🧠 1 Marketing Framework:

Porter’s Five Forces

Porter’s Five Forces is a framework developed by Michael E. Porter to analyze the competitive environment of an industry.

It examines five key forces that affect a company’s ability to serve its customers and make a profit:

1. Threat of new entrants: The easier it is for new companies to enter the industry, the more cutthroat competition there will be.

2. Bargaining power of suppliers: If there are fewer suppliers or if they have unique products, they can charge more.

3. Bargaining power of customers: The fewer the customers, the more power they have to demand lower prices.

4. Threat of substitute products or services: Customers may switch to alternative products or services if substitutes are available.

5. Rivalry among existing competitors: If competition is fierce, companies may need to increase promotions, offer discounts, or accept lower profits.

For example: Apple often uses Porter’s Five Forces to maintain its competitive edge.

Apple faces threats from new entrants like Xiaomi and Huawei, which offer comparable technology at lower prices.

They manage supplier power through multi-source strategies, ensuring they are not dependent on a single component supplier.

Apple minimizes buyer power by maintaining a strong brand loyalty that allows them to command higher prices.

They deal with substitutes by innovating and differentiating their products effectively.

Lastly, they actively engage in competitive rivalry through marketing and an ecosystem of products and services that reinforce customer retention.

🧑‍🏫 2 Lessons From The Best Marketers:

Lesson #1: Sell Benefits Over Features by Ramit Sethi

One powerful marketing lesson from Ramit Sethi is the concept of selling benefits over features.

Sethi teaches that customers buy products for what they can do for them, not just for their features.

For example: Instead of marketing a drill for its high-speed rotation and durability, focus on the benefit: the drill enables you to easily make holes for hanging your family photos.

Lesson #2: Steve Jobs on the role of product and marketing people

📱 3 Ads That Will Blow Your Mind:

Ad #1: Don’t give up on your dreams. We started with DVDs

Principle used: Inspiration Through Transformation

This Netflix ad taps into the principle of transformation by reminding viewers of the brand’s humble beginnings as a DVD rental service.

The message: "Don’t give up on your dreams. We started with DVDs," encourages people to believe in growth and change.

This ad strengthens Netflix’s brand identity, aligning it with resilience, which resonates deeply with audiences aiming to achieve their own goals.

Ad #2: Should’ve gone to Specsavers

Principle used: Humor and Relatability

This ad from Specsavers uses humor to highlight the importance of clear vision.

The shattered glass, resembling the outline of a person who has accidentally crashed into it, suggests a lack of awareness that could have been avoided with proper eyewear.

The slogan, “Should’ve gone to Specsavers,” implies that wearing their glasses would prevent such mishaps.

Ad #3: Impossible Is Nothing by Adidas

Principle used: Exaggeration

This Ziploc ad uses exaggeration to emphasize the product’s ability to keep food fresh.

The image shows a person nearly frozen in an icy environment, yet the sandwich inside the Ziploc bag looks as fresh as ever.

This humorous and exaggerated scenario highlights Ziploc’s strength in preserving freshness, suggesting that no matter how extreme the conditions, Ziploc keeps food as good as new.