Gonegosyo marketing-ardy-gensan2010
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Ardy Roberto and Go Negosyo's Negosem caravan went to the city of Tuna and Manny Pacquiao. This time Ardy presented a talk on Entrepreneurial Marketing.
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Gonegosyo marketing-ardy-gensan2010
- 1. Marketing Secrets of SuccessfulEntrepreneurs General Santos City May 25, 2010 Ardy Roberto Co-Founder, Salt & Light Ventures, Inc Inspire Leadership Consultancy, Inc. Entrep10 Awardee, Microsoft Most Inspiring Entrepreneur Co-Columnist, Philippine Daily Inquirer’s MarketingRx Author, S4, Heart of Healing, Buhayna Hindi Bitin www.saltandlight.ph
- 2. Diagnostic Test: Stare for a few seconds at each of the following patterns. Are the patterns moving? Or are they perfectly still??
- 6. The patterns are used to test the level of stress a person can handle. The slower the pictures move, the better your ability of handling stress. Alleged criminals that were tested see them spinning around madly. However, senior citizens and kids see them standing still. None of these images are animated - they are perfectly still. How did you do with the test??
- 7. Tale of two perspectives www.saltandlight.ph
- 8. Started 1894 Czechoslovakia Tomas Bata Now: 50 countries, Production: 26 countries Has sold over 14 billion pairs of shoes 1939 - Bata Shoe Co, Kenya Bata Kenya Now with over 80 stores in Kenya, leading retailer
- 9. EVERY FRIDAY – PHIL DAILY INQUIRER BUSINESS SECTION 1
- 10. Philip Kotler with Dr Ned Roberto
- 11. Mentor. Dr Ned – AIM Professor Encourager “You don’t need an MBA from AIM, you’re an entrepreneur!” Stories of “SMEs” like... Tony, Cecilio, Amable
- 12. Basics of marketing. 4 Ps of marketing1 -Product2 - Pricing3- Promotions(A&P) – using Guerrilla Mktg4- Place (distribution) www.saltandlight.ph
- 14. Why would your market want to buy your product? (Motivation?)
- 15. What problem does it solve better than competition? What benefits does it provide?www.saltandlight.ph
- 17. How much will they be willing to pay for your product? (cheaper/same/more)www.saltandlight.ph
- 20. By province, Key Cities, etc?
- 21. WWW (internet) ?
- 22. MICRO
- 23. Inside mall, food court, schools, offices?
- 24. Facebook, Multiply, Friendster, Google?www.saltandlight.ph
- 25. China job fair
- 27. Differentiate or Die! - Al Ries www.saltandlight.ph
- 28. “But everything that has been invented has been invented already!”
- 29. “DIFFERENTIATE = COPYING (with a slight difference)”- Dean PaxLapid
- 31. FORM – C2 (iced tea in pet bottle)
- 32. MAGNIFY
- 33. Enlarge (LCD TVs), Monster Burgers
- 34. MINIFY
- 35. Cars (Chery), Netbooks, Apple (iPod mini, iPad)
- 36. SUBSTITUTE
- 37. Electric bikes, Human Nature (organic)www.saltandlight.ph
- 38. Al Ries’ 22 Immutable Laws of Marketing:#2 -The Law of the Category“If you can’t be first in a category, change the nature of the category or set up a new category you can be first in.”
- 39. * Breadtalk (Singapore)1st in new category: Experiential buying of bread.
- 40. * Breadtalk (Singapore)Started in 2000 by George Quek when he was 46Today does $123M in sales 30+ different countriesExperiential buying of bread.
- 41. Insect Inter (Thailand). #1 in Insect-fastfood category
- 43. Over 15M Baht in sales @ yearServes hygenic insects – Crispy Crickets, Deep Fried coco-worms Grasshopper salad Cricket tempura
- 44. Insect Inter (Thailand). #1 in Insect-fastfood category Slogan: “Never mind the look, it tastes great“founder – SatapolPolprapas
- 46. All-you-can-eat Rice in Mang Inasal
- 47. Category: First and #1 in Budget Chicken Inasalwith Unlimited Rice Founder: Edgar InjapSia Iloilo City (2003) Now over 150 stores Entrep10 Awardee in 2009
- 49. …BUT WILL THE MARKET WANT to buy your new product? Will there be a demand for it? Invention (no or little market) Innovation (market demand larger than supply; e.g. iPad) www.saltandlight.ph
- 51. Read Part 2: Mastering Opportunities To get ideas Stories of ... Splash – Hortaleza Buhi Worldwide – Live Fish Binalot – Rommel Juan www.saltandlight.ph
- 53. can leave windows open
- 54. no noise or draft
- 57. DIY market
- 58. Sewing machines sponsored by SingerTo get ideas Subscribe to online newsletters like Springwise.com www.saltandlight.ph
- 59. Ways to expand your market What was Listerine originally for? www.saltandlight.ph
- 60. Ways to expand your market What was Listerine originally for? www.saltandlight.ph
- 61. Ways to expand your market 1. Find a new use for your product – Ad in 1952e.g. Listerine can also cure dandruff by washing hair 2x a day… www.saltandlight.ph
- 62. Ways to expand your market Then was finally launched as cure for “Halitosis” www.saltandlight.ph
- 63. Targeted executives and salesmen who talked a lot. Result: revived “old-dead” product www.saltandlight.ph
- 64. Targeted executives and salesmen who talked a lot. www.saltandlight.ph
- 65. Result: revived “old-dead” product www.saltandlight.ph
- 67. a) PhilMorris CEO. b) Church marketing44 Marketing by the Book (c) Ardy Roberto 2008
- 68. 45 Marketing by the Book (c) Ardy Roberto 2008 “An Atheist Marketing Jesus” – Church Marketing Sucks blog
- 69. PROMOTIONS Advertising PR / Publicity “How do you communicate your USP or brand positioning—without the big budgets of MNCs?” www.saltandlight.ph
- 70. PROMOTIONS How will your chosen market become aware of your product or service? www.saltandlight.ph
- 72. TV
- 74. PROMOTIONS Digital marketing tri-media www.saltandlight.ph
- 75. PROMOTIONS Digital marketing tri-media www.saltandlight.ph
- 76. PROMOTIONS Blogger Anton Diaz used FB to promote – Ultimate Taste Test event - Over 1,000 people responded and bought tickets www.saltandlight.ph
- 77. OR USE Guerrilla Marketing! Low cost…
- 78. PROMOTIONS – Guerrilla Marketing Guerrilla Marketing Definition: An unconventional, low-cost way of performing marketing activities. +uses a combination of cheap or free unconventional, non-traditional media or traditional media purchased or negotiated via barter or ex-deal +invest time, energy, imagination and knowledge instead +profits, not sales, as the main yardstick. ARE YOU USING GUERRILLA MARKETING TACTICS? .
- 79. Guerrilla Marketing was coined and defined by Jay Conrad Levinson in his 1983 book Guerrilla Marketing. The term has since entered the popular vocabulary and marketing textbooks. Over 14 million copies sold worldwide (best-selling marketing series). Translated in over 1 dozen languages.
- 80. GUERRILLA MARKETING Over 200low cost/free Guerrilla Marketing Weapons. Here are my 5 favorites
- 81. GUERRILLA MARKETING Weapons Check list [ ] Q? – How many of these weapons are you using in your business?
- 82. Weapon #1: [ ] Database / list [ ] A list of customers with relevant data. [ ] Purpose – to communicate relevant offers “It is 6 x more expensive to sell to a new prospect than to an old customer.”
- 83. How do you start a database of customers? 1. Registrations – e.g. Hotel – upon checking in 2. During Ordering – Pizza chain (Yellow Cab – keeps your info to avoid repetition; customer convenience) 3. Get business cards – use business card reader to encode (restaurants use fishbowl for raffles) 4. Warranty cards, invoices, receipts, raffle entries, webstie, etc …then encode and organize it. No need for IT guy. Even admin or sec can do it. Very low cost!
- 86. – cel and email
- 87. Microsoft CRM
- 88. Web online subscriptions – ConconOr your celphone!
- 89. Do you have Guerrilla Weapon #1: Database/List? [ ] Yes [ ] No/Not yet
- 90. Guerrilla Weapon # 2: [ ] Email “Sending product information and regular updates is a customer service.” – Drayton Bird
- 91. Guerrilla Weapon # 2: [ ] Email “Sending product information and regular updates is a customer service.” – Drayton Bird
- 92. Guerrilla Weapon # 2: Email Benefits/Advantages: [ ] Inexpensive [ ] Fast [ ] “Dummy proof” [ ] Personal “media” Latest stats: 2008 Nielsen survey – 20% of population now have internet access/email addys =16 million pinoys. 4 out of 5 users: aged under 29. Internet usage: email and chatting
- 93. Guerrilla Weapon # 2: Email Downside/Disadvantages: [ ] Inexpensive [ ] Fast [ ] “Dummy proof” [ ] Personal “media”
- 94. Does and Dont’s: Be careful! Your customer’s name is his treasure. Don’t mess it up when you personalize.
- 95. Do personalize on subject and letter. My name is in the subject line and letter. Very personal.
- 96. Do: Give option to unsubscribe or opt-out 68
- 97. Examples of the good, bad and ugly. Don’t divulge your distribution list Do keep your list private. Bcc!
- 99. Instead of attachments – send html emailers 71
- 100. 72
- 101. 73
- 102. Email marketing example : Or just plain text with links to your website Producing, Organizing and Promoting Life Changing Events (c) Ardy Roberto 2008 74
- 103. 75
- 104. Ateneo Graduation rites – prominent links 76
- 105. Keep on using the P.S. to repeat your offer. It’s still the most read part of the letter
- 106. Summary of some practical email marketing and advertising copy tips: [ ] Opt-in (Permission based) [ ] Personalize [ ] Use BCC (keep your dbase confidential!) [ ]Check before sending [ ] Use subject line to increase stats of people opening your email (don’t leave it empty!)
- 107. Some practical email marketing and advertising copy tips (cont.) [ ] Use links to website [ ] Use a P.S to repeat your offer (still the most read part of the letter) [ ] Highlight benefits [ ] Testimonials increase response [ ] Test a new email letter or offer before rolling out to everyone.
- 108. Are you using Guerrilla Weapon #2: Email? [ ] Yes [ ] No/Not yet
- 109. Guerrilla Weapon # 3: [ ] Mobile marketing SMS Blast Text coupons Blue tooth / GPRS marketing
- 110. Guerrilla Weapon # 3 Mobile marketing Advantages: 1. Personal and Deliverable- Celphone is almost always with the person 2. Inexpensive (vs. Printed coupons/brochures) e.g. P.70 via Globe TxtConnect 3. Higher response rates (see CH8 of MarketingRx for Entrepreneurs) 10-30% vs 1-2% for email or direct mail.
- 111. Guerrilla Weapon # 3 Mobile marketing Sample SMS marketing plan: 1. Build Celphone list of customers 2. Create your offer (free or discount/sale) and keep within 160 characters 3. Launch! (Timing: e.g. If Resto, send between 11.30am and 12noon or 5-6pm) 4. Measure. Track down responses and do ROI.
- 112. Singapore Can Lah! SINGAPORE GOV’T CAMPAIGN SMS Singapore Govt WHO declared Singapore SARS Free Objectives SMS info campaign to disseminate good news SARS free party invite 1. CONVERSATION STARTERS 84
- 116. Advertisement thru Mobile Media
- 117. Main Objectives:
- 119. Drive Sales thru periodic promotional activities MIAMI HEAT RETIRE JORDAN'S No. 23 Michael Jordan showd little emotion as he stared @ a hilight video of hs career on d giant tv screen. He watchd d hi-flying,
- 127. Help Heal With words of HOPE www.saltandlight.ph
- 128. FREE! Text your name, company and email address to me: +0920-9519618 Get FREE copy of this presentation. + First 21 who text also get FREE copy (Send text only after my presentation.) 22ndtexter onwards gets free ebook
- 129. Are you using Guerrilla Weapon #3: SMS/Mobile Marketing? [ ] Yes [ ] No/Not yet
- 130. Guerrilla Weapon # 4: [ ] Direct Mail Cases: Tom Peters Seminar
- 131. Case Study: The Tom Peters Seminar Client – IBM Partner – BCD Pinpoint Event Goal – Gather top CEOs Challenge – 6 weeks to put together Tom Peters is the author of In Search of Excellence (1980s).
- 133. Had to be more than just a brochure or an ordinary invite
- 134. Cost: +- P350 per mailer - handmade
- 135. Paid
- 138. Sold P22,000 seats to target crowd of CEOs
- 139. Received “aliw” calls from CEOs (except banker CEOs)
- 140. Awards: Best Creative work in DMAsia, and Best use of Medium iCongressJajo Quintos, CEO, IBM, Joey Cuisia, CEO, Philam, Tessie Sy Coson, CEO/COO, SM, Fernando Zobel, Ayala Corp. Etc.
- 142. Case Study:BCD Pinpoint - Philippine Animal Welfare Society Key Challenge: using as little cash as possible, raise funds for PAWS to save stray dogs (in a country where people catch dogs to eat them). Results: 55% response from the mail-out donations amounting to US$ 3,220 ROI of 26,833.33%
- 143. Are you using Guerrilla Weapon #4: Direct Mail? [ ] Yes [ ] No/Not yet
- 144. Guerrilla Weapon # 5: [ ] Barter/ Ex-deal Barter = big savings on marketing budget Case study: John Maxwell Leadership Summit
- 145. Case Study: Largest ever leadership seminar in the Philippines John Maxwell 2004 BAHG: 11,500 people in two venues Araneta: 9,000 + PICC: 2,500 Massive Guerrilla Marketing action
- 146. Q: Could we fill up PICC and Araneta Coliseum? Case Study: Simple Guerrilla Market Research: How many Maxwell titles have been sold in the Philippines? In 2003 – 100,000 copies! Decision – Go! Producing, Organizing and Promoting Life Changing Events (c) Ardy Roberto 2008 107
- 147. Print Ads in PDI, BusinessWorld, etc. Print ad budget: P4.5Million Cost: P 0.00 (all sponsored /barter) 108
- 148. Case study: John Maxwell Live 2004 Billboards at South Superhighway and EDSA for 45 days Cost: Zero c/o sponsor
- 149. Postcards : 10,000+ pcs Cost: P 0.00 (sponsored) Producing, Organizing and Promoting Life Changing Events (c) Ardy Roberto 2008 110
- 150. Raffy David of Pilipinas Teleserv GM Weapon: FUSION Marketing Delivery of Seminar Tickets
- 152. DFA Pasay City Center
- 153. 3,500 applicants per day
- 156. Phone
- 157. Web
- 158. SMS
- 159. Instant capacity
- 160. Low investment in relation to capacity
- 161. Quick deployment
- 165. Are you using Guerrilla Weapon #5: Barter/Ex-Deal? [ ] Yes [ ] No/Not yet
- 166. Guerrilla Weapon # 6: [ ] Customer Relationship Management (CRM) When was the last time you had lunch or visited your top 12 clients? Or called just to say “thank you!” Benefits: No overhead, low cost
- 167. 120
- 169. 806,038 persons from Aparri to Jolo came forward to Pepsi Cola office to claim the P1M prize with the “winning” 349 Pepsi caps they were keeping
- 170. 1992 coalition filed $400M class suit against Pepsi in New York
- 171. A "computer glitch" was blamed for "349" being announced as the winning number
- 172. Whose mistake was it?Marketing by the Book (c) Ardy Roberto 2008
- 173. PRICING Pricing is a marketing strategy How do you price your products or services? Charge what we can get away with (or cost + maximum profit) -- or Find out what the market can afford and work back... www.saltandlight.ph
- 174. PRICING Overview: + Case: Ford Model T, Cebu Pacific, Lucky Me! - Case: TV Shopping experience (+Packaging, +Promotions) 123 Marketing by the Book (c) Ardy Roberto 2008
- 175. Lucky Me! At P3.50 to P5.00 has become staple in homes across SEC markets A-E. DE market rely on it as daily sustenance Monde Nissin has not increased price in 4 years although price of wheat has increased by 200% Owner feels social responsibility to keep price low 124 Marketing by the Book (c) Ardy Roberto 2008
- 176. 125 Best practice in CSR pricing: Ford “Set the price where the market wants it. Then let those in purchasing, finance and manufacturing manage costs so that you can sell at the price that the market wants.” ~ Henry Ford Result: Model T democratized car ownership from 1909-1927 (more than 15 million cars sold!) Marketing by the Book (c) Ardy Roberto 2008 Model T Prices 1909 :US$1850; 1913: $550, 1915: $440
- 177. "I will build a car for the great multitude. It will be large enough for the family, but small enough for the individual to run and care for. It will be constructed of the best materials, by the best men to be hired, after the simplest designs that modern engineering can devise. But it will be low in price that no man making a good salary will be unable to own one--and enjoy with his family the blessing of hours of pleasure in God's great open spaces.“ - Henry Ford in 1908/9(Source: Wikipedia) Marketing by the Book (c) Ardy Roberto 2008 126
- 178. Marketing by the Book (c) Ardy Roberto 2008 127 Case study: Cebu Pacific’s P1 price promos Democratization of air travel in Philippines through socially responsible pricing “Now every Juan can fly”
- 179. “People curse the man who hoards grain, but blessing crowns him who is willing to sell.” – Proverbs 11:26 128 Marketing by the Book (c) Ardy Roberto 2008
- 180. My TV shopping experience... 129 Marketing by the Book (c) Ardy Roberto 2008
- 181. 130 Value Vision Price per table: P1,995 or P1,331.66 (if you buy 3) ACE Hardware Price@ table: P 750.00! Marketing by the Book (c) Ardy Roberto 2008
- 182. Formula of short-sighted entrepreneur out for quick bucks S = P x Q Sales = Price x Quantity Formula of long-sighted entrepreneur out for quick bucks S = P x Q x F Sales = Price x Quantity x Frequency 131 Marketing by the Book (c) Ardy Roberto 2008
- 183. WHAT’S THE KEY? Sales = Price x Quantity x Frequency FREQUENCY! Repeat Customers - Sukis! (or else you keep on looking for new customers to replace those who tried and gave up on you…) 132 Marketing by the Book (c) Ardy Roberto 2008
- 184. Innovate!*Ways to expand your market3. Look for less customers!
- 185. Segment Market Size: The Case of the Vitamins Market Segment Market Size = (segment population size) x (usage frequency) x (price paid)
- 186. For example, target Metro Manila: Class AB: (5%) x (365 days x 2) x (P50) = how much segment market size? Class DE: (74%) x (3 days x 2/yr) x (P7) = how much segment market size?
- 187. Conclusion: In population size: Which segment is larger? By how much? In market size: Which segment is larger? By how much?
- 188. World’s most expensive wedding – US$60m – almost P350m wedding held in paris last June – the bill was footed by the billionaire Indian father of the groom. US$60 MILLION WEDDING
- 189. Wine menu at a Greenbelt2 restaurant2002 Crane Lake Merlot : P1,2002000 Chateau Mouton Rothschild: P84,380(marketed as the ‘wine of the century’)1997 Harlan Estate Cabernet: P138,0941996 Screaming Eagle Cabernet: P195,705
- 190. Space travel. Virgin Air. Richard Branson is going into space tourism.Ticket price: US$20M++Why would someone pay US$20M++ to go into space or around the milky way?
- 191. PLACE Distribution “Where can your product be found or bought?” www.saltandlight.ph
- 193. SLERS141 Marketing by the Book (c) Ardy Roberto 2008
- 194. PLACE: Alternative distribution channels – Direct Selling Case Study: MundoCristao Brazil www.saltandlight.ph
- 195. www.saltandlight.ph
- 196. “Thanks to the creative marketing of MundoCristao publishers (MC), Brazilian women are ordering their cosmetics and quality Christian books and Bibles all via the Avon catalog. In only two years, women have purchased more than 1.2 million MC books and bibles via Avon.”"Go where the readers are," exhorted ClaudineiFranzini, marketing director of MC www.saltandlight.ph
- 197. E-store / E-commerce Multiply is used by over 30,000 SMEs in the Philippines www.saltandlight.ph
- 198. Fresh Direct: New York City online grocer does US$215M in sales per year! www.saltandlight.ph
- 199. Bring the store to your customers (City Delivery etc) www.saltandlight.ph
- 200. Bring the store to your customers (Quick Delivery etc) www.saltandlight.ph
- 201. PERSISTENCE “Matiramatibay...” How is your Adversity Quotient? www.saltandlight.ph
- 202. Exciting Times Crisis, Cry-sis. Syn. – Adventure Adventurer, French = Entrepreneur! Guerrilla entrepreneurs learn and earn from these crises, problems and adventures!
- 203. Adventures/crises develop your AQAdversity Quotient. Gives you stories to share
- 204. An AQ Story / Adventure Early 90s - 2X Swindled… Mid 90s - Bankrupt… 2000 - Almost lost wife to lupus (almost widower) ; went bankrupt again AQ Developed: 2001 > Started 4 different businesses Recognized as 1 of EntrepTop10 in ’06* Enjoying new adventures…
- 205. PRAYER Many are the plans in a man’s heart but it’s the Lord’s purpose that prevails... www.saltandlight.ph
- 206. 154 Raising Funds by Producing, Organizing and Promoting Events (c) Ardy Roberto 2008
- 207. How Salt & Light Ventures became #1 niche seminar producer and promoter We started small and dreamed BIG
- 208. Start up: Salt & Light Ventures 2000 How do I grow this business?
- 209. Start small: 15 to 50 people workshops How do I grow this business?
- 210. Then… 100 to 250 people seminars
- 211. Then… 300 to 500 to 1,000 people conferences
- 212. Okay – let’s go! Think BIG: Araneta Coliseum and PICC
- 213. 10 years after the “most successful failure” concert business in CDO…a seminar with 14,000 people!
- 214. PICC: 4,000 people Total for 2 days: 18,000 people
- 217. My “Miracle” Patient @ Sea of Galilee Miracle: From bankrupt to giving back www.saltandlight.ph
- 218. “Everyone wants success, but most people lack two very important qualities: persistence and patience.” - Denis Waitley
- 219. So follow up! 80% of orders are written during or after the 5th call…butonly 10% of salespeople persist to call or follow up 5 times …and only 2% persist up to 7 times. – S4 Success Secrets of Sales Superstars
- 220. “God has a purpose behind every problem. …He uses circumstances to develop our character.” - Rick Warren, The Purpose Driven Life
- 221. “Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.” - Helen Keller
- 222. Daghansalamat! From the Roberto family. +0920-9519618 ardy@saltandlight.ph www.Saltandlight.ph www.saltandlight.ph
Notas do Editor
- Bata is a large, family owned shoe company.It was started in 1894 in Zlín by Mr.Tomas Bata. It is currently headquartered in Lausanne, Switzerland , and operates 4 business units worldwide : Bata Europe, Bata Emerging Markets, Bata Branded Business and Bata North America.Bata has a retail presence in over 50 countries and production facilities in 26 countries. In its history, the company has sold more than 14 billion pairs of shoes,servingatleast 1 million customers every day.Bata Shoe Company Kenya Ltd was started in 1939. It is the leading shoe manufacturer and retailer in Kenya with over 80 stores around the country.The Bata retail chain also includes ladies handbags,school and travelling bags and the Athlete's World sports shoes offering the latest in world-renowned sports and leisure brands such as Power.
- Founded by George Quek, a former art student and food court concessionaire (for 11 years in Taiwan and Singapore) in Singapore in 2000. A rags to riches story. Today does $123M in sales in 30+ different countries including the Philippines.IT IS the classic rags-to-riches story. Only this one involves the success of a ‘Uniquely Singapore’ business. You would have heard of BreadTalk that is most famed for its cream-filled buns topped with pork floss.Touted as Singapore’s first “bread boutique”, BreadTalk has made the humdrum task of buying bread into the most enjoyable experience for consumers.BreadTalk Group Limited’s founder and chairman, Mr George Quek, 51, grew up in a wooden attap hut in Hougang.He was the second child in a family of four sons.He recalled: “My dad was a vegetable farmer and later a seaman; my mum was a housewife. Both my parents were illiterate. We rented the hut at $10 a month then. Times were tough.”Poverty made him prudent about money.“I was given 20 cents a day when I went to school. With the money, I could take a bus, 5 cents each way or I could save up to eat a bowl of noodles for 20 cents. I couldn’t go hungry so I chose to walk 45 minutes to school and another 45 minutes back, and eat a bowl of noodles instead,” said Mr Quek.As he was good at drawing, he drew art pieces and sold them to his friends. “That way, I earned money to buy my own food,” he recounted.Some rags-to-riches tales tell of clever kids who did well in school. Well, not Mr Quek, an old boy of Xin Min Secondary School.“I did poorly in school and had more red than blue marks on my report card. Studying was just not my forte. My interests lay in leisurely pursuits. My creativity ignited a passion for artistic pursuits. It led me to enter art competitions where I won some awards and trophies. I had always been fascinated and intrigued by the rich Chinese culture and heritage,” he recalled.He added, “After I completed Secondary Four, I went to the now defunct Singapore Art Academy. After graduation, I joined the army. Following that, I went to Taiwan and stayed there for 11 years.”He was in the food business in Taiwan, where he sold dragon candy in 1982. Subsequently, he moved into the foodcourt business in 1993.The man who has been nicknamed Foodcourt King related: “It became apparent after much observation that there is still much room to grow in the confectionary business within Asia. I stepped down from Food Junction and invested $500,000 with a founding member to start BreadTalk in July 2000.”Though I was confident of my ability based on my experience in the food business in Taiwan, I never imagined that we would be able to expand so rapidly. In less than seven years, we made about $100 million in sales turnover.”BreadTalk is now all over the region, including Bangkok, Dubai, Hong Kong, and China.BreakTalk’s international marketsAfter the initial year, the company had plans to break new frontiersin international markets. “We worked to develop BreadTalk as a global brand, leading the trend to break into international markets,” said Mr Quek.To date, BreadTalk has 32 outlets in Singapore and 139 others in Beijing, Bangkok, Kuala Lumpur and Shanghai, and franchises in Dubai, Hong Kong, Indonesia,Kuwait, Nanjing, the Philippines, Shenzhen and Taiwan. He has also established three foodcourts in Singapore, 17 in China and one in Hong Kong, and six restaurant concepts in Singapore.Wife Katherine is deputy chairman of BreadTalkIn September, he took Food Republic to Malaysia.The owner of BreadTalk also owns Din Tai Fung restaurants, Food Republic food malls and has recently added Toast Box to the family.Despite the initial setback of not performing well in school, Mr Quek has beaten the odds and was conferred with an honorary business doctorate for his entrepreneurial spirit and career successby Wisconsin International University two years after launching BreadTalk.“To me, it was akin to a report card for my career. It represented a milestone, a personal achievement in my life. I celebrated this with my parents, family, friends, colleagues, landlords and even contractors who had helped me make this possible,” he remarked.Mr Quek acknowledged that he owes his entrepreneurial streak to his parents.“My parents were quite lenient. We were given free reign to do whatever we pleased, as long as we did it with a clear conscience. This ultimately nurtured the entrepreneurial spirit in me as I dared to venture and try new things,” he explained. Mr Quek added that his parents also played an instrumental role in teaching him the importance of hard work. “They inculcated in me the codes of behaviour that enabled me to achieve the success that I have attained today. If you come across as a caring, cooperative, reliable, trustworthy and respectful person, people will feel that you are someone they can trust. They will then give you opportunities that may open new doors for you. This was what happened to me - I was fortunate to have met my benefactors who are my friends, tenants, landlords, working partner at Food Republic,” pointed out Mr Quek.What his parents taught him about frugality, he is passing it onto his three children. “My eldest daughter, Weirou, is 14 and my two sons, Jonathan is 12 and Matthew is 10. I give each of my children $20 every week. I would query them if they require more money. They have a piggy bank each. Just the other day, my son showed me that he had saved about $300,” he shared. Family finances are left to his wife, Katherine, who created BreadTalk’s signature bun – ‘Flosss’.From as low as 19.5 cents, BreadTalk shares surged to as high as 69 cents.Strong returnsAt work, Mr Quek manages the finances of the company. “I would invest in things that generate multiple returns for shareholdersand ROI (return on investment),” he said. Both he and his wife hold a 52 per cent stake in BreadTalk.The group’s philosophy is to be transparent with shareholders.“We communicate with them via email, sharing ideas on how we can further generate value for them,” noted Mr Quek.As for his employees, he urged them to focus on creativity and learning. “We let them try out and make mistakes as long as they learn from their mistakes. I employ people of good character, who are honest and trustworthy,” added Mr Quek.Today, the group has around 2,000 employees worldwide, of whom 800 are based in Singapore.He considers his customers as bosses. “We strive not only forcustomer satisfaction but customer delight, time and time again. Whichever of our outlets you visit, you are assured of fresh, qualityfood, comfortable ambience, good service and clean environment,” stressed Mr Quek, who won last year's Ernst & Young Emerging Entrepreneur Award.Mr Quek has this piece of advice for the younger generation: “If you have little to lose, you can afford to try, venture out and be entrepreneurial. The world is very dynamic - you need to be flexible and adapt to changing circumstances. Learning is a continual process. If you stop learning, you will be left behind in the race of life.” Yes, one never stops learning. And if you are not that young, you can still take this advice to mean that one is never too old to learn.
- Founded by George Quek, a former art student and food court concessionaire (for 11 years in Taiwan and Singapore) in Singapore in 2000. A rags to riches story. Today does $123M in sales in 30+ different countries including the Philippines.IT IS the classic rags-to-riches story. Only this one involves the success of a ‘Uniquely Singapore’ business. You would have heard of BreadTalk that is most famed for its cream-filled buns topped with pork floss.Touted as Singapore’s first “bread boutique”, BreadTalk has made the humdrum task of buying bread into the most enjoyable experience for consumers.BreadTalk Group Limited’s founder and chairman, Mr George Quek, 51, grew up in a wooden attap hut in Hougang.He was the second child in a family of four sons.He recalled: “My dad was a vegetable farmer and later a seaman; my mum was a housewife. Both my parents were illiterate. We rented the hut at $10 a month then. Times were tough.”Poverty made him prudent about money.“I was given 20 cents a day when I went to school. With the money, I could take a bus, 5 cents each way or I could save up to eat a bowl of noodles for 20 cents. I couldn’t go hungry so I chose to walk 45 minutes to school and another 45 minutes back, and eat a bowl of noodles instead,” said Mr Quek.As he was good at drawing, he drew art pieces and sold them to his friends. “That way, I earned money to buy my own food,” he recounted.Some rags-to-riches tales tell of clever kids who did well in school. Well, not Mr Quek, an old boy of Xin Min Secondary School.“I did poorly in school and had more red than blue marks on my report card. Studying was just not my forte. My interests lay in leisurely pursuits. My creativity ignited a passion for artistic pursuits. It led me to enter art competitions where I won some awards and trophies. I had always been fascinated and intrigued by the rich Chinese culture and heritage,” he recalled.He added, “After I completed Secondary Four, I went to the now defunct Singapore Art Academy. After graduation, I joined the army. Following that, I went to Taiwan and stayed there for 11 years.”He was in the food business in Taiwan, where he sold dragon candy in 1982. Subsequently, he moved into the foodcourt business in 1993.The man who has been nicknamed Foodcourt King related: “It became apparent after much observation that there is still much room to grow in the confectionary business within Asia. I stepped down from Food Junction and invested $500,000 with a founding member to start BreadTalk in July 2000.”Though I was confident of my ability based on my experience in the food business in Taiwan, I never imagined that we would be able to expand so rapidly. In less than seven years, we made about $100 million in sales turnover.”BreadTalk is now all over the region, including Bangkok, Dubai, Hong Kong, and China.BreakTalk’s international marketsAfter the initial year, the company had plans to break new frontiersin international markets. “We worked to develop BreadTalk as a global brand, leading the trend to break into international markets,” said Mr Quek.To date, BreadTalk has 32 outlets in Singapore and 139 others in Beijing, Bangkok, Kuala Lumpur and Shanghai, and franchises in Dubai, Hong Kong, Indonesia,Kuwait, Nanjing, the Philippines, Shenzhen and Taiwan. He has also established three foodcourts in Singapore, 17 in China and one in Hong Kong, and six restaurant concepts in Singapore.Wife Katherine is deputy chairman of BreadTalkIn September, he took Food Republic to Malaysia.The owner of BreadTalk also owns Din Tai Fung restaurants, Food Republic food malls and has recently added Toast Box to the family.Despite the initial setback of not performing well in school, Mr Quek has beaten the odds and was conferred with an honorary business doctorate for his entrepreneurial spirit and career successby Wisconsin International University two years after launching BreadTalk.“To me, it was akin to a report card for my career. It represented a milestone, a personal achievement in my life. I celebrated this with my parents, family, friends, colleagues, landlords and even contractors who had helped me make this possible,” he remarked.Mr Quek acknowledged that he owes his entrepreneurial streak to his parents.“My parents were quite lenient. We were given free reign to do whatever we pleased, as long as we did it with a clear conscience. This ultimately nurtured the entrepreneurial spirit in me as I dared to venture and try new things,” he explained. Mr Quek added that his parents also played an instrumental role in teaching him the importance of hard work. “They inculcated in me the codes of behaviour that enabled me to achieve the success that I have attained today. If you come across as a caring, cooperative, reliable, trustworthy and respectful person, people will feel that you are someone they can trust. They will then give you opportunities that may open new doors for you. This was what happened to me - I was fortunate to have met my benefactors who are my friends, tenants, landlords, working partner at Food Republic,” pointed out Mr Quek.What his parents taught him about frugality, he is passing it onto his three children. “My eldest daughter, Weirou, is 14 and my two sons, Jonathan is 12 and Matthew is 10. I give each of my children $20 every week. I would query them if they require more money. They have a piggy bank each. Just the other day, my son showed me that he had saved about $300,” he shared. Family finances are left to his wife, Katherine, who created BreadTalk’s signature bun – ‘Flosss’.From as low as 19.5 cents, BreadTalk shares surged to as high as 69 cents.Strong returnsAt work, Mr Quek manages the finances of the company. “I would invest in things that generate multiple returns for shareholdersand ROI (return on investment),” he said. Both he and his wife hold a 52 per cent stake in BreadTalk.The group’s philosophy is to be transparent with shareholders.“We communicate with them via email, sharing ideas on how we can further generate value for them,” noted Mr Quek.As for his employees, he urged them to focus on creativity and learning. “We let them try out and make mistakes as long as they learn from their mistakes. I employ people of good character, who are honest and trustworthy,” added Mr Quek.Today, the group has around 2,000 employees worldwide, of whom 800 are based in Singapore.He considers his customers as bosses. “We strive not only forcustomer satisfaction but customer delight, time and time again. Whichever of our outlets you visit, you are assured of fresh, qualityfood, comfortable ambience, good service and clean environment,” stressed Mr Quek, who won last year's Ernst & Young Emerging Entrepreneur Award.Mr Quek has this piece of advice for the younger generation: “If you have little to lose, you can afford to try, venture out and be entrepreneurial. The world is very dynamic - you need to be flexible and adapt to changing circumstances. Learning is a continual process. If you stop learning, you will be left behind in the race of life.” Yes, one never stops learning. And if you are not that young, you can still take this advice to mean that one is never too old to learn.
- TUCKED in a corner near the supermarket checkouts at Bangkok's teeming Central Plaza Shopping Mall, the food stand raises more than a few eyebrows.On its brightly lit glass shelves sit trays piled with crispy crickets, grasshoppers, other insects and worms. Curious shoppers stop for a free taste and many pay 30 baht (US$0.70) for a 25-gram cup of the crunchy snacks.Along with this unique fare comes either ketchup or a spicy hot Thai chilli sauce for dipping."We sell about 4,000 baht a day at the weekend and a little less on weekdays," said a salesgirl, wearing a bright yellow Insects Inter uniform.The Insects Inter stand is part of Thailand's first insect fast food chain, a 31-kiosk network launched in March that has already made more money than its creator expected.Insects have long been a common staple for Thais, especially those from the country's northeast region. But for many Bangkok residents, they are seen as an unhygienic health risk.Insects Inter's founder SatapolPolprapas has taken the bold move of trying to elevate the business of selling fried insects from grimy sidewalk pushcarts to upmarket stalls next to sausages and chicken in modern supermarkets."The real challenge is to get people to give it a try. If you can do that, you are in business. Our slogan is: 'Never mind the look, it tastes great'," he said.Most of Satapol's customers now are young, middle-class Thais with a taste for exotic food. Some say it goes well as bites with beer or wine.Although Insect Inter's snacks are priced much higher than similar fare from roadside hawkers, the adventurous are prepared to pay more for better hygiene at supermarkets.No hygiene worryThe 29-year-old entrepreneur said urban Thais should discard a mistaken belief that worms and insects were dirty creatures."We buy only live insects free of insecticide from our 5,000 contracted farmers in central and southern provinces. Our insects are fed with vegetables, fruits or rice. Skeptical buyers will change their minds if they see how they are raised," he said.The Insects Inter owner expects the chain to earn him 10-15 million baht ($233,000) in revenue within a year, of which one third would come from a targeted 100-150 franchisees each paying 50,000 baht to be part of his new business."We impose strict quality control. The secret of success is our special recipe and the unique sesame oil used for frying our food," said Satapol's business partner and girlfriend, PailinThanomkait.Insects Inter's franchisees fry processed frozen worms and insects in cooking oil supplied by the company.Pailin said Insects Inter would add grasshopper salad and cricket tempura to its expanding menu in June, and vacuum packed frozen insects would soon hit supermarket shelves.Satapol has seen several ups and downs in his short business career since he got a computer engineering degree from a Bangkok university in 1996.Back in early 2000, the 29-year-old businessman was near bankrupt, saddled with 7 million baht ($163,000) of unpaid debt from a failed shrimp farming venture in Thailand's eastern Rayong province."Disaster struck one day. My farm was hit by a deadly virus that killed all the shrimps in three days. I was wiped out with nothing left except millions of baht of debt owed to shrimp feed suppliers," he said.Wheel of fortuneSatapol's wheel of fortune turned a few months later. Surfing the Internet aimlessly one day while still nursing wounds from the shrimp farming fiasco, he found an advertisement for an agriculture ministry seminar on commercial cricket breeding."I went to the seminar out of curiosity with only 160 baht in my pocket and returned with a bag of crickets. Little did I know that investment would change my life," said the businessman, his new found wealth evident by a 30,000-baht gold bracelet on his right wrist."I have absolutely no doubt that our crispy, crunchy crickets will replace popcorn as a favourite snack in cinemas," he said.The Thai insect king is not a man short of ideas. He plans to open Insects City, a restaurant with specialised insect menus, in the southern Thai tourist resort of Phuket later this year."It will be a restaurant-cum-living museum where patrons can observe and study the whole life cycle of a wide range of insects while having a unique meal," he said.(Agencies via Xinhua)
- TUCKED in a corner near the supermarket checkouts at Bangkok's teeming Central Plaza Shopping Mall, the food stand raises more than a few eyebrows.On its brightly lit glass shelves sit trays piled with crispy crickets, grasshoppers, other insects and worms. Curious shoppers stop for a free taste and many pay 30 baht (US$0.70) for a 25-gram cup of the crunchy snacks.Along with this unique fare comes either ketchup or a spicy hot Thai chilli sauce for dipping."We sell about 4,000 baht a day at the weekend and a little less on weekdays," said a salesgirl, wearing a bright yellow Insects Inter uniform.The Insects Inter stand is part of Thailand's first insect fast food chain, a 31-kiosk network launched in March that has already made more money than its creator expected.Insects have long been a common staple for Thais, especially those from the country's northeast region. But for many Bangkok residents, they are seen as an unhygienic health risk.Insects Inter's founder SatapolPolprapas has taken the bold move of trying to elevate the business of selling fried insects from grimy sidewalk pushcarts to upmarket stalls next to sausages and chicken in modern supermarkets."The real challenge is to get people to give it a try. If you can do that, you are in business. Our slogan is: 'Never mind the look, it tastes great'," he said.Most of Satapol's customers now are young, middle-class Thais with a taste for exotic food. Some say it goes well as bites with beer or wine.Although Insect Inter's snacks are priced much higher than similar fare from roadside hawkers, the adventurous are prepared to pay more for better hygiene at supermarkets.No hygiene worryThe 29-year-old entrepreneur said urban Thais should discard a mistaken belief that worms and insects were dirty creatures."We buy only live insects free of insecticide from our 5,000 contracted farmers in central and southern provinces. Our insects are fed with vegetables, fruits or rice. Skeptical buyers will change their minds if they see how they are raised," he said.The Insects Inter owner expects the chain to earn him 10-15 million baht ($233,000) in revenue within a year, of which one third would come from a targeted 100-150 franchisees each paying 50,000 baht to be part of his new business."We impose strict quality control. The secret of success is our special recipe and the unique sesame oil used for frying our food," said Satapol's business partner and girlfriend, PailinThanomkait.Insects Inter's franchisees fry processed frozen worms and insects in cooking oil supplied by the company.Pailin said Insects Inter would add grasshopper salad and cricket tempura to its expanding menu in June, and vacuum packed frozen insects would soon hit supermarket shelves.Satapol has seen several ups and downs in his short business career since he got a computer engineering degree from a Bangkok university in 1996.Back in early 2000, the 29-year-old businessman was near bankrupt, saddled with 7 million baht ($163,000) of unpaid debt from a failed shrimp farming venture in Thailand's eastern Rayong province."Disaster struck one day. My farm was hit by a deadly virus that killed all the shrimps in three days. I was wiped out with nothing left except millions of baht of debt owed to shrimp feed suppliers," he said.Wheel of fortuneSatapol's wheel of fortune turned a few months later. Surfing the Internet aimlessly one day while still nursing wounds from the shrimp farming fiasco, he found an advertisement for an agriculture ministry seminar on commercial cricket breeding."I went to the seminar out of curiosity with only 160 baht in my pocket and returned with a bag of crickets. Little did I know that investment would change my life," said the businessman, his new found wealth evident by a 30,000-baht gold bracelet on his right wrist."I have absolutely no doubt that our crispy, crunchy crickets will replace popcorn as a favourite snack in cinemas," he said.The Thai insect king is not a man short of ideas. He plans to open Insects City, a restaurant with specialised insect menus, in the southern Thai tourist resort of Phuket later this year."It will be a restaurant-cum-living museum where patrons can observe and study the whole life cycle of a wide range of insects while having a unique meal," he said.(Agencies via Xinhua)
- TUCKED in a corner near the supermarket checkouts at Bangkok's teeming Central Plaza Shopping Mall, the food stand raises more than a few eyebrows.On its brightly lit glass shelves sit trays piled with crispy crickets, grasshoppers, other insects and worms. Curious shoppers stop for a free taste and many pay 30 baht (US$0.70) for a 25-gram cup of the crunchy snacks.Along with this unique fare comes either ketchup or a spicy hot Thai chilli sauce for dipping."We sell about 4,000 baht a day at the weekend and a little less on weekdays," said a salesgirl, wearing a bright yellow Insects Inter uniform.The Insects Inter stand is part of Thailand's first insect fast food chain, a 31-kiosk network launched in March that has already made more money than its creator expected.Insects have long been a common staple for Thais, especially those from the country's northeast region. But for many Bangkok residents, they are seen as an unhygienic health risk.Insects Inter's founder SatapolPolprapas has taken the bold move of trying to elevate the business of selling fried insects from grimy sidewalk pushcarts to upmarket stalls next to sausages and chicken in modern supermarkets."The real challenge is to get people to give it a try. If you can do that, you are in business. Our slogan is: 'Never mind the look, it tastes great'," he said.Most of Satapol's customers now are young, middle-class Thais with a taste for exotic food. Some say it goes well as bites with beer or wine.Although Insect Inter's snacks are priced much higher than similar fare from roadside hawkers, the adventurous are prepared to pay more for better hygiene at supermarkets.No hygiene worryThe 29-year-old entrepreneur said urban Thais should discard a mistaken belief that worms and insects were dirty creatures."We buy only live insects free of insecticide from our 5,000 contracted farmers in central and southern provinces. Our insects are fed with vegetables, fruits or rice. Skeptical buyers will change their minds if they see how they are raised," he said.The Insects Inter owner expects the chain to earn him 10-15 million baht ($233,000) in revenue within a year, of which one third would come from a targeted 100-150 franchisees each paying 50,000 baht to be part of his new business."We impose strict quality control. The secret of success is our special recipe and the unique sesame oil used for frying our food," said Satapol's business partner and girlfriend, PailinThanomkait.Insects Inter's franchisees fry processed frozen worms and insects in cooking oil supplied by the company.Pailin said Insects Inter would add grasshopper salad and cricket tempura to its expanding menu in June, and vacuum packed frozen insects would soon hit supermarket shelves.Satapol has seen several ups and downs in his short business career since he got a computer engineering degree from a Bangkok university in 1996.Back in early 2000, the 29-year-old businessman was near bankrupt, saddled with 7 million baht ($163,000) of unpaid debt from a failed shrimp farming venture in Thailand's eastern Rayong province."Disaster struck one day. My farm was hit by a deadly virus that killed all the shrimps in three days. I was wiped out with nothing left except millions of baht of debt owed to shrimp feed suppliers," he said.Wheel of fortuneSatapol's wheel of fortune turned a few months later. Surfing the Internet aimlessly one day while still nursing wounds from the shrimp farming fiasco, he found an advertisement for an agriculture ministry seminar on commercial cricket breeding."I went to the seminar out of curiosity with only 160 baht in my pocket and returned with a bag of crickets. Little did I know that investment would change my life," said the businessman, his new found wealth evident by a 30,000-baht gold bracelet on his right wrist."I have absolutely no doubt that our crispy, crunchy crickets will replace popcorn as a favourite snack in cinemas," he said.The Thai insect king is not a man short of ideas. He plans to open Insects City, a restaurant with specialised insect menus, in the southern Thai tourist resort of Phuket later this year."It will be a restaurant-cum-living museum where patrons can observe and study the whole life cycle of a wide range of insects while having a unique meal," he said.(Agencies via Xinhua)
- Did you read the story in PDI recently about the Philip Morris, CMO, CEO who doesn’t smoke?He probably knows it’s not healthy—so he won’t smoke, but he’ll sell it anyway…
- http://www.entrepreneur.com/encyclopedia/term/82168.html
- King Solomon, the wisest ruler of all time, said,“Reckless words pierce like a sword, but the tongue of the wise brings healing.” Proverbs 12:18
- Marketing Director friend of Dr Ned – biggest headache of his career806,038 persons from Aparri to Jolo came forward to Pepsi Cola office to claim the P1M prize with the “winning” 349 Pepsi caps they were keeping1992 coalition filed $400M class suit against Pepsi in New York Pepsi lawyers and executives reportedly harrassed the 349 coalition head.A "computer glitch" was blamed for "349" being announced as the winning numberWhose mistake was it?Is this marketing by the book?
- Let’s go on to the 3rd part of the decision making framework. The “R” in LORD: Responsibility. And the 3rd basic P in marketing: PriceWhat would be the LORD’s way when it comes to pricing? Let’s use some case studies again to discern the answer.
- Quick example:Talked with people from Monde Nissin; despite the increase in price of wheat by almost 200%, they have not increased the price of the best-selling Lucky Me! Noodles which has become a staple of the lower DE poor class. Is that marketing by the book? They still make money because of the volume…
- My Dad uses Henry Ford’s mindset as an example of Pricing Strategy Best Practise.[Ask class or someone to read the quote from Henry Ford]Ask – how does he set the price?What’s the result? 15 million cars sold and the democratization of car ownership. (1/2 of all cars in the world were at one point, a Model T).Is this marketing by the book?What was Henry Ford’s motivation and vision? [go to the next slide]
- Ford had a vision where he saw a great number of American families travelling together in his cars and enjoying the great outdoors.In my book, Henry Ford, was a marketer by the book.
- Hats off to BJ’s employer: the Gokongwei’s, particularly Lance Gokongwei.Budget travel is not new in the world, but it is here in the Philippines. Prior to Cebu Pacific air travel was reserved for the middle class. With Cebu Pacific price promotions, they have succeeded in democratizing air travel. Now, truly every “Juan” can fly. Example: the husband of our household help, who is a jeepney driver, was able to fly to Zamboanga.
- Wisdom from the good book says that :“People curse the man who hoards grain, but blessing crowns him who is willing to sell.” – Proverbs 11:26Overpricing is a form of hoarding for me. The marketer refuses to sell to the multitude and make his product more affordable. I know this is debatable, but it is something to think about. This convicts even me as I write and speak about this.
- Have you ever bought products on TV shopping here in Manila? I have a story about the pricing and promotion strategy of one of these companies. They are very shrewd—they tell you about a special offer. In my case I got sucked up into buying a folding table, the Table Mate 2 at P1,995. [copy modulated voice of voice over] But “WAIT!” if I called now and ordered two instead of one, they would give me one more for FREE at just P3,995! Wow what an amazing offer! That made the average cost per table just P1,331.6666. Here are I am imagining how I will be enjoying the table while watching American Idol and NBA.
- I call to order and feel good because I think I just got a good deal. But you know, it’s TV Shopping and you always have this nagging feeling…. About two weeks later, I find exactly the same table in Ace Hardware selling for P750.That’s my story about Value Vision and the Tablemate 2.
- Wisdom from the good book says that :“People curse the man who hoards grain, but blessing crowns him who is willing to sell.” – Proverbs 11:26Overpricing is a form of hoarding for me. The marketer refuses to sell to the multitude and make his product more affordable. I know this is debatable, but it is something to think about. This convicts even me as I write and speak about this.
- Wisdom from the good book says that :“People curse the man who hoards grain, but blessing crowns him who is willing to sell.” – Proverbs 11:26Overpricing is a form of hoarding for me. The marketer refuses to sell to the multitude and make his product more affordable. I know this is debatable, but it is something to think about. This convicts even me as I write and speak about this.
- Marketer’s by the book need the discipline to follow through and finish well. Usually distribution and placement of product is the last step that is sometimes overlooked. Take the case of the re-launch of Sarsi. My Dad was involved in that relaunch when he was with Basic Advertising. They launched a fantastic ad campaign with the Ryan Cayabyab jingle, but failed to place Sarsi in stores and lost a lot of sales. They did catch up later on though.Another softdrink company had their products in place, but their promotion guys made a serious blunder. Was it a case of lack of discipline? A lack of attention to detail? Go to next slide...
- Life changing event #3: Miracle healing of my wife from a life threatening illness called lupus. Miracle featured in Health Today and story in Reader’s Digest.This event caused us to form Salt & Light Ventures
- And lo and behold, the projects started coming in one after another....from small to big to huge...
- Insert recent FB family portrait...