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The black hole of marketing



  • The price  of energy  is going up.
  • Costs of production is up.
  • The market is down. Sales are down.
  • The political climate is uncertain…
  • The currency is fluctuating, Bank lending rates can not to be trusted any more .
  • What are you going to do? Wait until things change? Or  do something about it. NOW!

The days of  checking out markets and producing similar products, only cheaper are over.  China and Vietnam are rushing to explore new markets. Marketing has taken on a new shape of a fast global hunter. The best way to keep staying alive is to INVENT.
Re-invent your Brand. Not just the appearance of  your Brand.
Not the event and the PR activities. Re-invent your Brand from the ground up.
Come up with relevant and yet non existing products and services ideas.

Have you noticed that the quest for novelties is always at the forefront of purchases and acquisitions? People are always looking for something new… At a reasonably priced of course. A genuinely new and relevant idea will always succeed. Always! Truly novel ideas spread out like a wild fire. Everyone wants it. Domestically  and abroad.A case in point are the extraordinary developments in the electronic and IT industries in Korea, Japan and the USA. Patent registrations for  Companies like Samsung  are close to 4,000 a month IBM spearheads the field  of innovation. And everyone buys their products.

The usual arguments:

  • Yes, but the customers don’t have the money to spend…”

  • The counter argument: “People are still buying and innovative corporations still grow”

  • You may have efficient manufacturing you may have a proficient marketing department. And This department may have some good ideas how to promote and sell your products. But that is not enough to counted the speedy and vicious competition.

  • The fact remains that as long as you have competition in your category, there is business to be made. There is an opportunity to be better than the competition and get Some of their business.

  • Not everyone suffers from the economic glut equally. Some of your competitors may even sell better than before.

  • Ask yourself how come? And by doing so, please dismiss their short term promotional activities.

Please do not disregard the entire global force. It is a grave mistake to think that the we live on an island and as long as it is good enough for “us” it is good enough. We have reached the point where marketing and selling techniques are no longer enough to compete in the market place…. Anywhere.

How do you get to the point of truly re-inventing your Brand.
The first step is to recognize the need to make some changes. The second is to find the people. In doing so you need to create an environment that supports innovation.To accommodate and facilitate new product and services developments, may require
some structural changes in your company.
And finally you need a highly motivated team. People with the skills to come up with new ideas. Not the kind of people who are used to look at what the competition is doing, but people who can think about your product and services in a different way. People who dare to think the impossible without fearing retribution from management.

1.Be alert, never underestimate the competition, and be prepared to fight for your market position.
2.Be innovative. Differentiate yourself through innovation. Re-invent your company, your products, your brands. Not just in looks but in content and application.
3.Revise your marketing plans: “React short terms – Plan long terms” identify new means of marketing. Thai Companies are well advised to change their policy of short term profit seeking.
4.Get closer to your prospective customer It is crucial to be relevant to the customer and the consumer and not just appease buyers by dropping the price.
5.Ensure quality of your product or service. A comprehensive Service Program can make a dramatic difference in the likelihood of a customer choosing one Brand over another. (All else being equal).
6.Invest in your Brands. Probably the biggest misconception amongst entrepreneurs is that Brands are cash cows. A Brand can only sustain itself with a continuous support. (Not necessarily in awareness alone but in the development of its core values).
7.Be vigilant about the reputation of your company. Loosing a reputation can be a irreparable damage to your Brand.
8.Get the right professional support. A company is only as good as the people it employs. Investing in professionals is key to success.
9.Consider expansion. If the market you are in is stagnating consider expanding into other markets. Either into other related categories or into other geographies.
10.Be true to yourself. It is of no use to anyone to amulet to become someone or something they can not be. Knowing your strength and exploiting it is the best guarantee for success.

 

   
 

Goslar & Associates Brand Building Agency - Bangkok
Creating : Brand Position, Marketing Plans, Brand Identity, Advertising and persuasive image campaigns, Building Brands in Thailand, South-East Asia Europe and USA