Perception is reality- in marketing

arrogance, Customers, ego, Marketing, Product Management

I was watching Shark Tank a little while back . There was this young lady who came with a business model which she called as an Ed-Fintech model and she started rattling some numbers from different global agencies on why they are in such a good space. They had not even started on revenue.

What happened – young person, giving “gyaan” with no revenue – suddenly with every statement that she made, most of the “sharks” pounced on her.

Problem perception- those sitting on the other side of the table thought she was acting as a “know-it-all”. They felt she was arrogant and that hurt some egos. No one ended making her an offer. From her perspective maybe she was just being confident with the research that she had done. Net outcome no investment

I remember about 25 years back there was a Korean company called Daewoo which entered India and launched a sedan. It was an extremely well engineered car which the Indian market had not seen till then. Now some of the early users of the car did not understand the way the fuel gauge was calibrated and they got the impression that it its a fuel guzzling car.

That perception got created with some users but the competition took advantage of that and blew it out of proportion. Eventually the car was a huge looser and whatever forecasts were made went south.

As a product manager or a marketing manager you have to keep an eye on the perception that is getting created and handle it, because once its made, it is not easy to brush off and it becomes reality.

Till next time then.

Carpe Diem!!!