Product, Price, Place and Promotion – lessons for the entrepreneur from a virtuoso violinist

What happens when you take a £3m violin, a virtuoso violinist and a platform for them to perform?

Well, the answer is – it all depends.  If the platform is the mass transport system of Washington DC or the Concert Hall with tickets going at $100 and more.

At least two lessons to reflect on here:

The first is pretty prosaic and pertains to that classic of the 4 Ps of Marketing: Product, Price, Place and Promotion. You have to get all four right.  A brilliant product is nowhere near enough.

The second is more metaphysical and probably best captured by Weingarten:

 “If we can’t take the time out of our lives to stay a moment and listen to one of the best musicians on Earth play some of the best music ever written; if the surge of modern life so overpowers us that we are deaf and blind to something like that — then what else are we missing?”

Comments

  1. Very interesting that mike.

    PRODUCT – Was right.

    PRICE – Free, could be right, for some, could be too little for others, but cant be wrong.

    PLACE – Why not a train platform. lots of people rushing, but lots of people waiting too.

    PROMOTION – Or context. Had there been some context, any context, just the info from the top of the blog would do, on a black board at the entrance and the platform, and it could have been very different.:

    “What happens when you take a £3m violin, a virtuoso violinist and a platform for them to perform?”

    • But looking at the second more metaphysical point we have to learn to find our own contect – to create a context for ourselves which allows us to recognise beauty when we pass it by…

  2. In terms of context/promotion; If we took a sample of 100 commuters from the 000’s who passed, I wonder how many of them would be wearing headphones and therefore would need to be omitted from the experiment?

    Price; I wonder how many of those commuters worked for employers who would deduct wages if they were late for work by missing the train?

    Although I’m not one, I doubt very much that all commuter are philistines as seems to be one argument here.

    • Not the argument at all Nigel. Follow the link through to the Weingarten post for some really interesting analysis on what might be happening here at both a practical and psychological level, where he explores the ‘commuters are philistines’ argument. In fact they chose the station specifically to get a high proportion of sophisticated passers by.
      The percentage wearing ear buds is no doubt high…and is one factor why position is about more than footfall.
      He also alludes to the point that we may be cutting ourselves off from all sorts of experiences, including beautiful ones as we trap ourselves in our own bubbles of managed experience.
      I thoroughly recommend the Weingarten piece….

      • Hi Mike,

        I have read the article. However, to build a story around one experiment, at a point in time, one, when you could be reasonably confident of certain ‘outcomes falling into place,’ is more journalistic than sociological.

        So, in terms of ‘bubbles of managed experience,’ I just think we need to be careful about the how the evidence has been assembled (managed).

        I should pop up to Leeds (high proportion of sophisticated passers by) and we could play the violin at different points of the day and days of the week.

        If we get the same results, then the story has real (and unfortunate) lessons to be learned.

        Best

        Nigel

Speak Your Mind

*

Follow

Get every new post delivered to your Inbox

Join other followers: