Art of Marketing

Chapter 20. Resource pack concept

Dig deeper into your dreams

and deeper into yourself

and believe that anything is possible,

and make it happen. — Corin Nemec

One of the most important marketing concepts

is called the “resource pack concept”.

Think of your company

as a resource pack capable of producing and selling many products

and services,

not just the few products and services you offer today.

Focus mainly on people,

intelligence and productive resources.

With those resources,

what new products or services

can you produce using existing human resources,

skills,

equipment,

and financial structures to attract new customers in new markets?

Seeing your business as a bundle of resources frees

you from the confines of thinking in terms of the products

and services you’re offering,

the customers and the markets you’re serving.

Think of your resource pack

as having the potential

to create a plethora of high-margin products and services,

offering to other high-margin markets.

The size of your success is measured

by the strength of your desire for you wake and work hard at it daily. — Robert Kiyosaki

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Group new products together

One of the most relevant examples

of this resource pack concept is Intel.

In the 1970s and 1980s,

Intel was the world leader in computer chips

used in most consumer appliances large and small,

including ovens and dishwashers,

to improve performance.

But then, when Koreans and Taiwanese entered the market

with computer chips of equal or better quality

at a much cheaper price,

Intel woke up.

The Intel people,

including the president,

Andrew Grove,

found that they had no place in the field.

Then they decided to completely change their business

to manufacturing microprocessors for computers.

This forced Intel to sell off

its previous chip production facilities,

hundreds of millions of dollars worth of factories,

and shift all resources to building factories

to produce new products

for the market personal computers are evolving.

But at that time,

they met a fierce opposition,

both internally,

from engineers,

employees,

whose livelihoods will be affected by that change,

externally,

from customers,

to competitors in the market.

But Grove remained steadfast in his opinion

and pushed through the transition.

A few years later,

from

“Intel Inside” has become the “gold standard” for personal computers,

and Intel continues to become one of the world’s most successful

and profitable companies.

There is no scarcity of opportunity to make a living at what you love;

there’s only scarcity of resolve to make it happen. — Wayne Dyer

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Explore options

You may need to start a new business or division

to discover the potential to develop

and sell new products or services in new markets

with new distribution channels.

An open,

flexible idea is essential in marketing.

A lot of successful companies

today can sell a product or service

that is completely different from

what they offered five or 10 years ago.

Plus, new products

and services can offer greater profit opportunities

than anything you’ve worked on up to now.

What is the trend?

Where is the market going?

What do your customers need

that you can’t provide right now,

but can in the future?

What do your customers want in the future,

and how can you start developing new products and services

that are ready to be made available to them when needed?

“The best way to find yourself is

to lose yourself in the service of others.” – Mahatma Gandhi

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Conclude

Marketing is the most exciting part of any business battle.

It is the heartbeat of every successful business.

It is constantly changing in response

to the explosion of information,

the expansion of technology

and the fierceness of competition,

anytime,

anywhere,

at any level.

Every business strategy is a marketing strategy.

The ability to think clearly

and rationally about the most effective marketing strategies,

and to keep changing and upgrading your operations

is key to the future of your business.

Fortunately,

like every other business skill,

we can learn about marketing by doing,

experimenting,

and constantly making mistakes.

The bottom line lies in continuous testing.

And whatever marketing strategy works for you today,

no matter how effective it is,

it will soon become obsolete

and need to be replaced

by a new or different marketing strategy.

Your competitors determine your sales,

market share,

and profits.

Nowadays,

the competition in the market is getting more and more fierce.

Therefore,

you must become better,

faster and more innovative than your competitors,

keep ahead of them in the marketplace to become the leader.

Fortunately,

there are no limits to what you can do,

except the limits you put yourself into.

 “If you work just for money,

you’ll never make it,

but if you love what you’re doing

and you always put the customer first,

success will be yours.” – Ray Kroc