Folding Nib

What are the strategies by which an entrepreneur can successfully market his products ?

During the course of one discussion forum the main agenda was the following: “How to have a new look for the existing products and achieve excellence in marketing ?”

Various ideas were presented by the people who participated in the discussion forum. The following are the contents of the discussion which took place in the forum:

In fact people need products to meet their basic needs and educational needs and all products required by any person are already available in the market. The above needs are fulfilled by means of products which are already available in the market. No new products are created except a very few

In such a case, how to market the existing products in a better way in this competitive market ?

The existing product can be modified, changed or  remodeled so that the customer can have a relook over  the fresh product in his hand. This is like the  saying “the old wine in a new bottle

The winning strategy is to create an awakening or initiative in the minds of the consumer to buy the product.

Initially a pencil was introduced as an writing instrument. Subsequently, the ink pen  became the only writing instrument and the manufacturers invented several kinds of ink pens to create the marketability of the product. Even though several models were available in the market, the basic structure was the same. A tubular container to keep the ink inside safely; a small pointed nib to reproduce the figures in the paper with a  small hole in the nib to allow reasonable quantity of  ink available in the container to pass through its tip in the sheet of paper and a cover to secure the nib and the container

People started inventing a novel writing instruments keeping the above basic requirements in their minds. Ball pens replaced ink pens; Gel pens replaced ball pens. Despite several models  available in the market in the case of writing instruments, unless and otherwise new models  or new inventions are created without sacrificing the basic requirements, the manufacturers of the writing instruments can hardly survive in the market. The research departments will be working out round the clock ideas to find out a new product which would create a market niche.

The above principle holds good for all products required by the people starting from the food they consume, the dresses they wear, the houses they stay in  etc. etc.

Tee shirts replaced conventional shirts

Jeans pants replaced conventional pants

Blouses ladies wear started appearing with different varieties of neck designs to attract the consumers

Hair oil, tooth powder, shamboo, cleaning oil etc. are made available  now in small sachets instead of big glass container or  plastic container at an affordable price with the required quantity

Alumunium folded dining table with two seaters on both sides of the table with facilities to accommodate two persons in each side so that they can have their food conveniently at any place especially during any outdoor activities by simply unfolding the table under a tree. The product is available in such a manner that it can be folded and kept in a car in the carriage cabin or can be taken by a pillion rider in a two wheeler

There are a large number of live examples available which the entrepreneurs should necessarily study and unless and otherwise they make available any new product or an old product in a new design, they cannot market their  products in the present competitive environment

During the training programmes, the trainers should bear it in their minds the abovementioned points and should create an awareness in the minds of the trainees about the market perception;  market requirements and market capitalization.

About the Author

A. Gauri Sankar, a retired bank official from a nationalised bank in India. He is a trainer for banking subjects and he is also a trainer for soft skills. He has served in the bank for more than 39 years, He is a writer, orator and communicator. His qualifications are: M B A; BSc; CAIIB. He is a lead auditor for ISO 9001: 2000.

He can be contacted at: gausan51@gmail.com and gausanchennai@gmail.com

and his articles can be viewed at www.gaurisankars@blogspot.com

Folding saw