18 December 2017

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Sales & Marketing

Mr Ashwin Merchant

Marketing Prescription: Think like buyer, not seller

MARKEING PRESCRIPTION#6

Think like buyer, not seller

In last ten years how you have changed as customer? Demanding quality, best price, free delivery, extended credits, more guarantee, choice of colors, size, shape, material … but, when you make products you do incorporate some of these and many more that your customer demands?

Think and answer these 5 questions to yourself : who is my customer? who is not? why my customers are mine? why others don't? what my customers buy from me and what I have to sell?

 

MARKETING PRESCRIPTIONS: Forget 4Ps, Study 17Ps

MARKETING PRESCRIPTION No. 5

"Forget 4Ps, Study 17Ps"

Business is changing and so does marketing. 4Ps theory is half a century old, still taught in management schools and all those who know basics of marketing define business strategy as in past it used to be on 4Ps – product, price, promotion and place. If you notice well in modern emerging markets, you need more Ps to survive, to lead and to grow your business. Of course, today business is marketing. How about incorporating packaging, planning, payment, profit, people, praise, personality, professionalism, perks, performance, productivity, prestige and positioning as additional Ps?

Ashwin Merchant

MARKETING PRESCRIPTION: Find weakness in strength of competitor

MARKETING PRESCRIPTION #4

'Find weakness in strength of competitor'

All schools in management teach a simple formula for beating the competition – Find your strength, Find competitor’s weakness. Develop a marketing strategy keeping this in mind. No more it works effectively. SME owners must know they have a unique strength in terms of instant decision making power and quick execution of business, whereas most of the large companies and MNC lack this factor – it is weakness of theirs in overall strength. Use this as your strength.

SMEs, Get Your Idea Checked Before You Invest, Before You Spend...

By Ashwin Merchant

We know every entrepreneur has unique set of strengths viz. constantly emerging ideas, gut feeling, quick decision making ability, taking risk, will to execute and self motivation and leadership quality. On the other side, a quick note on common weakness most of the entrepreneurs display, viz. never planning long term objectives, invest in business process, hiring professionals & experienced specialists, myths about marketing as mass advertising, misunderstanding marketing with tools of marketing and always ignoring marketing as an important business function.

'Set Targets, Create Opportunities'

By V Pradeep Kumar 

Years ago, a young and shy boy called Shrikanth, who was just out of  manage-ment college, sat in front of me. He was facing the first interview of his life for a marketing job. I made him relax, said a few encouraging things and took a chance by offering him the job. Though a weak performer initially, he gradually got better. Working with our firm for three years, he worked hard. After accumu-lating the necessary experience, Shrikanth is a successful entrepreneur today.

Four Reasons Why You Should Use Social Media

Networking through Social Media has become a hot trend for both personal and professional matters. Thanks to the giant leap of Internet Technology, making the 'tech' life of people more creative and result oriented. Nowadays, building and using business blogs have become a standard practice for many marketers in order to avail the optimum use of Internet. With the growth in popularity of online social sites many have begun using these communities as their primary marketing platforms.

Three Cost Effective Ways to Market Your Small Business

What your business needs for its survival is public exposure. For that you must not only make your target audience aware that your company exists, you must also motivate them to take the buying action. And there are many cost effectives ways you can depend up on when it comes to marketing/advertising your small business.

Innovation in Marketing Spells Out Success

Marketing innovation is something which can do wonders to any business. SMBs should consider marketing innovation as a priority as for them it is really essential.Innovation is such a bread earner that people have realised its potential at all levels.

Business Mantra: Innovate Your Marketing Ideas!

From the Editor's Desk

 'Marketing strategy' is one of the mostly used terms in the business vocabulary trans globe. The success of any business, be it small or large, depends heavily on how good and effectively, the services or products companies have to offer, are being marketed. Hiring marketing professionals alone cannot make any wonders unless some innovative marketing strategies are applied which will have a direct effect on the psyches of the consumers/customers.

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