Of Sex Toys and Marketing

In economics, the law of supply and demand explains their relationship to each other and how supply meets the demand, and what happens if there is a disruption on either side. Marketing too is involved closely in both of these driving forces of the economy.

Of course, it is the chicken or the egg question, but we assume that supply exists because of the demand. The supply side simply meets the needs of those who demand. Therefore, we can say demand is rather primary. But could the supply come before the demand?

Well, why not? I mean, who could have thought that there would be a demand for sex toys? The answer is rather simple; tapping into areas where you see a subtle demand - not always as kinky as sex toys- and providing goods and services according to those needs to ensure you meet the demand. In a way, you create the demand by offering something new. In other words, you see a potential for what might be in demand and you supply your products and services according to that. Some might call it innovation.

Sometimes the demand may not be so obviously out there for businesses. When you think about it, sex toys seem to be an easy guess nowadays as we all know that sex sells. Today, it's a billion-dollar industry, and the taboo surrounding these handy items lessened, though still a delicate topic to discuss in public. But it wasn't always the case.

Sex toys, believe it or not, have a very long history. Almost as long as humanity's. If you are interested in knowing more… Their public acceptance changed from society to society and from era to era. From ancient Greece to Japan, through old civilisations to the industrial years of the 19th century, they have been around for long. Here's what they looked like.

First examples of vibrators were believed to cure hysteria which was considered back then to be a psychological disorder in women. There is even a fun movie about it.

Back in early 20th century, vibrators were giant machines and far away from being products available to the masses. But in time an opportunity had been noticed and seized..

What does that have to do with Marketing?

Marketing may not exactly be called a science but surely a multifaceted discipline that is involved in the journey of introducing brands (products) in the market and maintaining healthy growth. So marketing is, directly and indirectly, related to both supply and demand respectively.

A successful marketing strategy is about finding the needs/demands -or the potential that's out there- and to supply products and services to meet those needs of consumers. Knowing that marketing is holistic planning of key components of the business, it is indispensable to associate marketing with creating demand through product and service designs, pricing plans, promotional strategies, and distribution of products and services.

Companies should seek to improve all business activities to offer the best possible experiences to customers in their niche market. And, even the smallest innovative approach in one of these areas can make a significant impact on customer satisfaction whether you can come up with a new product with better features or extend benefits of existing services.

Are there any contemporary examples? Absolutely! Airbnb saw the increasing travel needs of globe-trotting citizens and catered to our accommodation needs to find decent and relatively cheaper places to stay. Uber solved the expensive commute problem by saving us money and time while ensuring we travel comfortably. Netflix… Well, it did a lot more but let’s just say it organised the entertainment mess under one banner.

These are some modern-day stories of how companies grabbed the opportunity as they sensed the demand and then catered for customer needs. This is the kind of business mindset that will carry your organisation to the next level; finding the hidden demand, then targeting and catering to those needs.

Get in touch with me for marketing consultancy help to determine the possibilities and tap into the needs niche.