Would you take your product off the market?
Any business would give just about anything to build a loyal client base. In fact, many do give everything attempting just that. Unfortunately, due to poor marketing and advertising, business decisions or an inferior product, failure for many businesses is a reality. So if you were a small business fortunate enough to have a loyal client base, would you ever make the decision to take your product off the market?
There is a business at this very moment that has removed its product from the market even though they have millions of dollars in revenue, lucrative long-term contracts, profitable merchandising models and fanatical clients.
The National Hockey League is this business.
Normally, I don’t get much into sports topics, but as a fervent hockey fan, I am quite upset that the NHL and its players cannot come to an agreement to get the 2012 season underway. But that isn’t necessarily the reason I am writing on this topic. I am writing about this because if you look at the basics of business, the decision to fail to provide a product that is in such high demand is ludicrous and stupid. Right? Would any other business make this kind of decision? I don’t thinks so.
The NHL is a very successful league. In fact they are the third highest total attendance in the world behind Major League Baseball and Nippon (Japan) Professional Baseball. Out of the 32 NHL teams, 18 are averaging more than 99 percent of their capacity on a nightly basis!
Most businesses implement marketing and advertising strategies to attract customers and will do anything and everything to avoid making them angry, dissatisfied or frustrated with their product or service. They spend millions of dollars on their corporate identity that represents them in a positive way eliciting a favorable buying behavior from their customer base. Marketing and advertising agencies in Denver such as mine are also in the business of distinguishing and differentiating their clients in a flattering light. It would never cross my mind to advise one of my clients to not sell their products! Even an aggressive creative agency trying to create more buzz around a brand would never suggest this strategy either!
I know, I know. There is much more involved in the NHL lockout, but if you break it down to the basics, it’s a ludicrous strategy! Please NHL: fix the lockout, so fans like myself can attend overpriced games, drink ridiculously expensive beers and love every minute of it!
Adam OLeary, President, Encite Marketing