By John Malmo
http://stream.publicbroadcasting.net/production/mp3/wkno/local-wkno-985007.mp3
John Malmo: Old Product, New Position
Memphis, TN – Aspirin was invented 114 years ago. Powdered aspirin has been around for decades. So how could a 29 year-old Denver entrepreneur put powdered aspirin in a packet, and make it a success in ninety days?
Simple: he re-named it, and he re-positioned it. He named it Urgent Rx. And he positioned it as the emergency action for heart attacks. Most people already knew that aspirin can help a victim survive a heart attack, and everyone knows that powdered aspirin works faster than a tablet.
But Jordan Eisenberg was the first to brand and position the product singly for heart attack victims. So he sold 12,000 units to American Airlines for all of its 900 airplanes. And he's gained distribution in several significant retail chains. And the product is only six months old.
A major element in branding is making it clear to potential users exactly why they need this product. Stanback, Goody's, and other powdered, mostly-aspirin products have been here for decades, but they have not been positioned for heart attacks. It's not unlikely that, within two or three years, Urgent Rx will find itself in most home medicine cabinets, first aid kits everywhere, and travelers' toilet kits.
114 year-old product. Just a new name and a new position.
John Malmo is a marketing consultant who concentrates on helping business owners grow their businesses with effective marketing. To reach Mr. Malmo, hear and read more of his commentaries, or ask him a direct question, go to AskMalmo.com.
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