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RECOMMENDED MARKETING STRATEGIES FOR EDYSYL

BOOKSHOP LTD

The term strategy was derived from the Greek word “strategos” which means ‘general’.
The concept of strategy was originally used in military science and art, where it implies
“the art of the general to improve the probability of winning a war”.

Chandler (1962) defines strategy as the determination of the basic long term goals and
objectives of an enterprise, and the adoption of courses of action and the allocation of
resources to carry out these goals.

Strategy is a company’s ‘game plan’. It is a company’s choice of major directions for


pursuing a goal and the allocation of supporting resources.

An understanding of Edysyl product-mix will reveal that there are different levels of
product cycles. Hence it is a multi-dimensional process which demands an inter-
disciplinary attack.

COMPETITIVE STRATEGY: First and foremost, we must adopt a competitive


strategy in order to increase our percentage share of the market. Edysyl should focus on
the prevailing market demand, by concentrating on the materials that customers need. We
should also strive to make our prices competitive. These could be achieved by constant
market survey of prevailing customer-needs and prices from related industries.

MARKET PENETRATION/CONCENTRATION: A lot of our publications are not


well known in the market. We should adopt more aggressive marketing efforts to make
our publications popular, thereby getting greater percentage of the market share within
the current market already known.

MARKET DEVELOPMENT: We should strive to enter into new markets and get our
products appeal to the customers. We need to prospect for more customers in Akwa Ibom,
Minna, Kaduna, Cross River State, Abuja, Plateau States and other African countries like
Ghana, Cote de voire & South Africa, to develop new markets. We may not establish
branches there but we can advance ways of meeting their demands.

PRODUCT DEVELOPMENT: A lot of our slow-selling items need to be re-packaged,


modified or re-arranged to suite the taste of our customers. We can apply product
reformation, reversing or combining existing features of the products to appeal to the
tastes of our customers.

DIFFERNTIATION STRATEGY: Edysyl should develop products that distinguish it


from the products of its competitors. We could import bibles that would be unique in the
market. The dream for Edysyl bible should be actualized. Above all, publishers abroad
could be won in partnership for production of Bibles and other materials in Edysyl trade
mark.

© Charles Agbo
July 2006.
ABANDONEMENT STRATEGY: Many products which refused to sell over the years
should be abandoned. They should not be imported again. Edysyl publications which
were not selling fast should not be reprinted again.

RE-ENGINEERING: The way we do things should be changed to reflect the demands


of modern economy. Our system should be computerized for speedy analysis and report
for management decisions. The use of E-mail should be encouraged and extended to the
desk of at least each departmental Head. Each departmental Head should be encouraged
to develop customers and service them.

INTEGRATIVE GROWTH STRATEGIES: Edysyl with its broad capital base, nay
international connections should seek to control existing source of supply. We may use
bulk purchase or closing up to achieve that. Edysyl should also seek to control existing
shops that are strategically located in the industry. This could be achieved by concession
sales or partnership with the companies. If it is possible, we could even buy up such
shops or companies.

STRONG MANAGEMENT TEAM: A strong and indivisible management team will be


very important. All hands must be on deck to reach the “promise land”. Every
management staff should identify and effectively service some customers. Managers
should see themselves as Team Players. It does not matter who scored the goal but how
well you have passed the ball to somebody who is better positioned to score the goal.

Managers should handle management policies as babies and ensure their full
implementation and practice by all and sundry. In this regard, managers must take the
position of role-modelers who should adopt leadership by precept.

APPOINTMENT OF DISTRIBUTORS: We should also appoint distributors in each


state for a start. We may later appoint five distributors from each state. Special discount
rates should be introduced to boost the morale of distributors.

AFFECTING CHRISTIAN COMMUNITY: We should work in partnership with


churches. We should identify with church programmes and advertise on their program
brochures. We should also support or sponsor some church events.

CUSTOMER RELATIONS: We must establish a good customer relationship. We


should give little gifts like biros immediately a customer purchases. We should attend
personal ceremonies organized by our customers. We could also offer attractive discounts
to customer, especially for bulk purchases. Our customers’ birthdays must be
complimented by at least a phone call or text message.

COMMUNICATION STRATEGY: We should communicate our customers effectively


by informing them promptly on the new arrivals, through e-mail, Telephone etc.

MARKETING TEAM: Our marketing personnel should be reinforced with adequate


training and equipment in order to make them real goal-getters. Indebt product

© Charles Agbo
July 2006.
knowledge and periodical assessment should be instituted to boast the performance of the
workforce. Edysyl should be earmarked by our highly esteemed customers for hospitality
and excellent service delivery through the professional touch of the marketing team.

SOUND ACCOUNTING SYSTEM: There should be good accounting policies to back


up the efforts of the marketing Team. The accounts department should be pro-active to
keep abreast with details of stock control. They should give periodical reports of stock
and debt levels. Accounts reconciliations and follow ups should be the pre-occupation of
the department to argument the efforts of the marketing department.

EXPANSION/GROWTH STRATEGIES: Edysyl should expand the scope of its stock


in trade by venturing into academic text books for universities and other tertiary
institutions. It will go a long way to create new markets and boast the company’s profit
margin.

One hopes that with a judicious application of the above strategies, the soul-rending
bleating of low sales and in-activities in Edysyl would be a thing of the past.

© Charles Agbo
July 2006.