Today, everyone needs to market self. Some market their products, and others market their skills. Is marketing difficult? It is difficult, however, it can become easy, if we follow certain protocol. This talk gives you some insights into effective ways of marketing.
1. MARKETING ONE’S PRODUCTS: IS IT
THAT DIFFICULT?
A DOCTOR’S PERSPECTIVE
DR SUDHIR KUMAR MD DM
CONSULTANT NEUROLOGIST
APOLLO HOSPITALS, HYDERABAD
2. Why was this topic given to me?
• Is the skill of “marketing” needed by only a
few of us, such as sales persons?
• No, we all need to know about effective
marketing skills,
• We need to market our talents and skills on a
daily basis,
• Landing a job commensurate with one’s skills
needs marketing, so does the
progress/promotion in one’s career path!
4. MARKETING: DEFINITION
• The action or business of promoting and
selling products or services, including market
research and advertising.
• The management process responsible for
identifying, anticipating and satisfying
customer requirements profitably.
• Marketing is a science, as it involves extensive
use of psychology, sociology, mathematics,
economics, anthropology and neuroscience.
6. PRODUCT
• Company name & branding,
• Specifications as per customers’ requirements,
• Packaging & labeling, strategic positioning in
stores,
• Designing and product innovations,
• Warranty, guarantee, support.
7. PRICING
• The science of fixing a price for a product,
monetary or otherwise.
• May include discounts (discounts don’t work
for long; may erode profits too!),
• Need to look at the competitors’ prices,
• However, quality and uniqueness of own
products are more important,
• Volume of sales may play a role in pricing too!
8. PLACE (DISTRIBUTION)
• Online/retail/both
• Channels- direct/wholesale/stockist/dealers
• Choose the correct geographical area
(choosing Sudan for anti-obesity products
would surely fail!),
• Target the correct persons- based on
profession or age or gender (for ex: Focus on
equity over FD/debt instruments while dealing
with people in 30s)
9. PROMOTION
• Marketing communications,
• Advertising- print/TV/FM/social media
• Personal selling,
• Branded entertainment shows/sporting events
(Events such as IPL can make a brand “star”!)
• Exhibitions
11. PERSONNEL
• Personnel are the keys to successful marketing,
• We have seen sales coming down once a regular
marketing person leaves a company (sales may
even get transferred to the new company!),
• Training and retaining personnel play a key role in
improving sales,
• Weaning off “poor performers” and “non-
improvers” is equally important!
12. UNDERSTAND CONSUMER NEEDS
• Enquire, talk and assess the exact requirements
of the customers,
• Identify the “vacuum” & “underserved areas”
• If needed, communicate to head office for a need
to do research/innovation to fill the gaps,
• Focus on areas/segments with lesser competition
and niche areas,
• Withdraw items/services, whose preference is
waning.
13. MEETING THE CONSUMER
• Meet the appropriate consumers (no point
promoting the latest anti-diabetic drug to a
neurologist!),
• Seek prior appointment (barging into a busy
office is a sure way of putting off the person!),
• Proper grooming & attire (who doesn’t like a
smartly dressed person!)
• Be armed with all available information about the
products (blank face on questioning is a big
“negative”!)
15. INTERACTING WITH CONSUMER(1)
• Amount of time is “limited” (30 sec to a min)
• Focus on the product, its uniqueness, quality and
economical aspects,
• Focus on a few key products in one visit (no point
listing 20 products in 40 seconds, consumer may
not remember even one of them!)
• Requesting to use a product just because a
“famous person is using” can put off many, so
avoid!
17. INTERACTING WITH CONSUMER(2)
• Maintain continuity of visits/meetings (it does
not take much time to forget a product!)
• Presentation skills are important too (eye
contact, confidence, proper use of hand
outs/i-pads)
• Avoid talking about “off-label” use of
products,
• Do not “undermine” rival
brands/products/companies (can backfire at
times!)
19. “BACK-END” WORK
• Regular follow-up regarding usage of products
and any concerns that the consumer may have is
important,
• Ensure adequate supply and wide availability (a
product out of shelf for a few days can put off
patients and docs!),
• Take note of any adverse effects/defects in
products/packaging, etc and report to head
office.
• Respond to customer complaints “promptly” and
take remedial/corrective measures.
20. Deadlines and Targets
• Humans are basically “lazy” (there are a few
exceptions), so, targets and deadlines are
important,
• Targets could be “meeting a particular number of
customers”, or “particular amount of sales”,
• Targets can be set by bosses or the marketing
personnel themselves,
• “Self-set” targets suggest inner motivation and
are more likely to succeed.
21. INCENTIVES
• If targets inspire people, incentives too
(release of dopamine in response to reward
can be addictive!),
• Incentives should be “performance-based”
and not “person-based” (qualifications,
physical looks and closeness to boss should
take a back seat!)
22. Does Marketing still look difficult?
• I am sure it looks easier now,
• If you follow these simple rules, sales would
increase, and profits would follow
Ratan Tata as an example; job as per degrees/expertise
Without marketing, a good product can fail; and on the other hand, with proper marketing, an average product can become “super hit”! (Case of insurance policies being oversold with promises of stellar returns! Or investing in second home to earn rental income, which in most cases are even lower than FDs)
Buying a product should be need-based, however, many times, it is impulsive. Emotions too play a role. When happy, one tends to splurge (increased sales during festivals). Discounts work on minds too- one often buys things that they do not need! Also, peer pressure and jealousy play a part- “if the neighbor has it, I should have it too, or may be better than my neighbour”- Remember- Onida TV’s ad- neighbour’s envy, owner’s pride
Mercedes, HDFC bank, Apollo Hospitals- strong brand names; marketing easier. Maruti- Wide distribution of service centers, Nexa added customers to premium segment. Perfumes, watches, always kept at the front, easily noted from outside. Best dresses on mannequins (with shapely body contours)
Price should give the feeling of “value for money”. Should neither be too exorbitant nor too cheap. Exorbitant prices can drive the customers away, whereas deep discounts can ruin the finances of the company or person- so both situations should be avoided.
Wider distribution or expansion would require more infrastructure/logistics/personnel, etc. These should be ready before venturing into a new area. Online marketing has added a new dimension to sales/marketing. The entire world has become the marketplace. A person/company, not joining the online platform, would surely take a hit on their sales, and may go into oblivion too!
Correct event/function should be chosen to promote the products. For ex- health drinks or fitness gadgets can be well promoted during a marathon or sporting event. Promoting Macdonald or KFC in those events would be a waste of resources. Exaggeration and false claims regarding products should be avoided.
Efficient people should be groomed & nurtured. They should be treated like family. They should be made to feel that they belong to the company. It is equally important to show the door to a non-performer or non-learner. Not only they are unable to increase sales, they may also negatively influence other better performers and spoil the company’s name.
Positive examples: Colgate- venturing into herbal toothpaste; coke venturing in to fruit juices; ITC giving additional focus to non-tobacco businesses. Negative examples- Nokia not realizing the consumer preferences of smartphones, 100 year old company Kodak became bankrupt because of not entering digital camera segment at the right time.
Flowers work, but only for a while…their freshness and fragrance are temporary! Perfect product, efficient communication and pleasant manners, on the other hand, would leave a longer-lasting impact on the consumer.
When you meet the consumer, come to the main point- your product- soon. There is no point talking about the latest development in politics, as the time allotted is little. Talk about proper evidence (in medicine, we call it class I evidence) and not anecdotal evidence (such as endorsement by a famous person) regarding the effectiveness or superiority of a product.
Many people do not know what to talk to a consumer. Talking more is not always more effective. Communication should be what the consumer wants, and not what we want to say!