Marketing Mix in times of LAYOFF

Friends, I had taken Marketing as a specialization in my B School. The first book I purchased based on our professors insistence was that of Marketing Management by Philip Kotler. I never read the whole book as I found it to be very Americanized (that’s an excuse).

But whatever limited I read, the one concept which interested me was that of Marketing Mix. I was fascinated by the premise that the 4 P’s (Product, Price, Promotion, Place) are the foundation of any Business model whether big or small. It was because of this Marketing Mix concept I started liking the subject and thought to myself that I had done the right thing by choosing it as my specialization.

I completed my MBA got placed in Tata Infomedia in Mumbai and by that time 3 more P’S got added to the Mix which were Packaging, Process and People (you can get details about this on the net).These new additions in the conventional marketing mix was due to the nations becoming boundary less ,businesses growing across geographies, educated and aware consumers. Many companies started mushrooming which lead to more competition as well as a spur in RECRUITMENTS. As youngsters started getting hefty pay packets the spending power increased and accordingly there was a tremendous growth in the service sector.

All was rosy till the SUBPRIME crisis hit the US market and invariably after that a gloom set in and most of the countries were in the claws of RECESSION .All organizations started cutting cost and most of them utilized the illogical option of LAYOFF.(Its totally ABSURD)

The layoff tales which we are seeing across the net, on television channel not just in India but all over the world really shook me. I was pondering upon what needs to be done in such trying times for myself (tomorrow I could be laid off) and my friends? What are the points we need to focus, whether times are good or bad, companies recruiting or not? What should a individual do to survive competition/layoff?

Suddenly an idea struck my mind, why dont we apply the Marketing Mix to ourselves though with subtle changes. So my friends here is the Marketing Mix which I have devised and which we all should constantly look to follow for attaining our objectives .

ABCDE MARKETING MIX

1) A stands for Anytime Anywhere – We should be ready to relocate and work Anytime, Anywhere. Location now should not be an hindrance. What is more important is your profile. It also implies that sticking to one FUNCTION, INDUSTRY is not needed. Today every organization needs people who are multitasking and have cross functional and cross vertical experience.

2) B stands for Business Web – We should build such a network that we are constantly in touch with our former colleagues, superiors, profesors, I say everyone. Only to remain in contact is not sufficient but sharing your experience is of paramount importance. In the times of layoff you never know whose contact will help you getting a job.

3) C stands for Communication – Communicating on what are your new skill sets ,your profile, your projects and every aspect of your personality is a must do. Nowadays, it is very much possible due to the advent of Social Networking Sites like Face book, Linked in etc. Writing Blogs on varied topics and posting them also communicates to the audience your clarity in thinking and command over a particular topic or ideas.

4) Discovery of Potential – One thing which we all forget to do is analyze ourselves. It should be our topmost priority to see where do we stand in the Company, Industry. What is our worth to the organization? Do I have the soft skills required for the job? What should be my salary, am I overpaid or underpaid? These are questions we need to be answered and improve upon. You can guage your potential by talking to recruitment consultants , giving interviews on regular intervals etc.

5) Education – In whatever stage of Career we are ,prime importance should be given to educate ourselves on anything which will be a value addition to our Work and especially the Resume. Education should be a continuous process, it does not necessarily means a certificate course but also keeping abreast with latest updates . Attending Symposiums, Conferences, certificate courses etc fall under this category.

So my friends this is the Marketing Mix I wish we all follow whether in good times or bad times, inflation or deflation, recruitment or layoffs. After all we too are like products facing the rigours of competition and constantly innovating and upgrading ourselves.

If we cannot sell OURSELVES, how the hell will we sell a PRODUCT?????????

Cheers!!!!!!!

PS – I am continuously praying this LAYOFF SAGA comes to an end