|
With Roshini Bakshi, Head of Marketing and New Business Development, Mattel Corporation, Bombay.
She tells you What you should not do while launching a business. 1. Product 2. Public Relations
3. Advertisement 4. Marketing Strategy 5. Research
6. Clients
7. Dealings with the government 8. Protecting your R&D | Do not choose products that have no entry barriers. That means the market is already flooded with them or
soon will be. Avoid products that are already marketed by well-established companies.
Do not waste money in employing large
PR agencies to work for you.Do focussed PR only after the launch of your business.
Do not spend large amounts on TV and print
advertising unless it is a large-scale national product or business launch. Avoid a wide net. Start with a niche marketing
strategy i.e., a strategy that states for example, "I'll sell to all working women with children and who have no extended family
help."
Never start without organised research. Research your product or service thoroughly among friends, neighbours
and relatives. Invest some money to do a formal research, as this will always stand you in good stead. Don't aim too high. Try
and start with one or two large corporate clients, as they will be willing to test your new ideas and propositions. Do not try
to deal with the government and other social bodies directly. Leave it to a good legal help.
Never give this away. This is
your key strength. Protect your R&D well.
|
| 
