Markets are booming (Sensex crossed 20k mark) as economy is shining; opportunities are lying everywhere and jobs are popping up each day for bright souls, but is it all that is needed for giving that extra edge to the presence that you want to have in this more than 6 billion junta of the world. 5.9 billion punters will say 'No' but still follow the same route as they are stuck in one or the other traps while the remaining 0.1 billion will say that they already have their presence and they want to see more people enter 5.9 billion wala side. Everyone wants to outshine but don't want to give up the easy life or you can say - Ground rule of Zero, where you want to get maximum returns out of minimum efforts. In college, we used to call it a 'Mind trap' but is it just a trap?, and if you decide to move out of that trap then are you done?
This strategy of deciding and moving forward works for some and fails for other, but the discussion point here is way too intrigued then just a matter of mind trap. Even if you choose to go ahead, questions pop up like do I have a selling idea? what if my idea is not unique?, and what if Ambani bhaiya jumps for the same market? Answers to these questions are not simple but working in a strategical way might work. Consider these lateral examples - Is it Reliance as a business group or as a brand that sells? Is Cricket or idea of watching/playing cricket sells? Is Provogue/Wills Lifestyle's quality, product sells or the brand value sells? Or, is it the irritating Girl or idea of having a girl with you in the pub matters?
If you haven't yet deciphered a way of moving towards the solution. Here is a guiding principle. 'Reach out to the customer in a way he/she wants'. Understanding the customer is very important in business and if you take the parallels then in life too. North Indian junta's tendency is to show off and hence decent salaried youth will always go for known brands (which violates the basic rule of earn in rupees and spent in dollars; Reverse should always be applied). Or, for that matter cricket has been taken to the Indian streets to the extent that not knowing Cricket is a social crime today. Dhoni is a National hero today where as Vishwanathan Anand is just a good chess player. :) Anyway, rule of thumb is that you should always know your customer and for that matter how to get close to them. Get close to them, play tactics of using Hinglish or Idea Cellular, Tata Tea type marketing fundae. Don't ever show that customer segment is unfit for you. Try to project that any one else if enters will not be a suit for the match. Like Reliance is targeting bottom of the pyramid, they can't sell blackberries to the CEOs.
Always look for a particular segment and create a buzz that lasts forever which will be backed by good quality products, good service and customer retention through timely follow ups. Phone call follow ups help. Marketing plays an important role in setting the right impression amongst your customer. Create a buzz so that even if Anil bhaiya enters your arena, he falls short of something.
Think big but play safe ...... It is easy to think big but it is hard to compete there
This strategy of deciding and moving forward works for some and fails for other, but the discussion point here is way too intrigued then just a matter of mind trap. Even if you choose to go ahead, questions pop up like do I have a selling idea? what if my idea is not unique?, and what if Ambani bhaiya jumps for the same market? Answers to these questions are not simple but working in a strategical way might work. Consider these lateral examples - Is it Reliance as a business group or as a brand that sells? Is Cricket or idea of watching/playing cricket sells? Is Provogue/Wills Lifestyle's quality, product sells or the brand value sells? Or, is it the irritating Girl or idea of having a girl with you in the pub matters?
If you haven't yet deciphered a way of moving towards the solution. Here is a guiding principle. 'Reach out to the customer in a way he/she wants'. Understanding the customer is very important in business and if you take the parallels then in life too. North Indian junta's tendency is to show off and hence decent salaried youth will always go for known brands (which violates the basic rule of earn in rupees and spent in dollars; Reverse should always be applied). Or, for that matter cricket has been taken to the Indian streets to the extent that not knowing Cricket is a social crime today. Dhoni is a National hero today where as Vishwanathan Anand is just a good chess player. :) Anyway, rule of thumb is that you should always know your customer and for that matter how to get close to them. Get close to them, play tactics of using Hinglish or Idea Cellular, Tata Tea type marketing fundae. Don't ever show that customer segment is unfit for you. Try to project that any one else if enters will not be a suit for the match. Like Reliance is targeting bottom of the pyramid, they can't sell blackberries to the CEOs.
Always look for a particular segment and create a buzz that lasts forever which will be backed by good quality products, good service and customer retention through timely follow ups. Phone call follow ups help. Marketing plays an important role in setting the right impression amongst your customer. Create a buzz so that even if Anil bhaiya enters your arena, he falls short of something.
Think big but play safe ...... It is easy to think big but it is hard to compete there
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