Posted in Marketing & Strategy Articles, Total Reads: 2618
, Published on 08 January 2014
“Where there is color, there is success”!
This apt adage rules the markets today. In our current state of evolution, vision is the primary source for all our experiences. Current marketing research has reported that approximately 80% of what we assimilate through the senses, is visual.
Although the olfactory sense was a human being’s most important source of input in the pre-historic era, sight became our most important means of survival. Furthermore, as hunters and gatherers in the early days of our evolution, we experienced a variety of colors and forms in the landscape. This has become part of our genetic code.
Image Courtesy: freedigitalphotos.net, dan
Research conducted by the Secretariat of the Seoul Color Expo documented the following relationships between color and marketing:
• 93% of the participants put the highest importance on visual factors when purchasing products.
• People make a subconscious judgment 90 seconds of viewing to about a product with 60% to 90% of the assessment based on color alone.
• 73% of purchasing decisions are made in store. Eye catching colors are important to successful sales.
• Brand recognition is improved 80% with color.
Like a picture is worth a thousand words, similarly, colors are worth a thousand emotions. Here is a sneak peak into how filling colors in the lives of customers has revolutionized the marketing style.
We live in an era where gadgets galore and occupy a special place in our day to day lives. We have a relationship of interdependence with gadgets and appliances. Because gadgets are a part of one’s identity, color of the gadget plays a significant role today. Such is the role played that the choice of color of gadgets expresses a person’s individuality. Companies use this as an important component of product mix to attract the customers. Recently, Apple launched the iPhone 5s in champagne color. In fact, stores across United States quickly ran out of the gold toned iPhone 5s after the model’s release, sparking off a frenzy that may well translate into rich pickings in the two markets Apple wants a bite of – China and India. And, it is no secret that two of the world’s hottest economies are gold crazy.
Moreover, Apple launched the cheaper version of the flagship phone, iPhone 5c in various scintillating colors – white, pink, yellow, blue and green. This is a major move by Apple to shift its focus from the usual colors of black and white.
Another such transition in the world of gadgets was when Sony launched the VAIO laptops in a variety of colors. The move took the markets by storm and changed the dynamics of the industry. There was one color for all and every color defined a personality type. The availability of Sony VAIO laptops in a variety of colours became USP of the product. Thus, the color also helps in making the brand memorable.
The headphones from Skullcandy are available in different themes which are very attractive and eye catching. This feature of availability of different colors in Skullcandy earphones sets it apart from all others.
Moving ahead to the automobile industry, the most important factor as per customers today is color, which expresses and defines them. Apart from the type (sedan, convertible, minivan, sports utility vehicle) and make of the car, the color of car helps in distinguishing one’s identity. Known as the “second most expensive purchase”, customers often hinge their final decision to purchase a certain vehicle based on their reaction or perception about the color. In fact, most car manufacturers today offer a widespread selection of colors, covering every shade of the color spectrum. Due to large advances in the automotive painting process, different types of coating such as clearcoat, metallic, and pearlcoat allow for more variations in color. In the recent times, many companies have launched their automobiles in various colors. One such company is Ford, which provides its customers with many color options. To begin with, Ford Ecosport is available in different hues and colours which helped in catching the fancy of potential customers like mars red, kinetic blue, chill metallic, etc. The color of car helps in drawing attention of not only the owner but also the masses. This further leads to prolonged interest in the possession.
Two wheeler automobiles are also available in different colors to attract the youth. For example, Scooty Pep+ offers various colors to choose from to its customers.
Mughal-e-Azam, a black and white Indian classic and often recognized as a milestone in Indian cinema. The idea of colouring Mughal-e-Azam originated when Umar Siddiqui, Managing Director of the Indian Academy of Arts and Animation (IAAA) met representatives of the Shapoorji Pallonji group in 2002. Shapoorji Pallonji himself supported the idea, regretful of being unable to complete the original film in colour. Thus, the film’s colour version was released theatrically on 12th November, 2004 in 150 prints across India. The movie became the first full length feature film in the history of world cinema to be colorised for a theatrical re-release (some Hollywood movies were colorised but only for release on home media). It was then selected for seven international film festivals. Upon release, the film had full shows at theatres with an overall occupancy of 90%. Subsequently, the fim completed a 25-week run at the theatres. In 2006, Mughal-e-Azam became only the fourth Indian film certified for showing in Pakistan since the 1965 ban on Indian cinema, being released in the country with a premiere in Lahore. The impact of colored version of the film was such that it put life into dead.
The excelling paints
With the entry of Asian Paints and Nerolac Paints in the paint industry, the whole concept of painting was revolutionized. With traditional approach of whites and yellows used for painting the walls, the concept was taken to greater heights with the introduction of reds, oranges, greens, blues, violets, etc. This transition made a mark in the industry. The colors help the house in shining out and lead to emotional attachment of one and all. In fact, the tagline of Nerolac Paints: “Jab ghar ki raunak badhani ho.. deewaron ko jab sajana ho..” aptly defines the ubiquitous presence of colors in our lives and how colors add meaning to our, otherwise dull and monotonous routine.
Newspapers in news
Financial Times, the newspaper, first published in 1888, tinted its pages in 1893 to distinguish itself from its rival, The Financial News, in what the Financial Times described as “a masterstroke which made it immediately distinguishable from its main competitor.” David Kynaston wrote in the book “The Financial Times, a Centenary History” that it grew progressively pinker over the years. But, color experts politely disagree about the actual color of The Financial Times. Leatrice Eisemen, Executive Director of the Pantone Color Institute, said The Financial Times is actually “bisque”. She said it was a wise choice because its shade is considered a “tactile color – one that invites touch” and “a warm, welcoming, nurturing color.” She added, “from a marketing perspective, the color is a great idea as it does catch the eye on the news stand”. Thus, color can also provide a competitive edge to the product.
The power of color
Recently a research conducted by Xerox Corporation and International Communications Research has shown that:
• 92% believe color presents an image of impressive quality.
• 90% feel color can assist in attracting new customers.
• 90% believe customers remember presentations and documents better when color is used.
• 83% believe color makes them appear more successful.
• 81% think color gives them a competitive edge.
• 76% believe that the use of color makes their business appear larger to clients.
There are only 3 colors, 10 digits, and 7 notes; it is upto us what we do with them. This is the mantra used by marketers these days to the path to success and glory.
This article has been authored by Agrim Verma And Anmol Verma from University Business School and Newgen Software Technologies Limited
Haughney, C. (2012). That Indescribable Pink of The Financial Times. The New York Times.
Rajghatta, C. (2013). Apple strikes gold with champagne-coloured iPhone. The Economic Times.
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