When times are tough and the investors are grilling the executive and management team, then that is the time suddenly we again would like to revisit our business plan.
Well, the good news is that it is just February (Happy Valentine's Day - By The Way) and the quarter had just began. So pull out your budget's, forecast, day to to day and profit and loss statements (if ever you do have one).
Re-inventing the wheel is not so hard but so can't you re-invent the world today, the past and the numbers right? No matter what kind of company or business you are in big or small, the hardest egoistic belief is that your company has to appeal to the whole world.
Looking at the numbers line by line you then discover that a lot of wasted advertising dollars went to non customers or at least trying to acquire a bigger market share (which market) which is now an illusion of the mind.
Although this is a legitimate strategy in increasing market penetration, it is easier said than done. If (oh yeah) and only if we just focus on this particular segment or customer profiile you could have perhaps save on some pennies to a dollar.
If only we did follow through on that existing client and look at the possible network he might have given us, oh yeah perhaps we could have save and still broaden our baseline. Well, the intial plan was domination by reaching to everyone but that could have work in the world of polticis but not in the business especially for our specific type of industry.
If your VP for Brand Strategy, Director of Marketing or DOSM still have this grandeur idea of penetrating this market index 100% then you probably need to call the company doctor or pyscho-therapist to evaluate if that person is experiencing disillusionment. Isn't it true that there are only two kinds of customers? One that is brand conscious as everyone else is or the opposite customer that buys anything except that brand.
When our advisory team were debating then if we were to concentrate on rare collectibles or new and used books, I used to ask the question about demographics and the market condition. After all, we have historical data, the behavior methodology and even an extensive research from the industry experts.
Just looking at the indicators, how come the expensive brands seem to be not so much a need by the working middle class. How come does used, vintage and generic brands are hot? So again we can still see the trend on economics as people don't have the money to spend, they buy things to survive each day and find the best way to find the best deals which is of course with a little advertisment here,
www.affordable-booksonline.comor simply through online.
So either you are the right extremist or leftist politico just like would you drink coke or pepsi (that was not an advertisement by the way) is what consumer behavior is nowadays. After all change was the ultimate factor why we elected a new president of change and we had to make that choice of which was the best candidate for the position.
Thus, by narrowing now our focus we can completely spend our remaining forces and operating cash in the tough world of business survival today. So are you going to be the brand loyalist or the other emerging brand consumer?
www.apecyouth.com
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