There is No Luck. Only Good Marketing. | Franz Schrepf | TEDxAUCollege

There is No Luck. Only Good Marketing. | Franz Schrepf | TEDxAUCollege



before I came to Amsterdam to study Business and Economics I worked in a bank in my hometown Munich and I left his Bank for one particular reason because even though the people there earn sufficient amounts of money they all seemed dissatisfied with their life they were frustrated with their career opportunities they were unhappy with their relationships and they were constantly stressed out but these people they all had one thing in common they did not want to change it and even outside of the bank I kept on meeting people who were unhappy with their lives but unwilling to change them and every time these people saw somebody who had a great relationship who was happy with his job or who sees the great opportunity and was successful most people just said that this person was at the right time at the right spot and got lucky we all know it right however when you study marketing you realize pretty quickly that products are always at the right time at the right spot just ah wait take this cocaine for example ladies by the way I'm sorry to disappoint it was a cocaine in my pocket every time your first good times good times however every time you first see I can assure you 100% that there is a Coke vending machine just around the corner in fact there is one right in this corner of the room coke vending machine right there do you want a free cook nice and warm my friend so is coca-cola just distributing this vending machines at random and got lucky that people bought it or did they have a marketing department which actually thinks about it how to position them and how to reach out to the customers it's quite obvious right so at this point I started looking at my marketing book in a different way instead of learning for my exams or learning in order to help a company I started learning for myself I looked at I thought how can I learn from this what can I learn from these techniques and I came up with an idea worth spreading now I need a one year I'm gonna present some theories now and if you're expecting life-changing knowledge from these Furies I'm sorry to let you down but if you're guessing that these theories are like empty jars you need to fill with your own knowledge and your own insight you're an outstanding guesser so if you study marketing you're not a stranger to this for blocks they call the four PS and four C's of marketing then a foundation of every product lunch no product enters the market without filling these four blocks and tonight we're going to launch you so the first one is the product in the customer needs the product are you yourself and all the capabilities you have and the customer needs are the needs of the people you need for your success and your product has to match these needs however customer needs are something really tricky because your stated need tonight for example for this TEDx event is that you want to be inspired and entertained by great speakers but then there's something else does your unstated secret need and tonight I guess this unstated secret need is that you want to go home afterwards show your friends this videos and brag about how sophisticated you are for attending such an event now these uncertainties are really hard to find and if you find the secret needs you can be sure that you have a massive competitive advantage but I can tell you what they are you have to find it yourself and the only advice I can give you on this is never ever ever try googling them there are secret needs you don't want to know about now your product has to meet the customers needs and most of the time when you do it for the first time you will realize that it doesn't but don't be sad about it because the process is called R&D which stands for research and development and not research and depression even though you realize that your product doesn't meet the customer needs you can still develop it's never too late for personal development my grandpa is 83 years old and he's learning English right now just so he can watch this video what's your Excuse now who in this room ever wanted to be a rockstar or famous DJ that's quite a lot right and why shouldn't you if somebody would come up with a contract and won't me ask me you want to sign up to be a rockstar I would take it immediately all the fame and fortune fast cars giving concerts in front of 100,000 people that would be great but that's just half of the story because who in this audience actually is a rockstar and the reason why so many people fail to become a rockstar it's the same reason why I never became one because when I started playing guitar at the age of 16 this man was my idol his name is John Butler here at his own TED talk in Sydney and he started playing at the age of 16 as well now how did John Butler become an outstanding guitar player and I didn't it's because he dedicated himself to it well played once or twice a week he played every free minute well I was too shy to play in front of people he went out busking in the streets and while I played it safe and went to university he quit University just to pursue a career in music now I'm not trying to inspire anybody to quit the university right away and just go out busking in the streets but next time you see somebody successful ask yourself what are his costs because this didn't come for free there must be some costs behind it and then ask yourselves would you be willing to pay it because when people are told about the countless hours of practice the endurance needed and the risks involved in becoming a rock star most of them don't want to do it anymore but if it still sounds tempting to you you should go for it now after figuring out your product your customer needs your price your costs it's time to think about how to let people know you're out there because life is just basically like a big supermarket in a big supermarket people are exposed to 300 products per minute and this little girl could be your customer she could be anybody your future boss or even your wife and all these products around her okay I know you for 20 years but all these products around her are potential future husbands just like you how should she know for which one to stop take it out of the shelf and put it in a shopping cart we have a product we have a concept for this as well it's called Aida and it has nothing to do with this boat company Aida stands for attention interest desire and action so the first thing you need to do is you need to grab the customers attention you can do that with anything it could be a smile when you're enter into the room it could be a nice hat a flashy outfit or you can simply stand on the red carpet on the stage right in front of them once you grab the attention you need to create an interest within them so that happens by displaying the attributes you thought about which they want and because you thought about it this attributes create create a desire in them because their ex you're exactly what they need and that ultimately leads to the action part it sounds a bit weird when talking about dating may be better with products but it's really essential because in the market as well as in life it's not the product which is the best which gets sold the most but it's the best promoted product which gets sold the most and now you can go for all these steps and still fail simply because people don't know where to buy you they don't know where to find you this applies to every single life situation but in my case I just really like the dating example so we're going say with that so when I was 16 in Germany that's the age when you're allowed to go out drinking so I went to nightclubs with my friend also because we thought that is the prime ik place to meet women now were we successful at meeting women at nightclubs no were they even a realistic chance for us to meet women at nightclubs not at all why not only because of this this could have worked it's because an average German nightclub there's 80% men and 20% women there's a massive oversupply of men which leads to greater competition less success now I still manage to solve this problem I wish I could tell you oh yeah i enhance my product and I went out into them or not that's not what happened what happened was that I simply positioned myself differently to be honest my mother positioned me differently because she signed me up for standard dancing lessons that was the reaction of my friends as well but after one hour of standard dancing I was not even mad anymore because from an economic perspective that was amazing there was a room full of women such an oversupply such a high demand for a guy like me so little men so a little supply it was like a supermarket with more customers and products that was great I went overnight from being a free in the club to a 9:00 at dancing or maybe a 7 but still improvement so what we can learn from this is that sometimes you need to consider all the options because sometimes the place which is the most obvious to meet your customers is not the place where they need you the most and after filling out all these four boxes there's one major question left for tonight why do people when we can analyze our situation and position us in the market would attribute sex they why would they attribute success solely to luck and the answer for is this we tell ourselves that other people are lucky for the same reason we take a pill when we have a weight problem or we drug our children when you're hyperactive we have a problem and we're looking for a solution and this one is easy it's fast and it's effortless but it's also a dead-end because rather than tackling the root of our set as dissatisfaction the cause of our problems we just swallow a lock pill and number selves to all the symptoms but will this luck pill we also number selves to all the great opportunities this world has to offer and we constrain ourselves in developing our personal best I was at this point when I was in the bank I was just as dissatisfied as all my colleagues but I didn't swallow the luck pill what I would in was I analyzed what am I good at I positioned myself differently I moved to answer then to enhance my product I met so many great people and got inspired as well as inspired others and within this one and a half years I'm here now I went from being this poor sad little man in a bank who was wearing a suit all day to presenting on a TEDx stage my personal dream so the next time you feel is dissatisfied as people in my bank you're unhappy with your relationships you don't like where your life is going or you simply feel like your life could be so much better you have two options you can either swallow the lock pill and go on with business as usual or it can analyze your situation take action and truly change the game thank you

40 thoughts on “There is No Luck. Only Good Marketing. | Franz Schrepf | TEDxAUCollege

  1. What inappropriate humor. I'm surprised the TED organization allowed this one through. You can Google the four P's of marketing and get more info without having to listen to this guy speak like a 15-year-old.

  2. Thought provoking and hugely entertaining! This is not an average boring speaker. The main message I got from this talk is: the best selling product is not necessarily the best product out there, it is just THE BEST PROMOTED PRODUCT. If you don't promote yourself or your product, how people can find you? You can have the best product in your niche, but if people can't find you…you lose. Make sure your product fulfills the particular need and put your product in front of people who need it. Help people find your product.

  3. He made a 180 degree turn at the end of the lecture. He was talking about marketing but then just flipped the talk to motivation. Would have preferred if he stayed focused on marketing, but all in all good talk.

Leave a Reply

Your email address will not be published. Required fields are marked *