Interesting thought

[shakeel]

Hello all,
I got asked for some help with a high school student's marketing homework today. The assignment was how to sell a rolex to a homeless person, and of course I got curious about what you guys would come up with! Look forward to hearing your opinions and ideas!

[brkanand]

Are you selling fake watches?

[Speed]

Is this for real?

[shakeel]

No i would never do that. Im trying to get your ideas on how you would do this. It has to be a real rolex. The purpose of the assignment is to prove your marketing skills. What I said was sell it to him by offering a financing plan and telling him that it will have a high resale value and will maintain its value. What made you come to the conclusion that i am selling fakes?

[Chewbacca]

i'm calling BS on this thread question.

[brkanand]

Oh..I missed that..! Looks to me the potential buyer is homeless but is wealthy! Some of us with steady jobs still do not own a house. So technically I am homeless with a handful of Rolexes!

Ok ...Go ahead and sell him your Rolex.

[shakeel]

100% guys im not trying to sell fakes!
Its a real homework assignment some of the other ones that were given to other students were selling life insurance to a 5 year old, a lawn mower to people in an apartment, a porsche to a couple with a baby and ice to an eskimo

[brkanand]

Originally Posted by shakeel

100% guys im not trying to sell fakes!
Its a real homework assignment some of the other ones that were given to other students were selling life insurance to a 5 year old, a lawn mower to people in an apartment, a porsche to a couple with a baby and ice to an eskimo

Let us take Shakeel's assignment seriously. Any MBAs/CEOs here with some interesting inputs?

[shakeel]

Thanks and for the record im totally serious and 1000% against fakes

[superdog]

I think this is interesting and does seen valid. It's about selling the impossible sell and how it should be marketed.

I shall think on this and return.

[ftgokie]

Does the OP realize that 99% of every homeless person has no income and no money or if they do have money, its very little. It would take a homeless person (that is legitimately homless) 20 years to pay off a Rolex....

This is aboslutely the most stupid thing I have ever heard of. You would stand a better chance of selling pornography to a preacher!

[Speed]

Since a high school student asked you...what are your ideas?

[shakeel]

Originally Posted by ftgokie

Does the OP realize that 99% of every homeless person has no income and no money or if they do have money, its very little. It would take a homeless person (that is legitimately homless) 20 years to pay off a Rolex....

This is aboslutely the most stupid thing I have ever heard of. You would stand a better chance of selling pornography to a preacher!

That is the exact point of the assignment, to market in impossible situations.
Its not supposed to be real its supposed to challenge how you would market it!!
Obviously a homeless person wouldnt buy a rolex but this is to just to measure the ability of persuasion the seller has!!

[FeelingTheBlues]

Originally Posted by ftgokie

Does the OP realize

With all due respect, do you realize he is asking this as it is one of his aquaintances' homework? It isn't a question he came up with and I personally see it more like an absurd/funny way of saying "show us how good of a seller you are".

Shakeel, although I have no knowledge in marketing whatsoever I'd probably write about buying watches as an investment. Given that the buyer in this scenario obviously needs money I'd tell him to buy it because he surely will be able to sell it back and make profit out of the deal. I don't know if I'm over thinking it or if I'm just a terrible seller but that's the first thing that came to my mind.

Originally Posted by Foxer55

This is a trick question from the Obama White House about how to make sure homeless people have Rolex watches. If the brand can be watered down the 1% (you) won't have as much money.

Not to spoil your fun but the OP is from Canada and last time I checked it wasn't a state. Besides, I must admit I don't see what this has to do with the question anyway...

[shakeel]

Originally Posted by Speed

Since a high school student asked you...what are your ideas?

The only idea I could come up with is to sell it to the homeless person as if the rolex was an investment (obviously its not a great one) and convincing the homeless person that it could potentially go up in value and the resale is good depending on the model so it could act as a bank in someway. Clearly not the best idea which is way I came to you all

[77T]

I am a bit surprised and chagrined that some members have chosen to assail the OP.

This question is very typical in marketing classwork. In my era it was "How would you sell refrigerators to Eskimos?". Later it was, "How would you sell an ashtray to a non-smoker?"

Perfectly valid question.

To the OP, have your student research Zig Ziglar. There is a technique to do the seemingly impossible deal in 3 questions.

[FeelingTheBlues]

Originally Posted by shakeel

The only idea I could come up with is to sell it to the homeless person as if the rolex was an investment (obviously its not a great one) and convincing the homeless person that it could potentially go up in value and the resale is good depending on the model so it could act as a bank in someway. Clearly not the best idea which is way I came to you all

Well it has to be the best idea, it's the one I had...

Originally Posted by 77T

I am a bit surprised and chagrined that some members have chosen to assail the OP.

This question is very typical in marketing classwork. In my era it was "How would you sell refrigerators to Eskimos?". Later it was, "How would you sell an ashtray to a non-smoker?"

Perfectly valid question.

To the OP, have your student research Zig Ziglar. There is a technique to do the seemingly impossible deal in 3 questions.

Well said Paul, I think we should all lighten up a little bit. Whether you think the question is valid or not this could potentially become a rather funny thread.

[imono]

Nice question.
Could not come up with an answer.
Really a great question.

[crew]

Originally Posted by ftgokie

This is aboslutely the most stupid thing I have ever heard of. You would stand a better chance of selling pornography to a preacher!

I like the way you think!

[reebok]

A rolex would be a portable investment that would not rely on trusting a hedge fund, bank or stockbroker. Can be managed with simple protection from year to year. Maybe that car they have is an 'unrealised asset' that could be converted to a rolex.
Wonder how many homeless are the 'new homeless' that may still have some assets, just not houses etc.

[HRV]

If you look at the problem from the point of view that you don't need to make a profit or break even.......then it should be quite easy to sell a watch to almost anyone at a loss, not all homeless people started out like that and indeed some may even have owned a rolex at some time in the past and as such can can appreciate the watch for what it is, even if he buys it for a dollar, what's to stop him heading to the closest pawn shop and selling it for a nice profit

[Young Connoisseur]

Originally Posted by 77T

I am a bit surprised and chagrined that some members have chosen to assail the OP.

This question is very typical in marketing classwork. In my era it was "How would you sell refrigerators to Eskimos?". Later it was, "How would you sell an ashtray to a non-smoker?"

Perfectly valid question.

To the OP, have your student research Zig Ziglar. There is a technique to do the seemingly impossible deal in 3 questions.

+1 to that, wow.

This seems like a question I heard in high school marketing even.

[Grissom]

Originally Posted by HRV

If you look at the problem from the point of view that you don't need to make a profit or break even.......then it should be quite easy to sell a watch to almost anyone at a loss, not all homeless people started out like that and indeed some may even have owned a rolex at some time in the past and as such can can appreciate the watch for what it is, even if he buys it for a dollar, what's to stop him heading to the closest pawn shop and selling it for a nice profit

Based on the question as posed, I think you nailed it, and interestingly enough, pricing according to ones geographical market is exactly what Rolex and others seem to do, which is why they so vociferously go after unauthorized "imports" into the US, from markets where the MSRP is significantly less.

Pricing it at a level that even a homeless person could afford, coupled with the upside profitability to be realized from a secondary market sale would certainly make for a very effective campaign!!

Well done, Andrew!

[Cru Jones]

Originally Posted by FeelingTheBlues

Not to spoil your fun but the OP is from Canada and last time I checked it wasn't a state.

not true, carl. i tell most people here in paris that canada is basically the 51st state.

[watchf]

The concept of selling involves money changing hands in various form be it cash, electronic, paper/Cheque etc. I assume by homeless it is referring to the typical homeless that has no monetary ownership and no steady income/no income at all and relate day to day on charity. If that is the case 'selling' would not be the strategy to use as the only thing that a homeless person possess is his/her ability to do work. Hence trading labour for a period of time and intensity of a homeless person for a Rolex would seem more plausible than trying to sell a Rolex to a homeless person.

[mjclark32]

You need a new marketing head....

[bayerische]

The student need to change schools. Assignment selling a Rolex to a homeless person???

What did the other students get? How to sell ice to Antarctica?

[Welshwatchman]

They teach marketing in school today?

Holy crap.

Anyhow, this is how it could be done.

1. Despicable organisation buys a $10,000 Rolex.
2. "Markets" it to a homeless person for 10c.
3. Homeless person sells it to trusted seller here for a good fair price. I'm not saying that a pawnbroker would take advantage of such a seller but there are a few here that certainly wouldn't.

Other than that, just suggest the student to answer "don't ask me to do such stupid assignments" and concentrate on their science homework instead.

[Bangel]

Originally Posted by 77T

I am a bit surprised and chagrined that some members have chosen to assail the OP.

This question is very typical in marketing classwork. In my era it was "How would you sell refrigerators to Eskimos?". Later it was, "How would you sell an ashtray to a non-smoker?"

Perfectly valid question.

To the OP, have your student research Zig Ziglar. There is a technique to do the seemingly impossible deal in 3 questions.

Yes I agree too.

Here in Australia, we have a show called The Gruen Transfer which is about advertising and marketing. One of the regular segments is called "The Pitch" in which 2 real advertising firms have to compete against each other to come up with the best television commercial to sell a product or promote a cause to a seemingly ridiculously inappropriate target market. Much the same as the how do you sell an expensive Rolex to a poor person question posed here.

So yes, I do think the OP's question is valid. Unfortunately, I don't have a good answer.

[Brushpup]

A very bad premise...sell a Rolex to a homeless person? Leaves no question that teachers can be crass, lacking imagination, stupid, and employed.

This is not someone I would want to "learn" from.