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"Common sense marketing rules"

In the present challenging business environment, common sense is an essential attribute. Unfortunately, common sense seems to be so uncommon. Businesses have forgotten the basics and try out fancy strategies, only to fail. So in this article, my endeavour is to encourage businesses to practice "Common Sense Marketing."


Prasanna Perera

Common Sense Marketing - Rule No I, the product or service marketed needs to be of acceptable quality. Quality as determined by the target customer. Don't go overboard with , specially in inflationary economies. Consistency of quality is really important. Common Sense Marketing - Rule No II, spend marketing budgets wisely. There is no room for wastage, as resources are invaluable. Let us not forget that word-of-mouth (WOM) and Word-of-mouse (WOM) are still the most effective methods of generating publicity. This method of publicity is virtually free! Common Sense Marketing - Rule No III, ensure regular product availability. (Right product, right place, right time). Hence, a good distribution and selling strategy is required. Product non-availability is a major lapse in competitive markets. Common Sense Marketing - Rule No IV, no sale is completed until the payment is received. In today's context we find marketers not paying adequate attention to collect payments. Needless to say, this will lead to financial issues. If credit facilities are granted in any form, a collection plan is required.

Common Sense Marketing - Rule No V, price increases are inevitable and are part and parcel of doing business. Marketers should not be afraid of price increases but points. Common Sense Marketing - Rule No VI, awareness about competitors and their activities is really important. If any marketers are found wanting in this area! Competitors and customers are vital elements in any industry or market. Marketers need to keep track of competitors, through a competitor intelligence gathering system. Common Sense Marketing - Rule No VII, understanding the balance between price and quality is essential. Delivering the correct value proposition is really common sense. But across many markets and industries, value is being destroyed or unnecessary value is being delivered.

Common Sense Marketing - Rule No VIII, excessive discounting is counter-productive. Customers get used to it and it is virtually impossible to reverse discounts. Further, discounts reduce profit margins. In discounting, quantity is the name of the game. (Quantity discounts)

Common Sense Marketing - Rule No IX, understanding of customers and their needs are really essential. In the rush of achieving targets, the customer focus is sometimes lost.

Keep customers under the radar at all times. Know their present and future needs and understand their behaviour. Common Sense Marketing - Rule No X, regular communication with customers is another essential aspect. Out-of-sight leads to out-of-mind! The "pull" aspect must be balanced with the "push." In this brief article, I have addressed 10 common sense marketing points. Keeping these aspects under focus is important for marketing success."Don't make Common Sense uncommon."

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