Wii. In poorly designed games, players get lost in a maze of corridors and end up wandering randomly looking for an exit, or get killed so quickly at some point that they can’t even determine a strategy to progress. A little challenge is a good thing in playing a game; if a novice player could complete the game in one sitting, it would be far too boring. The trick is to keep the player engaged so that he keeps coming back for more. The best games are truly addictive - hours slip by during gameplay, and if a player is killed he immediately resumes play with renewed energy and improved strategy.
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Oryx Tempel
Registered User
Join date: 8 Nov 2006
Posts: 7,663
10-13-2007 12:05
Interesting articles! I've been wondering about some of this stuff recently as well. I think I'm definitely going to start doing research into more effective marketing. Thanks, Isablan!
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ArchTx Edo
Mystic/Artist/Architect
Join date: 13 Feb 2005
Posts: 1,993
10-13-2007 12:07
Those are very interesting artcles, I only read a few but picked up some good ideas. I will be back to read more. Thanks for sharing them.
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Alan Bamboo
summer
Join date: 8 Oct 2006
Posts: 161
10-13-2007 14:55
I don't have any idea really how to market in a virtual world, I'm guessing nobody does???

secondlife.reuters.com/stories/2007/10/11/companies-shifting-virtual-world-strategies

I think someone will make a big new innovative splash somehow.

I know RL marketing is having a lot of problems because almost none of us watch TV commercials, we try to skip internet ads as soon as we can. Seems to be viral advertising the next thing ??? Dove does it really well.
Cristalle Karami
Lady of the House
Join date: 4 Dec 2006
Posts: 6,222
10-13-2007 20:41
Interesting article. And when you read the companion article about selling to tightwads, it's equally fascinating. In light of the VAT controversy, I found this part to be spooky:

From: someone
3. Create product bundles. This is closely related to the previous point. One effect of package pricing is to disguise individual pain points, as has been noted by neuroeconomics expert George Loewenstein. One example he cites is the bundling of car accessories, like leather seats, power features, and so on into a single “luxury package.” This avoids the multiple pain points of selecting separately priced items, and also disguises the individual prices. If the packaged items were sold individually, the consumer would have to make a specific decision on whether leather seats were worth an extra $1,000, a power moonroof $900 more, and so on. Even though the package may cost as much as, or even more than, the individual components priced separately, there’s less buying pain involved.


VAT is a prime example. Europeans are not used to dissociating the product price from the amount attributable to VAT - they have had the pain point of the tax hidden in the price. Explains all the wailing today about paying VAT.
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