Expo in the Street
Marketing opportunity for mini businesses
Participants of the second annual 'Creole in the Streets' have been advised to find creative ways to keep their business a float in post-Erika Dominica.
The event featured close to 50 participants. Majority of the participants were members of the National Development Foundation of Dominica (NDFD), and took place on October 23 outside the NDFD's office on Great Marlborough Street.
Manager of Dominica Export and Import Agency (DEXIA) Gregoire Thomas said that staging of this exhibition in the streets provided a great opportunity to showcase products and services. There is an urgent need to generate sales, he said.
"Tropical Storm Erika is a reality we all have to work with and to find creative ways to keep our businesses afloat," he said.
Thomas said to the participants as they displayed their products and services that they should pay close attention to the feedback they receive from existing and potential customers.
He noted that the participants should test how they could have applied the elements of the marketing mix in their operations.
In addition, Thomas said that many times individuals convince themselves that they have an excellent product but charge prices that are not competitive with their competitors.
"You may charge a price that is too high that nobody wants to buy your product or you may charge a price that is too low to cover the operating cost," Thomas added.
Therefore, he said, price is one element that need close attention because price is one thing within their control that they can manipulate.
"How you treat promotion of your product or promotion of your services? Do you wait for another Creole in the Streets to create awareness of your product or service?" he asked. "Do you use cost effective means to your product or service or do you set aside funds for your product or service for the promotion of your product or services?"
Thomas noted that small businesses have serious challenges in terms of making 'ends meet' and most times marketing and promotion is an afterthought; persons do not incorporate those costs into the operations of their business.
He added that there are means of promoting that are expensive and there are means that are low cost.
Meanwhile, member of the Board of Directors Nicholas Bruno said that 'Creole in the Streets' is staged in October which is also the period that Financial Information Month is held and financial institutions provide valuable information to their clients and public in general.