My 3 P’s in MARKETING

Last week I was asked to present on the 5 P’s in Marketing. The audience were a group of students, who were writing business plan’s. The Intermarket Bank, Venturecomp business plan competition was the focus of this mentoring session.

Although I covered Marketing’s 5 p’s (product, price, place, promotion and people) I took the liberty to add 3 more that would help the students finalise a marketing plan, which is part of their business plan submission.
The overall message I gave was, that asking for a bank loan, was not the primary goal but finding customers and a revenue income, for the product in question, was paramount.

So often we think that having a bank loan is the answer. That loan has to be paid back monthly, with interest and that means from month one, revenue needs to cover this. Think instead of getting customers to commit in advance, for your product and get this in writing.

The 3 P’s that I added are : Planning, Presentation and Personality.

Preparation of the business plan and indeed the marketing plan is 80% of the process. The 20% is the implementation or presentation. Whether you are a student or a marketing professional or a finance director, the planning stage is key. This is often overlooked and in large corporate companies submissions are requested from the respective departments in template format and compiled independently. There isn’t the brainstorming, thinking how to do things better than previously, looking at the customer feedback or researching from the current customer base . It is about beating deadlines and making the figures acceptable instead of how to take products to market. If you just keep asking, “what does the customer say,” that will make a difference to your strategy.

Presentation of the document is one thing and it must comply with either corporate standards or look professional. More important is the verbal presentation of the business plan. Like actors or sports persons, one must practice and practice and practice some more. Know the content back to front and this applies to team members. Ask an experienced person to listen to your presentation and coach you through the dynamics of it. How the team dresses, carry themselves, speak and engage is critical to the acceptance of the business plan. Last week I talked about, “Dress your voice,’ and many people responded saying that presentation skills and confidence was what they lacked.

Personality matters. There is nothing more boring than a bunch of bland presentations that are meant to inspire one about the product and the viability of it. Developing your personality is one of the most important things to do for your personal toolkit. My friend Chizy says that a toolkit is essential, so let’s add personality growth into it. Excuses about what you aren’t or are don’t count.

In the workplace business is about engaging with people. There has to be something about you, your product and your team that makes someone want to stop and take notice.

Products need a personality and if we as the consumer cannot engage with them, then we won’t use or buy them.

I had avoided the food outlets at Manda Hill Centre, since the renovation even though, “Curry in a Hurry, “had been a favourite 2 years ago. As I took a tour of all the shops, I saw the extent of the effort that had been made in the design and upgrade. From the outside it looks like a beachfront of plastic. However once one walks into each food shop, there are interesting elements in design and in the menu’s. Sampling the food at, “My Asia” and enjoying the ambiance reminded me of Hong Kong. I had been missing out I realised. Marketing these outlets to the corporate market for functions and meals as well as having site inspections should be the next step in the marketing plan. This row of food outlets are first class all the way. They just have to be marketed.

The other product revelation, was discovered after following up on an email from,” Little Ndaba Toys,” situated at Crossroads Shopping Centre. A collection of African knitted and crocheted toys are simply a delight. The African village building blocks are innovative and if all the children under 7 years of age in the villages in Zambia could have them, then we would be on the right track with teaching creative learning. The question is how one finds a market for these toys here in Zambia and internationally. Who is the customer and where does one find the customer? How can we support all the small business in Zambia is the question?

Every email, every advert and event gives us as the consumer and the business owner, an opportunity to discover something new . We have an abundance of talent. How do we take these products to market?
AGOA is happening right here in Lusaka. Make sure that you know what it is all about. It could be the breakthrough that your business is looking for. Joining the Zambia Association of Manufacturers is the right thing to do. Collectively markets can be sourced. Get involved.

Email: ideas@carolwhiteconsultancy.com
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