Marketing Your Product / Service World Zarathushti Chamber of Commerce Young Entrepreneurs Programme Friday, June 16, 2006
Marketing Strategy Good products with inappropriate marketing strategies and distribution have not done as well as expected While Mediocre products with great marketing and distribution have exceeded expectations
The Environment Product/Service Packaging Marketing Image Promotion Distribution and Marketing Presence
Critical Factors Spend quality time to analyse the competing products and services, filter and learn from their good practices / features Understand the marketing strategies and target segments, business development model and supply chain management of competition. Define the challenges from each competing product or service. Integrate learning into training programme Create a positive differentiator for your product or service. Integrate it with your marketing and sales strategy. Emphasise it in the training program
Some Success Factors Hiring, Training and Retaining the BD team is a very critical ingredient for success Hire carefully, do not compromise job fitment Training : Sales School should be very comprehensive, with significant role play and objection handling modules. Involve external professionals if necessary Retention : Plays a big role in the eventual success of the business Initial senior management support in the market to procure business Carefully thought out launch and market penetration strategies Set achievable targets and achievement recognition and incentives
Some Success Factors Target Market, Target Segment identification Promotion Strategy and Promotion Avenues POS material Pricing After Sales Service
Some Success Factors Periodic Review of Business Plan, mid-course correction Regular Product / Service Enhancement Programme Regular Competition Review and Market Feedback Pricing Review / Promotion Plan for Growth – Organic and Inorganic
Some Success Factors Expansion and Distribution Plan Human Capital Development Plan Business Risk Mitigation Plan
Open House
Expansion Options 1 1 1 Regional Office 3 2 Head Office 3 2 2 Regional Office 1 3
Expansion Options Franchising
Thank you!
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