Articles, Blog

mod12lec55

October 12, 2019


Good morning friends, till the last class
we discussed up to rule 8; now we will go forward for further few rules, which is very
essential for marketing managements. Rule 9 identify your USP. USP is a very standard
word which is being used or its floating in the marketing scenario. What is your USP everybody
is trying to know. So, basically what is that uniqueness that your product has, it is like
unique selling products or anything like p you can put for anything.
Unique selling unique selling products that you can think of. So, what is most important
in this particular rule is, first you identify the uniqueness of the product that you are
selling. Because you have reached a clients door, the client is using the similar kind
of products since long, you are not the first time a seller going with a product like that.
So, you have to first find out the uniqueness of your own product. If you have understood
that then start your dialogue with that uniqueness. Do not start with discussions about the other
features, which are common in other products competing products. So, you first identify
the unique sales point of your product ok. Now, this unique sales point is very product
specific every manufacturer are trying to make some uniqueness or bring some uniqueness
or invite some uniqueness in the products that they are making. And always they are
highlighting through brochures through advertisements through media. So, you must first know that
you should know what they are. If you do not know, then I would say you are not yet prepared
to go for marketing first you have to know for which you have to take the help of your
technical team. And you can ask n number of questions to your technical team to know about
these products, I always ask them then what is a uniqueness.
People who designed your team who designed this, people who have manufactured it, people
who have tested the quality of it, people who are now branding this. Through sales promotions,
asked them as many questions as you can and these questions are generally very unpalatable.
Whenever asking these questions to your teammates, they generally do not like it. They would
always try to highlight the uniqueness as they perceive, but your perception of the
uniqueness has to be something different. You are meeting the client, your friends are
not, your colleagues are not, your back end staffs are not your production team is not.
So, what is to be done is you first know what they are. If you know that this is the uniqueness
some time it must so happen that the uniqueness is not very clearly you know clearly identifiable,
but you as a salesperson try to find out what is the uniqueness of your product ok. So,
if the unique selling points which is very critical. Once you know them if you know the
USP, ah let me use the term called USP henceforth. If you know the USP of your product then you
should also know how to use them. It is not how to use them in terms of your marketing
promotional thing no; its how to use that USP for the benefit of the customer because
customer is going to buy based on that USP. So, whenever you are putting one particular
product in comparison to your product and you are trying to highlight your product,
the USP is the most important thing in which you are saying. You must have seen in the
media there are lots of competing products who are advertising; some time they become
slightly more you know tough or some sometime it is little you know ah unethical to say
very negative about some other products which they are doing it. Ok there should be another
regulatory authority who is going to check about the ethical ethics of that or whether
its ethical nature of that particular kind of media promotions. But what I am saying
is you highlight all the points that is a common feature which is comparable with another
products already in the market, and now you are going to say that this is that USP, which
is going to give you that extra benefit. If you remember I said people do not buy the
product really, they buy the benefits; they buy the end results ok in such cases you have
to be very very critical on that. This is a question I always ask the salesperson
whoever is trying to sell me one product; whether it is a fruit that he is selling,
whether its a vegetable that he is selling or he is selling some household goods. I always
ask a question very very you know during the conversation I always ask have you used it
have you used it? Have you seen its good? If its a fruit, have you tested it?
Most often people are taken a back, because the salesperson thinks that he is highlighting
all the points you know all the goodness of the particular product, but if suppose asked
have you used it. Then in such cases if they really have used it they will always say yes
I have done it, but the thing is you also have to be very clever in this. If you are
asking for if you are trying to buy a costly item, which you know that the sales person
cannot afford it you should not ask these questions I have used it, because he could
afford how could he use it. So, trying to buy a ac, a salesperson who
may be getting a very nominal salary and his job is to do the marketing in the shop, and
if you say that have you used it its not a very you know right question. But the thing
is for certain items, which are household items, certain items which are very common,
certain items which are within the affordable limit of most of the people in such cases
you can always ask have used. So, the question which can come from your client a customer,
it is better that you be prepared for it have used them. Quite often I have also found some
smart salesperson and they saying it very honestly, they say sir actually I have used
it I have seen it myself it works. It works better than that particular product
ok, but one thing I would like to highlight here be very cautious when you are taking
this particular particular statement like the salesperson is used. I have experienced
one salesperson he had been coming to me with his product literature and the product samples
for years. If I recall roughly for 10 years he had been coming to me you know trying to
sell his products, basically he is requesting me to prescribe or you know specified his
particular product of the laminates ok. The laminates which ah which you do use for you
know ah partitions tables and all that and the laminates which are over the wood materials
or say MDF materials. Now, that gentlemen every time was highlighting
their companys product is the best; that means, they were always saying the USP, USP, USP
of his own product 10 year after he changes his company goes to the opponents company
the computers company. He comes again to me with the product from that particular production
group, manufacturing group and he starts highlighting the USP of that. You know there I have taken
ah very serious tons, I have asked that particular salesperson ok for last 10 years you have
been selling this particular product and you have been saying this is the best and the
other one was not the best and today you have shifted your base from here to there, and
now we are seeing the one where you have gone to is the best. Be honest be honest in saying
that which one is the best I will tell you honestly the person then said which one is
the best and he had to say, the company which he left company which he represented for last
10 years was still the best ok. So, this is basically as a marketing person
you do not you do not get you know take any opportunity to fool your customer, because
customers are also including people like you ok. But however, the thing is it is have you
really seen it, have you used it and these are very common things which you have to take
care of it. When you have found that there is there is a USP in your product which here
now marketing in such cases you first convert that USP to need and then the need to want;
and if you recall I have already said that you turn the need to want and the want to
closure that is sell ok. So, its similar if you have the USP in your
mind and if you are convinced about the USP of it, you keep on speaking as much as you
can convince your client and then ultimately convert, that particular items to his need
first and then to want and then to sell. So, that you know he is ready now to part with
the money and take that particular product. Another very important thing is required is,
you embed the USP in the brochure thats what I said that these are embedded in the brochure
in the media advertisements and this embedding embedding is very very important ok.
Next is the rule 10; this is a very serious point I would like to highlight certain things
on this, do not be price panicked. See usually we expect that the client is price panicked,
but I can tell you the sales persons they are themselves a price panicked how? A salesperson
who is trying to market a costly item, he knows that this particular item is costly,
he goes to a customer and he is now you now you know ah little skeptic whether the customer
will accept the price or not. If internally you are suffering from high price panic of
your own product that will show on your face. Every time every marketing person whether
its in a shop or its door to door marketing persons, when they know that their product
is slightly higher than the other competing products it shows in the face. But my suggestion
is you do not have to be the reason is; you know price price panic will come when you
think that the product is not worth the value of the price that you are asking for that
is why you are panicked, you are quoting high price and you are also ready to give some
concessions ok. The once you offer the concessions right on the first stage then automatically
the entire trust between the customer and you as a salesperson vanishes. Customer thinks
that ok you raise the price first, now you are giving concessions, all these sales thing
you know sales business yearend sales or you know season sales in all the shopping malls
that gives you a very clear idea. Some household furniture, which you have seen
in a shopping mall which was costing about 80,000 and in yearend sale you find that to
be 45,000 you know what happens? What happens in your mind as a customer first you think
of it, as a customer the customer will think ok in the beginning of the year when I came
at that time it was 80,000 and end of the year end of the year sale is 48,000; that
means, the remaining amount is the profit that they were trying to make, and since they
could not make the profit there are no such fools who bought it.
So, now, they have to get rid of it so, that you know they get the cost at least back with
some bit of profit, that is why they reduced the price. The moment there is a sharp difference
between the original price and the yearend sale, which is concessions then entire trust
vanishes, it is because of which everybody waits for a yearend sale and whenever there
is a discount of say 40 to 50 percent people wait for it and then they go and buy.
Same article he is buying one year after. In one year after this does not get devalued
by 50 percent that is very very sure ok. Here my suggestion is dear marketing person you
do not have to be price panicked means you do not have to be price panicked about your
own own products price, you should always see what is the value of it ok. And if you
you may give some concessions as per the policy of your company, but the concession should
not be such which gives a different kind of illusionary idea about the actual price of
that particular product in the mind of the customer; this you have to be very careful
ok. Your product need not be really cheapest,
it is not necessary that your product has to be cheapest. You have a good product which
has a high value in terms of its functionality, in terms of his worthiness. So, why should
you bother that whether it is cheapest or high it is high, you go and say boldly to
the client that this is high you can also say this is higher than that particular competing
product, but this is also feature wise, benefit wise, end result wise is better than the other
product. So, once you are very much convinced about
it then in that case you do not suffer from the price panic very few products are price
sensitive. In fact, it is true; no such products are very price sensitive every company when
they work out the prices you know first they will take the cost then they they will start
thinking about the profit and the profit margin where they really play with means how much
they can make adjustments in the profit. So, what they do is, just to enter into the market
they might give you know they might sell that you know lesser profit, but suppose there
is a high demand and less of supply, in such cases they will be increasing the profit margins
ok. So, very few products are really that price
sensitive, it is people buy and I said the people do buy you know when they think impulsely
or emotionally or when they are guided by emotions. So, next is the price is the only
factor then salespersons were redundant; that means, they were not required. So, here the
point is price is one item, the value is another item the worthiness of that particular product
is another item. So, it is if it is high priced do not bother. Many good shops or many branded
shops they do really compromise on their prices sometime at the yearend sale, they give a
little bit of discounts say 10 to 20 percent or 30 percent for one reason. You know what
they do is they work out the entire cost comprehensively for the entire years product ok.
And then they see how much was their target profit and then they check how much they have
reached towards that target profit. If they found that their it has reached fairly well
then in such cases they think that ok this knob this particular product is likely to
be out of fashion now if you hold it for long. So, just not to lose the market because of
the change in fashions, they try to get you know get rid of it or dispose this off, at
that time they give higher discounts. But the thing is its very very you know surprising
that every year some shopping malls, they keep on giving yearend sale and every item
is almost 40 to 50 percent discounted. Now, if really that was worthy of the original
price, I could have understood that ok 10 percent discount is all right fine, they are
making adjustments of 10 percent, but how come it can be 40 to 50 percent? Many shops
you find that they really do not bother about the discount or they do do not even bother
about the price high price of their commodity, they simply say this is our price and they
can also say that because of the you know festivals, because of the yearend or because
of the financial closure we are giving 10 percent discount that sounds very fair.
Here I would say that do not be afraid of your price, you rather be proud of your value
this is what I had been saying; price and the value price and the value ok. There are
three items cost, price and the value ok. Cost is the entire cost associated with manufacturing
this including reaching the particular spot from where it will be marketed; that means,
the shopping mall or the market or at your doorstep entire cost. The price is the cost
plus amount of profit that the manufacturers or producers are trying to derive out of it.
So, price minus the cost is basically the profit, but the value I am hinting at value
the value is something which is absolutely depends on the worthiness of that particular
product in the mind of the customer. You can only highlight the value, but you could really
cannot force the idea of value in the mind of the customer you can highlight you cannot
say it is going to be valuable to you somebody who does not who cannot afford to him this
particular product is absolutely not worthy not valuable because he cannot afford it ok.
So, whenever you are trying to go for a product selling and it is of high price, then do not
focus on the price, always focus on the value of it and you will find that the customers
who are genuine customers and were knowledgeable customers or were informed customers, they
will buy it because they know the value of it. Do not apologize for your price this is
another. Quite often I have found, the salesperson is saying I am sorry the price is little higher
on this side you know. So, you know its he is being apologetic, by being apologetic he
is trying to you know win the heart of mine or win the heart of the customer. My point
is if your price is high and its worthy of the value you do not have to be apologetic.
If you really want to help the customer by giving a little bit of discount do that, but
never be a projecting about your price. See this is where the honesty of price comes;
if suppose your price is really worked out based on a certain amount of profit which
is very rational reasonable and the cost is this much and this is the price which is you
know below this particular price there will be lesser profit, which simply will be stressed
on the finance of our capital of the company or manufacturers in such cases let the price
be fixed, and you say no bargaining no bargaining please try to see what is a value of it ok.
So, do not have to be apologetic this is one of the disease two disease disease is our
salesperson suffer from. One is that they think that their price is high that is a price
panic of their own product and the second thing is they become apologetic for that do
not be. People buy values not price. I said the customer
thinks about the value; you know whenever a customer is seeing your product at that
point of time he is trying to analyze that products value or the worth of it or the utility
of that particular product himself or his family or his business whatever ok. So, basically
people are buying based on the values not on the price. If the value is really high
its such cases people do not really bother much for price off course they will think
about the competing prices . Let me give an example. Suppose in a family
there are two children who are studying in schools and both of them have to get one laptop
each, because their school demands that the student should go with the laptop. It is currently
happening like that many of the schools are saying that the student should just like books
and copies students also should have a laptop now the question is the price.
See the laptop here the laptop has to have a value there are different models of laptops,
different configurations of laptops of different prices ok. For a student or his father to
buy a laptop for his child, in such cases he is definitely bothered about the price,
but he is foreseeing it is valuable because it is required valuable means I do not say
its a costly items no; value means its worthy the school is demanding the child needs to
carry a laptop ok. So, first is a value, then he thinks about
it, then he looks at the place. So, worthiness of the value is very very important ok and
people buy products and relations, this is important. I have been always highlighting
that whenever you are trying to sell people by people, people sell to people. Here people
buy products based on their value and also the based on the relationship that you have.
Quite often you must have seen that you always prefer to buy from the same shop or from the
same supplier or same vendor. It is mainly because the other vendors also
believe with the services the products and the services, but only because the relationship
that you build the trust that you built which is going to ensure that if there is any problem
after sales services oriented problems, then this particular person is going to give me
the either free services or he is going to be instantly giving services; that means,
that trust which builds up a relation between the vendor and the customer and if the relationship
between the customer and the vendor or the supplier or the salesperson is very very glued
then its very easy to sell even the costlier items.
Then comes the rule 11. Here the point is do not just talk show the product that you
have, you do not have to always talk about your products you have to show them. So, demonstration
is very very important, because people buy through eyes and ears what is that ears and
eyes? This is being taken care of by the media, in a TV you see a product how many products
that you see in a TV really you have seen in the real scenario, not many.
There are many products which have not even come to the your local shopping malls or shopping
areas, but you are seeing in the TV; that means, now once you keep on seeing it repeatedly,
you almost tend to get a temptation to buy. So, people buy through eyes and ears this
has to be understood. It is because of which see when I am saying do not just talk show
its the media, its a handouts, its an information, its a word of mouth information these are
the key things which you have to not shown with.
Do not demonstrate until you are ready this is a very serious thing I am saying. You will
demonstrate a product once you are really ready with it; means ready in terms of information,
ready in terms of having up sample, in many of the shops like wherever most often I have
found that the mobile shops when you go to a mobile shop you find there are plenty of
mobiles are kept in the showcases, you say that show me this one he will take out from
another box not here what is this? This is a dummy one he is trying to attract you with
many of the dummy mobile sets over there they are coming inside there is nothing its only
the cover ok. I would say that the mobile shops if suppose
you say give me this and he brings out the actual sample from there itself, you have
more trust on them because you are very much skeptic that they are showing so many dummies;
that means, they are not prepared it may so, happen quite often you see that they are showing
you are dummy, they and then you say ok I would like to buy that then you make he will
keep you waiting for some time, go to their godowns or warehouses or to another shop to
get that particular model. This is a very serious offense in terms of
marketing point is do not demonstrate until you are ready with your products; that means,
you should be ready with in all aspects show them show them walk up our model products
this is a very nice way of doing it. That means, you try to show the model and you show
the mockup for say large structures; in architecture we have found you know whenever there is some
kind of residences or group houses which are being you know sold in such cases the entire
towers are under construction, but one or two flats they make it absolutely a model
one. The model totally as if what it would be once it is complete and that is being shown,
and why it is being shown because people cannot really make out what is going to be the final
outcome of the flat for which he is putting in so, much lakhs of rupees now, and the flat
will come 2 years after, its very difficult for any common person to really perceive that
what is going to happen ok. So, for which and for which this particular
mockup is prepared; he enters and you know customers are taken to their mockup or model
flags or something showing, this is how its going to be once finished. So, we have finished
only one unit for you. So, in multi you know say multi types of housing in such cases multiple
types at least one each are made a mockup or model, they say model flats, model flats
are already in demonstration. So, in such cases what you have to do is,
whenever you have the products you try to show some mockups. Quite often you know when
you are trying to sell your product to your investors or venture capitalists ok that is
also selling. In such cases you have to show a demonstration of a mockup the mockup where
either in reduced scale, for big thing mockup to be in the reduced scale or if its a small
one make up one of the same size and then ultimately show this is how the whole thing
is. Because people definitely want to see before they are convinced before they really
buy. Do not hand out product brochures unless requested.
See product brochures are you know very interesting thing. That looks good, it looks very attractive
quite often you know like say you have seen the product brochure which is very interesting
and then when you go really to see that, you will find that the product is not really as
good looking as it looked in the product brochure, because in the brochure many fake pictures
are given. Some pictures of some other country which is being embedded in the housing brochures
quite frequently this particular practice is quite frequent. Somebody is trying to sell
a property in the say one of the eastern part of the country and the pictures of people
who are sitting there near the swimming pool they are of Singapore it happens.
The point is in a product brochure is something which catches your attention fine. This is
ethics and unethics that can be discussed later. But here my point is if suppose you
have a product brochure then do not hand it over to the customer unless it is requested.
It is not a hand bill that somebody’s passing by please look at this please look at this
no. Somebody has to be curious, somebody’s interest
has to be developed you first show them the sample somewhere and then if somebody is more
keen to get all the ideas about the specs and all the specifications all that, then
one has to request can I have the brochure? And then you hand out the brochure and you
only handle the brochure when you are sure now this person is likely to buy; that means,
you are going to check at least make a mental check of the affordability of they put that
particular person, who is seeking or asking for a brochure. So, do not hand out just like
that because brochures are costly. So, the point is you never hand over your
product brochure, but certainly it is very important that you have to hand over brochures.
You have to hand over your Visiting cards, Brochure and CD or visiting cards at least
when you are meeting first time. Here I would like to point out a very serious matter see
quite often a salesperson things that giving a visiting card is the task, its its almost
our duty its a ritual. So, what somebody does is gives a visiting card alright how it is
done? There are different ways of giving visiting card somebody gives it like this, somebody
gives it like this, somebody gives it like this ok somebody you know hands over in such
a manner, suppose at the same time the other person is also giving a card then which hand
you will give the card with and which hand you will take usually our courtesy says that,
the right hand should be used for giving or even taking, but you are mutually giving the
cards and taking the cards this is a very very serious issue people do not know how
to practice it ok. And my experience which I shared with my management
students is this, visiting card first of all you consider this particular visiting card
as here one of the very very rare positions. The customer must earn the privilege of getting
or visiting; yes you make as many prints as you want, but do not keep on spreading wherever
you want do not do that. You know the first thing I would say that give the visiting cards
with a feeling; that means, it should be given with a very strong feeling as if you are almost
partying out you know with another very precious things of yours and the person whom you are
giving you are feeling very very you know privileged to give it to him when you are
asking for the card at the same time also you do the similar manner. What happens for
a salesperson is, he gives the card and he requests for a card in return quite often
you must have seen that the customer says yes yes my I do not have my card now, I have
finished my cards basically he doesnt want to give you.
And if he is taking your card; that means, he wants to keep your card for future references,
but he does not want to share his card to you, but you could not really expect that
a person of such authority does not have the cards in his purse, you cannot expect it.
The moment somebody says I am sorry I do not have the card with me right now, I will give
you some time later, you just simply take it for granted he is not going to give you
the card anyway. He is no in no mood to give you the cards, but however, when you are giving
give it to the feeling. Now interesting thing which I have experienced
myself; whether we are giving a card its in the hand of the customer. Let us say I am
the customer sitting and suppose you are talking you know my experience is I found that while
talking the person is you know he is playing with the cards like this or sometimes I have
found other people are playing with a card like this you know. Because while talking
the hand gestures keep on in involuntary hand gestures with the card in between is this
I have also seen up my card my card being rolled like a cigarette rolled. He is not
aware that he is doing something with my card, and I had been watching at that time he can
understand my my you know feeling that my card which have given him with the respect
with a feeling he is playing with it involuntarily not knowing that he is damaging my cards and
I have seen my cards being rolled like this. And at one point I made a very serious point
I simply said do you require another cards of mine? Then he realized that he spoiled
my card he you know he rather disfigured my card. The point is nobody likes his card to
be misused. I have also seen such cases in one case, I found that one person has given
a card to another customer. The customer while leaving the meeting he left the card on the
table, he did not even put it in his pocket did not care; that means, he did not really
want that required the card, but he asked for it. So, you have to be very very sensitive
about your own visiting card, this visiting card is your identity, this visiting card
is your position. So, in such cases if you find that somebody is folding this, somebody
is folding like this, you know I am seeing that people are doing it. So, whenever you
give a card keep the card at the last do not simply go and hand over the card.
Because you are now living at the mercy of the other person, how he is going to handle
the card quite often I have seen that somebody who takes a card then he reads it that is
a respect; he is showing respect to you by reading your card. He is simply not taking
and putting it on the side or putting it another glass over the table no he is reading it.
And once he reads it then he knows more about you and he reads more about the company, more
about his your credentials and then he appreciates. Say the card visiting card is one of the very
rare thing, I always say whenever you are handing over the card give it as if you are
giving a very costly ceramic plate, a gift to somebody that you are you are a friend
it might fall and break. That is the idea by which if you use your visiting card then
it will be respected otherwise it will be just dumped ok. Either dumped in the dustbin
or dumped over the table which you will go by the you know while sweeping the tables
or else it will be lost somewhere, your visiting card lost its sheen its value ok be very very
careful. That is why I always say that visiting card
you gave only when you are asked for. The brochure you give when you are asked for the
cd will get one if it is asked for do not you know do not suddenly jump into a kind
of activity saying would you like to have my visiting card? To give you a little bit
of respect he will say yes he will take it and dump it ok. So, when you are giving give
it with the feeling, give it to the respect to yourself when you are giving the card to
him with respect, and also with utmost care. This you retrospect your past experiences
with your visiting card and then you will feel you will understand what I am saying.
Once I said this to my management students and they were about say 180 students and out
of that there are about 40 who are professionals, experienced professionals and they confirmed
yes many of their cards have been misused in front of them itself, many of the cards
have been disfigured in front of them itself you know, how do you like that somebody is
bending the cards like this because involuntarily, somebody is looking at you and speaking and
the hand is moving and he does not know what he is fiddling with and he is fiddling with
your card sorry this has to be taken care of very very seriously.
Then rule 12. This particular rule is important. I suggest that do not knock the competition.
Whatever the price you have for your product, whatever competition that you have never knock
the competition knock means knock it out ok. I am not talking about the knocking the door,
I am talking about the knocking out. Make it a point that your you are in the competition
as a marketing person you must be there in the competitions, do not be afraid or do not
fear competitions. Because if you are producing something unless its a very very proprietary
item, that you are only one of the few who are preparing this otherwise this particular
thing is very very critical. So, do not fear competitions competition is a part of your
marketing. Do not fear competitors products or prices.
You are producing your products you are marketing your products another manufacturer will market
their products, you do not fear their prices, you do not think that they are cheaper no
that you do not have to show concern to your clients. Whenever you are thinking about a
competition in such cases, you know competing with the others and you so, show concern to
the clients; that means, you have come here to help him to give him the best product that,
he should deserve worthy of the price that he is paying and earn confidence on of the
clients. If you earn the confidence of the client, then in such cases price sometime
may go at the back end and your relationship, the value highlighted, the USP of your product
that is going to earn you the sales, never take negative feedback of on clients from
competitors. Friends, I am telling you this is one of the
very serious serious thing. Quite often what happens is I will give an example; two medical
representatives from two different medicine companies sitting side by side, if you watch
them waiting in the waiting lobby of the doctor to meet the doctor one after another as per
requirement then you will find that these two are talking like friends, but basically
they are competitors. Each one of them help is representing another different companies
and they are representing you know for different medicines, the medicines may be of the similar
nature ok. One person goes in spends about half an hour,
then he comes out and then why going out gives a negative feedback about the doctor something
like you know saying, this doctor is good, but only thing is he is very rough. He just
put one negative feedback in your ear, you know what happens in such cases is when you
enter, you go with a negative mindset you think that I am now going to meet a doctor,
who is of rough nature never take that seriously never.
Always know that if your other competitor has lost the game while trying to sell the
product, then he is also going to see that he is going to scuttle the ship and go. That
scuttle the ship is he is going to put a negative feedback in your ear when you are going to
go now, never take it. Just take it ok with grace and say ok ok that is very thank you
very much for saying, but brush it out go with a clear mind, open mind, and the positive
mind that you are going to meet a very nice doctor sitting in front of you ok. This is
one thing which every marketing person has to learn .
Some of the other rules is this never take negative feedback on clients from inside,
what I said is never take negative feedbacks on the clients from competitors. Here I am
saying never take negative feedback on the clients from insiders something like. Suppose
you have got an appointment to meet the chairman to talk about your products for presentation
and one of the insider is saying ah see there is no chance you are coming here that this
chairman has his own you know own ah preferred supplier or the vendor. So, it is just a show
that he has given you some time so, he is going to spend the time with you, but do not
trust him and do not even expect that he will get the same basically what has happened is
this is a negative feedback given by the insider to you.
You take it very seriously because he is the insider, but you never know that this insider
is basically supporting the other competitor of yours. If he is supporting the competitor
of yours, then he is going to put you down emotionally or psychologically so, that you
play badly during your interaction with a chairman so, never take that. In every cases
any negative feedback obtained my first solution dear friend is this, you just brush it out
you simply think no it is not true, cannot be true, would not be true and then you go
with the open mind with a fresh mind as if you are going to see a very nice person, if
you go with the same mindset then you will find it will become true that the person is
good and insider or his preferred competitor is trying to negate the whole game and scuttle
the ship ok. It is very important that you identify your
competitors. Still I am saying do not knock the competition you are in the competition
and you have to be in the competition during your marketing you have to be in the competition.
If you be out of the competition there is no no question of discussing over the marketing
because your product is yours ok. So, you identify who are your competitors.
So, whenever you find that you are going to go for a product sale or product marketing,
first you find out who are there in the market and you must have a complete list, you should
not have any hidden list like say or any hidden competitor from the list. That means, you
should not have a situation you land up there you find that there is another competitor
whom you have not heard about, but they are giving a cheaper product and a better product.
No then you are going to lose the game play positive game, always for marketing play positive
games. It is always said that you knock 10 doors; one of the doors will respond to you
positively and ultimately buy your product ok this is important. So, play positive game.
Do not leave the ground when the competitors around the customer; this is another very
very sincere suggestion friends keep it at the back of your mind. If suppose there are
five competitors who have come to the clients at the similar time, and you have done your
job; say you had the appointment, the first appointment there are four more who are good
to go, my suggestion is that you be around there till the fifth one has gone in and come
out. Never leave the ground because if you leave
the ground you do not know what the other competitors; any of the competitors will say
negative about you and cut your scope ok. If you be around nobody will take have the
courage to do that or nobody will have the opportunity to do that. So, never leave the
ground till you have seen that everybody has got their chance to meet the client, everybody
has tried to show their products, all of them come back come out and then you become friends
and then ultimately leave the playground, my point is never leave it that way.
So, I always say do not give walk over. Walk over is the game that in which two teams in
the final one team does not want to play, they say walk over we give the walk over.
The other party without even playing wins the final; this is absolutely not acceptable
in the marketing scenario. In the marketing scenario walk over is not to be given unless
its a real real compulsion I will tell you where walk over may be all right. Say suppose
there is a delivery expected date by which date you have to give and you check with your
production team. The production team will not be ready to give
this particular product by that delivery date in such cases you simply can give walk over,
but if you are ready with your product why should he give walk over? Why should you really
take negative feedback some of the other customers? From your competitors and then give away most
common mistakes done by the marketing people is through this.
There are certain quick action forward I will tell you. If you are convinced and confident
about your product, about your price, about your competitors, about your market, about
your customer, then go to the market my suggestion is go to the market and play the marketing
game; you should play when you are confident yes I am sure about my product, I am sure
what I am going to sell and how I am good you sell what is his worth, what is what are
the customers, and who are the competitors, then go and play in the market. Are you aware
of the vices of 3 C I said earlier? In the beginning sometime I have said about this
3C; convinced, confused and corrupt. Many of the marketing people smart, extra smart,
hyperactive marketing people think, that if they will first win by convincing. If they
find no, the client is a tough person then he they will try to first confuse the client
and then make a sale. And if suppose is they cannot succeed then they will corrupt the
customer and ultimately sell which way they will corrupt there are n number of ways.
My suggestion is dear friend know for gods sake do not follow the above 3C s do not you
do not have to you know what you should do is follow the virtues of 3 C not the vices
of this. Convince yes you have to convince about your product, then you conclude. The
whole process and then you close the deal and by closing the deal you have sold the
product ok. So, convince, conclude and close other 3C s which are the virtues in marketing
I have talked about the marketing management, there are so, many aspects in it, it is related
to your product, related to the price, related to your relationship, your personal skill.
If I conclude the whole thing and make an assimilation of whatever you have learned
so far, it is basically you will see the soft skill which is going to make you win what
is the final target? Your target is that you are now closing the sell that is your target.
So, if you really go through all the aspects that I have discussed in the soft skill till
this particular marketing management, then you will find that every time you sales or
closing the sales or the success of closing the sales all depends on you as a person.
Customers are different, products are different, markets are different, prices are different,
value are different, but you are a marketing person. Today you are selling this product
tomorrow you are going to sell another product, third day you are going to sell another product,
it all depends that mean which company you are shifting from one to another ok.
The point is in this always think that your personality, your poise, your all the soft
skills that is going to be the most valuable thing in your marketing management. It is
because of this, I have added this negotiation of the marketing management along with the
soft skills. Negotiation is a process by which you will be interacting and then ultimately
winning over the situation and closing the deal, but negotiation and the marketing almost
will be side by side, you do the marketing and then it calls for a negotiation. While
doing the negotiation you are still doing the marketing.
So, the point is you do not have to really disintegrate them to understand it, but one
thing is very sure your soft skill is going to be your real assets. So, please try to
be a soft skill experts. You do not have to be expert in all those kind of soft skills
that I have said its impossible as well ok, but there are many many things which are very
very required in this. So, this particular field here I am concluding.
I will then go to a very brief discussion on another very soft skill, which people do
not really consider as a soft skill, but I consider yes about everything there is one
soft skill that is the time management skill is very very important. I will discuss in
my next lecture on this time management skill. Thank you .

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