Welcome to S2 Marketing and S2 here will refer to small marketing. And they will be the second of seven s' that I will talk about in innovation and international marketing. So here I will talk about what is small marketing? I'll give you some key examples. Then as I've done in other segments, I'll give you the Cross Country Implications as well as the Cross Industry Implications. So let's get started. Okay, what is small marketing? Well, small can mean a lot of different things. It could be about small products but actually here it's about marketing for or to small markets. And I'll give you some examples in a bit. But it can also mean marketing by small firms and it could also mean targeting presently unpopular but potentially popular markets in the future. Okay, some examples. Especially from an international marketing standpoint, we have these so called smallish countries like Belgium and Ghana and Singapore and Chile. And I was even tempted thing include Korea, which I don't think is no longer considered a small market by any means. Anyway, so they each represent different regions in the world. And even though they're small, they're influential. What happens in Belgium, what happens in Ghana. Certainly what happens in Singapore can impact neighboring countries. So these are small but if targeted well, the diffusion of your product can be much broader. It can be about small companies like Delo and they specialize in adhesives. So even though their annual sales isn't huge as multinational corporation. Nonetheless, they are very specialized and they dominate many sectors such as in electronics and photovoltaics and so on. So they are what Hermann Simon from Germany called Hidden Champions and there are many to speak of in many countries. And as for small, potentially important markets, I think a good example might be Small Olympic categories. So you have big categories that we all know off, but we have smaller, less popular categories. But if you sponsor them well and this is what Samsung has done in countries like India. So instead of sponsoring big categories like football and so on, they sponsored Abhinav Bindra. And fortunately for them, he later won a gold medal in the Beijing Olympics. So the positive results from that very small investment was actually ultimately quite huge. So, if you target well, again, potentially if that sport becomes very popular later, the return on your investment can be quite big. Okay, so as for the cross country implications when we're going from Country 1 to Country 2 in that same industry, that industry being sports. We have to again, assess whether that small country or excuse me, that small market is considered small elsewhere. It might be smaller, but in some cases it might be actually quite big. So for large population countries like China, like India, 5% of the market could still mean tens and millions of people. So that's small market that you specialized in, in Country 1, can turn out to be actually a very large market in another global market. Also we have to think about especially if your market is too small, smaller than in your own home country. Then we have to start instead of segmenting, we have to start aggregating and make it more scalable across the region. And that's why the first country, the countries that I've mentioned before like Belgium and Singapore. May be very important in establishing that first foothold, that first stepping stone. From which you can expand to other similar countries. So even though they started out being small individually, collectively they can be actually quite large. Okay, as for the cross industry implications, we have to think about how other industries, like industry B became bigger. So we can analyze how they used lead users and through them made their markets bigger. We can also think about how they reframed the popularity of their industry. If it was considered unpopular before, how did they then become very popular, so a good example of that might be movies. And I think all of you know by now that I make movies myself, I make short films and so short films are usually less popular. But even among commercial movies, you have so-called sleeper movies. But sleeper movies ultimately sometimes become very popular, almost blockbuster-like in terms of their popularity. And oftentimes it's because of positive reviews by key reviewers, it could be through social media. So again, if you analyze how other industries have become more popular and also the technologies involved. This is how you can benchmark how you too, even as a small market can become bigger. So let's see an example and talk about the Indian Premier League also know as the IPL. And so they benchmarked all these different other sports, other industries even. So, in terms of other sports of course, the EPL, the English Premier League. So even though the IPL sounds like EPL. And one key thing about EPL is that they're not just played by English players. If anything, the stars come from abroad, that's what I think the IPL did as well. So they imported and they made it possible because it's a very short season. All these cricket stars from England, from South Africa and so on. So that's a model that they copied from the EPL, they made it very Bollywood like. And it also helped that some of their owners are actually Bollywood stars themselves. People like ShadoCon, and they also imported cheerleading practices such as from American Football. So football here refers to football and not soccer. Okay, so what are the takeaways from this segment? As we learned small can be small in many different ways, so it can refer to many different types of small marketing. Small can be actually very profitable if done well. Small as we learned can become bigger at some future point. And small can be very innovative. So we have to outsource how small marketing can be more innovative from outside the industry.
