Marketing Strategy: The Granfalloon Technique

Strand8_Performance Objective

Marketing Strategy: The Granfalloon Technique
keith.lue@nebo.edu, Springville High School

Marketing is about creating and promoting value.  American Express once said that “membership has its privileges.”  Think of a group or social network that implies membership has some perceived value.  Is it true? If so, what evidence do you have that would back their claims? Or, is it a “granfalloon” as created by Kurt Vonnegut in his 1963 novel Cat's Cradle.  Vonnegut defined a granfalloon as a group of people who have a shared identity, but whose association is meaningless?

Assignment: Using the marketing mix, draft a 4-P’s framework (product, price, promotion, place)  for a group or community of your choice. Consider incorporating the “granfalloon technique” in your marketing strategy.  What is your value proposition on a functional and emotional level?

Lake, L. (2018, December 03). What a Marketing Mix Is and Why It Is Important to Your Business. Retrieved June 13, 2019, from https://www.thebalancesmb.com/what-is-a-marketing-mix-2295520 Links to an external site.

Granfalloon. (2019, May 25). Retrieved June 13, 2019, from https://en.wikipedia.org/wiki/Granfalloon Links to an external site.