Transcript Marketing Your Product Service - World Zarathushti Chamber of

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
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
Regional
Office
3
2
Head
Office
3
2
2
Regional
Office
1
3
Expansion Options
Franchising
Thank you!