Dodo Loves Marketing

Whilst there can be no argument that long-term, sustained profit has to be the goal of any commercial organisation, there is a growing realisation that if profit is the end, then we should spend more time examining the means whereby it is achieved. So many management boards begin their weekly meetings with a review of the financial position — in other words, before anything else is discussed revenues will be examined and costs detailed at some length. Ratios, production efficiencies — these are the currency by which the business is measured and therefore controlled. ..more

• Read More »

Achieving global synergies

The concept of synergy is simple: the whole should be more than the sum of the parts. It is often described as the ‘2 + 2 = 5′ effect. The search for synergy is one of the main drivers of the trend towards the globalisation of industry, particularly in manufacturing and logistics.

It has often been suggested that there can be significant benefits if R&D, product development, manufacturing and marketing can be coordinated in order to avoid ‘re-inventing the wheel’ country by country, and also through economies of scale in procurement and production. ..more

• Read More »

11. Test the product thoroughly prior to launch

Your new product won’t get off the ground unless you test it before the launch. Customers hate being guinea pigs and will start looking elsewhere for supplies, as well as returning faulty goods for recompense.

12. Plan the termination of a product’s lifespan

If a new product is intended to replace an existing one, it is essential to time the introduction of the new product so as to allow stocks of the existing product to be sold first. Be careful not to ‘land’ stocks of old models on a valued customer’s lap, as he will resent being overstocked and be unable to take up stocks of the new model. Try to find a market that will willingly accept the old models so that all your valued customers can be involved to the full in the new product launch. ..more

• Read More »

Managers enjoy being involved in success and so will be full of enthusiasm as sales of a new product start to take off. Expansion and sales development from an increased range of products or a wider geographical area will not find enthusiasm or hard work wanting.

But how do we foresee the end of a product’s lifespan? Be prepared for it with a policy for new products and product improvements.

1. Prepare a product improvement plan

If your present products are selling well you cannot be blamed for feeling satisfied. However, your competitors are watching you with envy and will not have been idle. They are probably working at this very moment on a product with a few advantageous features, so don’t ever think that your current product design is the ultimate. There will be changes in style, custom, fashion, new technology etc. Ensure that your programme of product improvement keeps you ahead. ..more

• Read More »

‘Every time a friend succeeds, I die a little.’

Promoting the sale

You have provided dynamic, written material, you have had a successful appointment and the potential client seems pleased by what you have to offer. However, he or she is wavering about giving you the business project and, as always, you realise that you have hungry competitors wanting the business, too. In this case, a special offer on your part can make the difference. It says, ‘I really want your business.’

The essence of sales promotion is that it must be easily understood and relevant to your product. It will seem ludicrous to consumers to receive a free embroidery kit if they are buying a puppy! With this principle in mind, let’s look at some examples.

Promotional techniques

In hairdressing you can promote your business using hairdressing products. In fashion, you can use accessories or perfumes. With books you can offer membership to a book club. Your offer must always sound right and be related in some way to your product or service. Here are a few types of special offers you can consider; they represent some of the best promotional vehicles I’ve seen in the past few years, with the exception of competitions, which I have included for discussion only. ..more

• Read More »

You must be clear on the differences between illegal pyramid scams and network marketing. Here are the factors that make for a genuine network marketing company:

• The company must be a bona fide retail organisation which markets legitimate products or services to the consumer.
• The company should offer quality products or services for which there is a genuine demand.
• The price of the goods sold must be fair and competitive.
• There must be no up-front investment requirements other than a low-cost starter sales kit.
• There should be no minimum purchase requirements to join the network other than those essential to do some trade. ..more
  • Read More »

Network marketing is a completely legitimate business. It has nothing to do with ‘pyramid selling‘ or chain-letter-type scams which have made newspaper headlines. Indeed, the worst excesses of pyramid operations have been largely stopped through legislation and consumer education.

For example, in the United Kingdom, legislation was passed in 1973 which detailed:

• what could be said in advertisements
• which promises could be made
• which information could be included in documents issued by promoters
• what the rights of distributors were
• undesirable practices such as charging for training.
• that network marketing companies were also required to buy back certain stock from their distributors on termination of any contract.

These regulations have been extremely effective in ridding the system of abuse. ..more

• Read More »

If the prospect says that she is not interested in becoming a distributor, at least try to convince her to be a product user. Product users swell your monthly sales turnover and can give you good word-of-mouth publicity. What’s more, many users, once they are convinced the product really is good, become distributors.

You might also try to obtain a sales lead: ‘Mrs Dlamini, I understand your situation. You’re too busy at the moment. Perhaps at a later stage you will find the idea more attractive. Let’s keep the door open. I’m keen to make a success of this new career right now. Could you suggest a couple of people you know who would be interested in supplementing their income?’ In this manner you get straight down to prospecting for leads. ..more

• Read More »

If a company’s strategy represents its overall approach tomaximizing business success—stated in terms of achieving certain sales, profits, product delivery, and employee turnover goals—then the mission statement represents a more generalized and idealistic vision of the company’s purpose in life. If done right, a mission statement can go a long way toward energizing everyone in an organization to achieve the ideal.

Unfortunately, in the rush to develop mission statements, many companies have established statements that are somehow too general and lofty. I have seen a number of missionstatements that commit companies to being “the producer of the highest-quality (name the product) in the world” or “the top company in the (name the industry).” In my experience, the best mission statements are oriented in either of two directions: ..more

• Read More »

Companies that have attained the status of market leaders are not content to rest on their laurels or on their existing products, nor should they be. They accept the unending responsibility of exploring uncharted terrain to imagine and design new products with original features and unique benefits. Market leaders are always thinking about the future, working to anticipate not-yet-recognized needs.

They also know that customers—especially searchers—are not necessarily looking for what they are selling. Often people want something that doesn’t yet exist, or they have a problem to which there is not yet a solution. Historically, market leaders made sure that their pipelines were filled with a steady stream of new technology, distinctive designs, and original gadgets. Today, a full pipeline is not enough. To satisfy searchers, market leaders must try to answer questions that have not yet been asked. ..more

• Read More »