On 16th September, BIO Water Accelerator Program help a training on topic “Fundamentals of Marketing Strategies & Case Studies” at Phnom Penh Hotel, led by Mr. Kruy Chanrith, General Manager of Water Environment (W.E) Venture Co., Ltd.
Objectives:
- Understand the essential marketing strategies framework such as 4Ps and 7Ps
- How to plan budgeting for marketing activities.
- Lesson learnt about good practices from real cases studies
Key takeaways:
- In general, a marketing refers to a business’s overall gam plan for reaching prospective target and convert them into consumers as well as to retain the existing customers.
- Marketing strategies involves analyze market, analyze competition, marketing research, define marketing mix, financial analysis, review & revise, and understand customers.
- The 4P’s marketing mix- Case of Water Sector
- Product: What are you selling? For example, clean water with standard quality.
- Price: How much customers are willingness to pay? For example, $0.25 per cubic meter.
- Promotion: How to promote and sale the products? For example, in clean water sector, there are direct sale, educational events, flyer, booklets, banners, CSR, discount on connection fee and more.
- Place: Where can customer find and purchase your products? For example, water stations, or at customers’ doors.
- Process: A documentation of all workflows for the whole. For example, how to install
- People: The quality of customer service. For example, sale person who are friendly with customers and have good knowledge about clean water benefit and connection process.
- Physical Evidence: The evidence to show that you exit and serious in business. For example, the water station.
- Recommended marketing mix for water operators:
- Educational workshops at schools to young people who can affect their adult willing to connect to clean water.
- Discount/fee connection fee for unaffordable families to urgent willingness of affordable income families to use the clean water.
- Water Station visit tour by high school students
- Meeting with local governance to promote the benefits of clean water and negative affect of using unclean water so that they can educate their people.
- Direct sale to customers with flyers and brochures
- Educational Video on social media since more people can access to internet and prefer video than print material
- Promotion on connection fee
- Partnership to NGOs or other relation entities to offer special offer on connection fee
- Ensure good customer service.
- Some tips to maintain existing customers:
- Maintaining the best quality water.
- Free some maintenance services.
- Ensure good customer service.
- Better payment term.