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Learning marketing from drug dealers

I was watching an interesting video of John Moore from Brand Autopsy. Here’s something I learnt through him that we can learn from drug dealers.

Even drug dealers have a business – an illegitimate one but none the less, a business. Even they acquire new clients and try and sell more to existing clients.

Drug dealers make money through large profit margins – fewest transactions for the highest amount of $$.

Marketers should aim to achieve the same (by selling legitimate products or services) and “find a sweet spot” where we can sell for maximum price with minimum transactions. It’s better than low price and high volume transactions. You could even be making a loss at low priced transactions. Of course, other factors such as competition, value, price elasticity etc… are to be considered.

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2 Responses to “Learning marketing from drug dealers”

  1. ericjsales

    Very interesting….Makes you think about the making a quick buck online. The quality of the sale is what counts not the quantity of sales !

    Reply

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