Have you ever wondered just how many of your decisions you put off till the last minute?
Our fascination with deadline starts from our early childhood. Remember just how many times we used to finish our syllabus the night before the exam despite having so much time in our hand before? Remember just how many of us postponed our career decisions until the last day? We have 365 glorious days to invest our money, but its only in June that we see the people flocking the Banks and Post Offices in search of bonds and other investments. Why? Because of that June 30 deadline.
The assumption is clear. We postpone our decisions till the latest possible hour. Thats why its always better to have a time bound push in your marketing messages. If you have a sales target to meet, always focus on the “Time”. If you are running a Consumer promotion, assign a big space to show when this promotion will end. That is the number one factor at times, that will make or break a sale.
2 comments
fahmida Islam
June 26, 2007 at 2:18 pm
Im trying to own a business like Boutique shop, can you plzz answer The types of questions that sales and marketing professionals have include:
Where can I find new, high-growth customers?
What is the associated financial risk to acquiring or retaining customer?
What is the cost to serve a customer?
Who are the best customers?
Which customers are likely to defect?
What product/services should I cross-sell to my customers?
What is the total demand of the customer for a product/service?
How profitable are customers?
What products do customers buy and what product groups are purchased together?
Which distribution channel do my customers prefer?
Who are my competitors?
Don’t you think that Increasingly the sales and marketing manager needs the intelligence to answer these questions without performing any additional analysis ?
Sadique
July 15, 2007 at 6:51 am
I dun have much idea about fashion or others. But in case of boutique, we can focus on two things:
1. Location
2. What you offer: Variety or Theme…
1. Unless you have a great theme shop, your location will matter. If you have a great theme shop, the location will also matter to some extent. A NSU girl will not probably go to chawkbazar to buy a dress.
2. theme is very simple—at first look at Arong. Then the next version: OG, Kay-craft and others. Then Rong and Sadakalo (you have more distinct theme). Then you have Yatra. Get the pocture?
3. Similarly, take Bangabazar, then we have westecs, then text-mart and pretex who tried to copy but failed. Probably one of the most intersting makeover we overlook is of Ecstacy. The name suggested aristrocacy. The product suggested Banga Bazar.So they kept the name turend it into an aristrocate shop (check prices!). And they are successful now! Why: just understand: Differentiation!!!
Yes i know those were not your questions. But to answer your question, we need o understand that. I know plenty of boutiques which dont have any fashion designers. They just get a picture from sananda, give it to the tailors/suppliers in Mohammadpur Pakistani camp and they make the dress. Forget quality, the knitting and other things. If you want to be one like that then probably a good place will be Aziz Super Market (not kiddin, this is one of the most silent happening place in the country). But i will never suggest you to compete in Basundhara or other places. You simply will not get noticed.
Forget those questions we asked for the time being. Give us your theme. It can be anything and please dont want to be the clothing agora (want to sell everything). Have your niche and then develop chain of shops in Dhaka, Chittagong, Bogra etc.
Dont go for cross-selling, it is a killer, unless you are addidas or Nike, i will never believe that your shoe is as good as your shorts