I have a few friends who are currently discussing with me on their new ventures. These are marketing guys who have proven their worth in the companies that they worked with for years. I know they sell well. I am discussing some possibilities that exist as opportunities. Here I am sharing one of our discussions.
A Marketing Company
A lot of companies struggle with their marketing. Not that their products are bad all the time. Suppose we have a “marketing agency/company” which can pick up such good products and just sell them well. Do you think such a marketing agency or company would grow once they are successful, with their recipe proven, with a few products? It looks to me that today there are more chances of such a marketing company succeeding with good products. More so in this age of marketing with Social Media tools.
Where is the struggle?
There are a lot of good products that dont get to see the market or succeed in the market. The reasons could be many. Sometimes some of the products are worth taking a second look or trying with the market.
Let me share an example of such kind. In the healthcare world, sometimes a good molecule(read antibiotic,as an example) does not sell well. When you look at the reasons, you find many. Sometimes the reasons are simple and at other times a mix of a lot of factors contributing to it. It could be as simple as it was used for a wrong indication, or not launched well. There are instances where innovators have relaunched these molecules successfully. Sometimes others have done better than the innovator.
Take another example. Take the case of CRM softwares in India. It has been very badly promoted in India. But if you ask me, they have real potential. I think I know why they failed. Simply bad promotion.
Today I visited a innovative games store(not the computer kind). I see that their products are very good. Immediately I could think of a dozen ideas to sell them well. But I think they have not done justice to their innovative ideas and products. I told them that. I see that they have gone the traditional marketing way. But markets have changed for such products. Incidentally I saw this fitting case which fits the spirit of this post perfectly.
The above examples are only to say that such experiences can be found with products from every vertical and sphere of marketing. Thats what I think.
As I know the market now, even new products that are good are struggling to sell. May be right from the beginning companies will use outside help to market their product. Not necessarily only good and failed products. May be good and new products too. With so many start-ups of every kind around, such a marketing company can find some good partnerships too for a mutual win-win.
What do you think? Feel free to comment. Share your experience, if any.
Originally posted on http://blog.varadh.com