Episode 17 – Will Good Product Make Money? How About Marketing & Strategies

Episode 17 – Will Good Product Make Money? How About Marketing & Strategies

What is the key to make more money?
Good product, marketing strategies or other methods?

Hey hey hey~ It’s Hardy Loh here again.
Welcome back to Episode 17 of 《Entrepreneurship Tips》.
A lot of people thought that good product
will bring you a lot of money,
but the fact is not really.

Why am I saying that?
Let’s me break this down for you in this episode.


Good Product, Marketing Strategies or Advertisement?

Speaking of good quality product,
I believe you would agree with me
there is no doubt that products from Japan
are also with good quality. Yes?

They also have top notch technology,
handmade precision on every products.
They’ll ensure that every detail is the best.
But to have a successful business,
it’s not only relying on doing the best
then you’ll be succeeded easily.
I found that is not the case
during my entrepreneur journey.

Have you discovered most of the products
are already replaced by Korea?
For example TV, mobile phone, home facility, etc.
Japan has the top notch technology
so this is not the main issue for them.

So do you think is their product quality has dropped?
Plus, you could always see some news
mentioned that a lot of Japan companies
are losing money like Sony, Sharp, etc.

The reason behind this, it could be due to
their own management and policy issue.
Most of them only focus on high quality for the products
but forgot what customers really need.

Maybe the customers nowadays won’t bother too much.
They don’t need a very high end products,
As long as it’s enough for them and the quality is not so bad.

But what makes Korea different in this field?
Any idea?
The answer is MARKETING!

Korea is doing their marketing very well in every field.
You could see some artists, TV programs, drama,
they will implant some advertisement inside
the show every now and then.
For example a very popular show
around the world, Running Man (Yes, I watch it :D)
You could notice their shirt, shoe, cap
always being changed in every single episode.

The most obvious one is the phone
they were using during the mission.
They changed it quite frequent as long as
there is a new Korea brand phone just launched.
Moreover, it’s the Samsung/LG phone flagship phone,
including another accessories like smart watch as well.

Thus if you want to get success in your current business,
You can’t really just rely on one thing.
There must be someone in your company
is doing great in marketing strategies.
Like yourself or your team mate, co-founder or staff.
You also need to know what customers really need.
Then do something on it.

Do you agree on that?
Leave your comment below and let me know.

Previous Episode: Fail Achieving Goals even You’ve Already Set It? – Episode 16

 

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