This morning, there is an interesting events about Marketing Skills from 9:00AM to 12:00PM organized by Impact Hub Phnom Penh @ Joma Bakery Cafe and presented by Mr. Niek Van Veen, Marketing Director @ Cellcard.
Before going to the detail of the knowledge gained from this session, let's briefly get to know about Impact Hub Phnom Penh. Based on their information, Impact Hub PP is a co-working space, community and global platform using the power of collaborative entrepreneurship to create positive change in Cambodia. This team is running by a Cambodian Woman, Ms. Kuy Sophea and a group of foreigners (led by Mr. Alberto Cresmonesi from Italy) working in Cambodia to lead and provide the consultation for Social Enterprise and Young Start-Up in Cambodia and act as the educational institution opening freely for young Cambodian, entrepreneur and active foreigners from different countries to share, learn, consult, network and cooperate for the innovation in modern business within Cambodia; they are really creative and initiative for the positive change among young Cambodian Start-up and the social entrepreneur. They regularly organize very good educational and networking events for the public and broadcast their information on https://phnompenh.impacthub.net/ or http://socialenterprisecambodia.org you may go to register your user @ www.eventbrite.com for registering to attend more events with this team as well as other events in Phnom Penh or any places you go. If you really go to Impact Hub Phnom Penh office, you will see the best innovation and design warmly welcome you! Recently, Impact Hub Phnom Penh is cooperating with Zaman University, Cellcard, and business networks for more creative and networking events.
At the start of the session, He explained about the foundation and the secret ingredient for the successful marketing innovation. Based on his presentation, Marketing is sometimes said to be just a promotion or cheating for only selling products. It is not true! Marketing is everything creating value for the target segment. For instance, CocaCola is promoted for the happiness using the quotes "Open a Coke, Open Happiness!" or one company advertise the lipstick product with picture of pig using colorful lipstick mouth design on it. According to his source from American Marketing Association, marketing is the activity, set of institution and process for the creating community, delivering and exchanging offering that have VALUE for customers, clients, partners and society at large. For example, the cost of the product is USD1.00 and you sell it @ USD1.50, so USD0.50 is the value that you get and the customer get the value for the product usage. Sometimes, it does happen even for the fake products! Do not imagine about fake product selling in the market with no value or advantage to the consumer. Let's figure out about PLACEBOS. Most of foreigners knew about this product! Why it is faked? Based on the history, PLACEBOS was used while the patient requested for medicine and complained about their health. The doctor knew it is not matter with him, so he gave the fake medicine (PLACEBOS) to the patient. After he got it, he said he felt better meaning even it is fake it is worth for the marketing as people get cured by their own perception other than that medicine. Remember, The Value of that product in the eye of the patient is the main factor to promote PLACEBOS which is said just to contain water without any special medical ingredients.
Let's proceed to the hot topic for marketing skills which is the marketing mix 4Ps:
In addition to that, he added more 2 Ps including People (staff) and Process (Cost really low and faster delivery from door to door).
Ex: Selling Lemonade!
Product Sour Sweet
Place Traffic Light Playground
Promotion Walk Around Lemonade stand
Price KHR500 KHR100
Last but not least, let's focus on how to develop the right marketing mix with STP model. First, Segment: grouping the customer by their age such adult vs Child. For example, you decide to segment your customer as adult age 19 years old. Then Target: Segment with location or specific criteria. For instance, you figure out the best target is adult age 19 years old in Phnom Penh only. Finally, Position your product: low cost and differentiated! For example, the price of a cup of coffee is USD1.50 in the market and then you find way to lower cost led to low price only USD1.25 per cup of coffee. Or you may sell coffee with low price and more options like Capuccino, Latte, Smoothie, Orange Juice.... The session is over and Mr. Niek Van Veen had the last words before the end. "Doing marketing research, never ask what your customer want, but ask what they need!" "People didn't buy your products, they buy solutions to their problem!" "Poetry is when you make new things familiars and familiar things new!"
By: POK Panhavuth