In Malcolm Gladwell's book 'The Tipping Point' he tries to explain how trends arise, from existing amongst just a few people to becoming social epidemics. The Law of the Few is the idea that a product or trend only has to become popular to 20% of people before it spreads, reaching a tipping point and reaching the masses. This means that New Balance only have to connect with 20% of people before their products will become a must have and their popularity will spread beyond control. Of course, these 20% have to be the right types of people. The key people for brands to aim their products at are connectors, mavens and salesmen as they have influence over their peers and are key in trendsetting. If New Balance target their marketing towards these types of people within their target market then it will increase brand awareness and credibility for them within the lifestyle market. Roger's Innovation Adoption Curve shows a similar idea, where aiming new ideas at the masses is pointless and won't work, whereas if they are aimed at innovators and early adopters (other types of trendsetter) the idea will take off and eventually gain popularity within the masses.
Saturday, 5 March 2011
The Tipping Point
In Malcolm Gladwell's book 'The Tipping Point' he tries to explain how trends arise, from existing amongst just a few people to becoming social epidemics. The Law of the Few is the idea that a product or trend only has to become popular to 20% of people before it spreads, reaching a tipping point and reaching the masses. This means that New Balance only have to connect with 20% of people before their products will become a must have and their popularity will spread beyond control. Of course, these 20% have to be the right types of people. The key people for brands to aim their products at are connectors, mavens and salesmen as they have influence over their peers and are key in trendsetting. If New Balance target their marketing towards these types of people within their target market then it will increase brand awareness and credibility for them within the lifestyle market. Roger's Innovation Adoption Curve shows a similar idea, where aiming new ideas at the masses is pointless and won't work, whereas if they are aimed at innovators and early adopters (other types of trendsetter) the idea will take off and eventually gain popularity within the masses.
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