Posted by Last couple of months I have enrolled in a short program for learning management. Out of long list of subjects Marketing management is the one which set my imagination soaring. I have realised within a month that it is this is one subject which affects life more than any other. What I buy is more dependent on how well it is promoted than how good the product may be.
Life lessons….
Success or failure in life events is all dependent on the marketing management skills (or lack of it) of every individual. Life is all about the 4Cs (customer needs, cost, convenience, and communication) and 4Ps (Product, price, place & promotion) theory of marketing management. Most of us attribute luck to someone’s success and our own failures. Well, it is not luck but the 4Cs/ Ps which decide one’s success or failure. If one considers himself/ herself as a product and the interviewer or whatever one is looking for as a customer everything will fall in place.
The start point is selecting the target customer; the job/ business you want to enter. Then the process of understanding the customer’s (job’s) needs starts. A detailed Research & Development should be undertaken to understand the customer’s needs/ mind and prepare the product accordingly. This must be done with utmost dedication for creating good chances of selection. This is the area most products fail; not understanding the customer’s needs.
This should be followed by fixing the right cost. What all are you ready to forego to meet the standards fixed by the customer you are targeting? One should dedicate enough time, money, and efforts in preparations for facing market competition. Learn additional skills to make it more convenient for the customer to select you. The skills not just improve the market value/ USP but also helps in positioning the product at the right place. I have always dreamt of learning a music instrument but if I do not invest money or time in it, I will not reach anywhere (I have not yet set my foot on the start line).
Prepare a complete package…..
It is not just enough to package the product as per the customer’s needs. It is important to communicate/ promote the qualities of the package in a way which arouses interest in the customer and compels him to select the product. The CV should be professionally drafted to hit the right chords with the selectors.
Once the CV has been shortlisted it is all about how well you present yourself and your ideas which will carry the day. If you have carried out systematic preparations luck will always be on your side. It is not luck but the marketing management skills which will improve your chances of success.
Lessons I learnt during my life journey….
This was a very good post! I would love to learn more about the marketing tips you learn from your class. I love this type of content, thanks for writing it! 🙂
Thank you so much….🙏🙏
Very good words of advice
Thank you Dawn..🙏🙏
However, without money, nothing moves. Starting capital is extremely important, as well as location.
Individual businesses cannot compete with the price reduction which huge enterprises apply nowadays. For a CEO of a large business, this type of market management will work and there are always ways to improve. Single person is unable any longer to do everything: market, research, price, communicate with clients, promote, network, etc. because they spend the most time creating the product. Now add to that the many daily chores and there’s no way because of time.
I’m glad that you have found new skills and are on the path to improvement. Any country is different and many things will work exactly at that place, community and country.
Thank you so much for your time and the insight…stay blessed 🙏😇
A very interesting write-up Krish!
Thank you so much Mona….always good to hear from you..🙏🙏🌹🌹🙏🙏