I reiterate my above said statement to reemphasis the meaning of Right’s in my statement:-
Right Product:- If you dont know the requirement of the customer you are selling Maggi to a person who needs bread and bun.
Right Time:- If you are advertising your product on the cheapest paper on the cheapest channel on the cheapest time slot for sure you are saving SAC of the company but also wasting the amount you are giving for the Marketing. It is a waste marketing it is also applicable vice versa you are giving advertisements on the best newspaper on the best channel on the best time slot but you are selling hair oil it is a complete wastage of money.
Right Customer:- If an army don’t know its battle ground how will it win same applicable in the field of marketing of you don’t know mood, class and purchase capacity of the customer how are you going to reach your product to the customer who need it.
First Time Right:- One company gives 10 Lac to Advertisements and earns 20 Lac another company gives 5 lac for advertising but is able to earn 20 Lac. Which one you feel a successful company in terms of marketing. Obviously with less SAC and maximum earning.
So if you are blasting all the class range and creed of customers without SEGMENTING you are half lost already.
The Company which knows its customer well will survive in the Jungle called Market else the Darwin Laws is Universally applicable it seams made for the Marketing.
“Survival of the Fittest”
2 Questions before Planning a marketing Strategy:-
|Customer||Spare Money||Requirement||Using Existing since||Offer to be Pitched|
|A||2 Lac||X Car||5 yrs||Upgrade|
|B||5 Lac||Y Car||7 Yrs||Upgrade|
|C||10 Lac||Z Car||5 Yrs||Upgrade|
|D||15 Lac||A Car||3 Yrs||Contemporary|