The answer lies in visibility and perception. Famous individuals have built a public persona, making them more visible and, consequently, more likely to attract opportunities. Similarly, companies that invest in marketing and brand visibility create the perception of value, which can attract more customers and business prospects. Without effective marketing, even the best products can go unnoticed.
Much like a famous person who garners opportunities simply because they are well-known, companies that market themselves effectively create awareness and demand, even if their product is not radically different from others. The competition in today’s market is not just about having a good product it’s about having the right visibility.”
Examples of profitable companies with strong marketing:
1. Nike – Nike has consistently demonstrated the power of marketing. The company invests heavily in celebrity endorsements, innovative campaigns, and emotional branding, which has propelled it to be one of the most recognizable and profitable brands in the world, even though the core product (shoes) is not uniquely different from competitors. Its marketing connects with consumers on an emotional level, making it a top choice for athletes and non-athletes alike.
2. Adidas – While Adidas also makes high-quality footwear and apparel, its success can largely be attributed to its marketing partnerships, like the one with Kanye West for the Yeezy line. Through strategic marketing, Adidas has captured a significant portion of the market, even as other brands make similar products.
Companies that fall behind despite having a good product:
1. New Balance – New Balance makes high-quality, comfortable shoes, but it often lags behind Nike and Adidas in terms of marketing visibility. Despite their solid reputation in sports and casual footwear, their marketing strategies are not as aggressive or widespread, which limits their brand’s reach.
2. Saucony – Another strong footwear brand with great products but comparatively weaker marketing efforts. While Saucony shoes are highly rated for their comfort and performance, they don’t have the same level of marketing investment or celebrity endorsement as Nike or Adidas, which affects their ability to compete in the same space.
In summary, just as famous people get more opportunities due to their visibility, companies that effectively market themselves can create opportunities and demand, even if their products are not drastically different from those of competitors.
