Purple Goldfish Video Podcast Episode 37

Posted by Stan Phelps on June 6, 2011

0 comments | 899 reads

Jack and I sit down to discuss:

the difference between a market economy and a gift economy
review the post, “Marketing Lagniappe – Powered by the Gift Economy”
explore the concepts of ’surplus’ and ‘reciprocity’
the idea of layering gift economy principles on top of market economy transactions
preview the next vodcast which discusses a tremendous lagniappe economy example: Izzy’s

Click here to subscribe to the Podcast in iTunes

Today’s Lagniappe (a little something extra) - A gift economy is opposite of a market economy. In a market economy there is an exact exchange of values (quid pro quo). It is my theory that there is a hybrid called the lagniappe economy that can sit between the two:

Lagniappe defined: A marketing lagniappe, i.e. purple goldfish, is any time a business goes above and beyond to provide a ‘little something extra’. It’s that unexpected surprise that’s thrown in for good measure.

How do you stand out in the sea of sameness? How do you win repeat customers and influence word of mouth? What’s Your Purple Goldfish?

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Stan Phelps

Stan Phelps is Chief Solutions Officer at Synergy Events. Synergy is an award winning experiential marketing agency specializing in the creation of signature brand experiences. Stan believes the 'longest and hardest nine inches' in marketing is the distance between the brain and the heart of your customer. He is fascinated by the concept of lagniappe and is the author of 'What's Your Purple Goldfish? How to Win Customers and Influence Word of Mouth'

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