Planet Money
Summer School 4: Marketing and the Ultimate Hose Nozzle
Aug 2, 2023
Barbara Kahn, a marketing guru from Wharton, joins reporter Stacey Vanek-Smith to explore the intriguing world of marketing and luxury branding. They break down the essentials of crafting persuasive pitches and effective marketing strategies. The discussion includes the allure of the Birkin bag, revealing how exclusivity shapes consumer desire. With anecdotes from real marketers and insights on the psychological tactics behind luxury goods, this conversation uncovers the fine line between necessity and desire in marketing.
32:54
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Quick takeaways
- Marketing is about providing value and creating desires for products.
- Creating a strong brand narrative and customer experience can foster loyalty and enhance long-term customer value.
Deep dives
The Basics of Sales and Marketing
Marketing is about giving customers something of value and creating desires for products. It is important to focus on customer value and offer something that creates value for the customer. Marketing is not just about selling a product, but also about creating a brand and a customer experience that adds value.
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