the three Ls to success
as far as merchandising industries go, the three most important things are : location, location and most of all, location. at least in the philippines, where your products or services are marketed will largely determine the success of your business.
it doesn't mean anything in the philippines if you have the best product or the highest quality of service if it's not f***king conveniently accessible to your customers. i added freaking because of how the Filipino market thinks. your outlet might be at the same row of high profile outlets. but if yours is at the end of the alley, you better give your customers a very good reason to walk the extra distance to your shop.
you have to be branded, cost-efficient, giving them value for their money, differentiated for them to spend those benjamins or tito-vic-and-joey thousands on your shop. so, if your advertising and marketing boys can't convince the people that they are getting such from your products through your ad campaigns, you'd have to do it the honest and the primitive way.
so how does the Filipno market think? in general (there's my escape clause, now i can rant as much as i want), Filipinos are lazy. they wouldn't be caught dead walking if they can avoid walking. they'd rather have the public utility vehicles (jeeps, tricycles) stop at the gates of their house rather than walk the distance.
with everybody wanting their service customized to meet their needs, efficiency is lost. the businesses that should push the market are being pulled by the market's whim and desires. and i don't see any businesses changing their tactic any time soon - lapdancing for the customer is where the money is. if some businesses do say "enough of this lapdancing, your demands are inappropriate to the whole economic picture," other businesses would just be willing enough to take their place and even add some belly-dancing to boot.
as such, lapdancing for your customers - er, i mean, the location of your products is one of the determinants of business success.
digging even deeper into the concept, there are other location considerations that you need to factor in for your business. for instance, where your factory or warehouses are located can also determine the profitability of your endeavors since your operational expenses will be determined by the good transportation fees, the labor fees of your workers, city taxes, etc.
in the end, business profitability is just about keeping yourself very busy or busy enough at an optimized level. it's positioning your product at a location where there will be a traffic of customers [keep your revenues high] or fixing your production line so that every peso or dollar spent counts [keep your costs low].
it doesn't mean anything in the philippines if you have the best product or the highest quality of service if it's not f***king conveniently accessible to your customers. i added freaking because of how the Filipino market thinks. your outlet might be at the same row of high profile outlets. but if yours is at the end of the alley, you better give your customers a very good reason to walk the extra distance to your shop.
you have to be branded, cost-efficient, giving them value for their money, differentiated for them to spend those benjamins or tito-vic-and-joey thousands on your shop. so, if your advertising and marketing boys can't convince the people that they are getting such from your products through your ad campaigns, you'd have to do it the honest and the primitive way.
so how does the Filipno market think? in general (there's my escape clause, now i can rant as much as i want), Filipinos are lazy. they wouldn't be caught dead walking if they can avoid walking. they'd rather have the public utility vehicles (jeeps, tricycles) stop at the gates of their house rather than walk the distance.
with everybody wanting their service customized to meet their needs, efficiency is lost. the businesses that should push the market are being pulled by the market's whim and desires. and i don't see any businesses changing their tactic any time soon - lapdancing for the customer is where the money is. if some businesses do say "enough of this lapdancing, your demands are inappropriate to the whole economic picture," other businesses would just be willing enough to take their place and even add some belly-dancing to boot.
as such, lapdancing for your customers - er, i mean, the location of your products is one of the determinants of business success.
digging even deeper into the concept, there are other location considerations that you need to factor in for your business. for instance, where your factory or warehouses are located can also determine the profitability of your endeavors since your operational expenses will be determined by the good transportation fees, the labor fees of your workers, city taxes, etc.
in the end, business profitability is just about keeping yourself very busy or busy enough at an optimized level. it's positioning your product at a location where there will be a traffic of customers [keep your revenues high] or fixing your production line so that every peso or dollar spent counts [keep your costs low].
posted by Pipboy at 1:56 PM
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