I attempted a different format. Do check the slideshow below.
Monday, June 30, 2008 by Arvind Iyer
I attempted a different format. Do check the slideshow below.
Labels: opinion, retail, sales 0 comments
Tuesday, May 27, 2008 by Arvind Iyer
Chetan Bhagat recently (8th May) launched his third book titled 'The 3 Mistakes of My Life'. Is it a success ? If sales are your primary criteria, then yes! His first two books 'Five Point Someone' and 'One Night @ the Call Centre' sold over 7 lakh copies. While this book sold two lakh copies in the first two days of the launch! [Source]
What we'll attempt to do in this post is break down this success into parts, so that it makes sense.
The Book
Remember, this is the 3rd book by Chetan Bhagat (CB). So the story is spelt out quite differently for the launch. Expectations for the new book are defined by the previous experiences with the author, which have been quite encouraging for readers. There have been others who tried to emulate his success - like Joker in the Pack. These have not succeeded. In fact, it was a pain to unearth their book titles. They just didn't deliver.
Of course book number 3 can't purely ride on the success of the previous books or the hype associated with the launch. Yash Raj's movie Tashan provides an excellent analogy for "Overpromise and Underdeliver." The reviews for the movie (online and WOM) were so vile that it sank within 3 weeks. The hype won't ever be a substitute for the book.
The reviews for the book over the last 2 weeks have been satisfactory. Given the positive vibes for this release, sales should match or exceed that of the previous books.
CB will be conquering the 'Pop Curve' - which Seth Godin depicts in this graph above. The curve to the right caters to a bigger market - the people who don't want to try things too edgy or focussed - a wide set of customers who want to read books that are good (not necessarily great) and don't really want to get into make specific choices (jargon: dissonance reducing behaviour). John Grisham is another example of an author riding the right curve, while Jhumpa Lahiri would definitely be on the left.
(On a different note, I find the music business in India to be focusing solely on the right curve. There aren't any niche artists at all.)
The Author
Chetan Bhagat has a cheerful and chubby face. Seriously - you don't expect an IITian to look this smart. In fact, when I googled IITian, one of the first pictures turned out to be of another IIT-IIMA guy. This one is more stereotypical and realistic!
Labels: bigbazaar, book, chetanbhagat, retail, review 0 comments