I am sure most of us have read of Peter Pan in our childhood- A character created by famous Scottish novelist and playwright J. M. Barrie . In his novels Peter Pan has been depicted as a child which never grows to adulthood and has magical powers. So I thought of coining a term Peter Pan effect on sales growth.
We are all aware the capacity of word mouth of publicity, it is strongest way of publicity. Today’s consumer has the power of the Internet to comment at his or her wish to make or break a product lunch. If not satisfied he can leverage the power of the social networks such as facebook, linkedin or Bebo. He has power to comment on product review websites like Revoo or Cnet.
The power of the connection has a phenomenon which I call as “Peter Pan effect on Sales Growth”. What it essentially means to me as product become question marks and never become stars. The company looses the oppurtunity of tipping point of the sales to make the product as cash cows directly turning them to dogs. The product never grows to adulthood and company dream to get the cash out of the product remains pipe dream and remain like a castle in the air magically flying around.
In today’s world, enterprises can’t depend on paid reviews or depend on professional writers and pr firms to get the favorable ratings. They have to stake up in all the directions for competition, product quality, Marketing, PR and channel management.
Many of the marketeers are taking direct charge, they have set up active communities. They actively promote the product indirectly by promotions through user groups and control negative aspect by giving correct comments on the product aspects. If there are short comings in the products, they also take active feedback from such groups and move quickly to makes corrections.
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