Today's Issue
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Editor's Take: Marketing Physics: A Child’s Play
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SME News: Brace for a stronger peso
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Tax Calendar
SME News
Brace for a stronger peso
By Dennis D. Estopace
Stop whining but push further private sector growth: that’s the terse advice of Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo to exporters as the peso once more flexed its muscle against the dollar on the continuous flow of money, especially from overseas Filipino workers.
Rather than whining over a strong peso and begging for government subsidies, exporters should hedge against foreign-exchange losses, Guinigundo said a day after the peso hit its all-time high of P46.7 against the US dollar.
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Tax Calendar
May 30 - Last Day of e-Filing/Filing & e-Payment/Payment - 1702Q - ITR by taxpayers on FY accounting period for TQ ended March 2007
- e-Submission - Summary list of sales/purchases by VAT-registered taxpayers (EFPS) for TQ ended April 2007
- Registration / Submission - Computerized books of accounts and other accounting records in CD-ROM for FY ended April 2007, and affidavit of post reporting requirements for CAS
- Submission - Inventory list for FY ended April 2007 and PEZA - ITR filed with the BIR on May 15, 2007 by PEZA-registered enterprises for FY ended January 2007
May 31 - Registration of Manual books of accounts and other accounting records for FY beginning January 1, 2007
- Submission - BOI - Transcript sheets of ORB by qualified jewelry enterprises for FY ended April 2007 and SEC - AFS for FY ended January 2007 by corporations whose securities are not registered under RSA or SRC.
Source: Punongbayan & Araullo
Editor's Take
Marketing Physics: A Child's Play
Leave physics to the scientists. As marketing is left to businessmen and entrepreneurs – not rocket scientists, the science of maneuvering your business from its ho-hum state to a viable enterprise is a matter of three simple laws.
The Three Laws of Marketing Physics, as coined and explained by Doug Hall in his book: Jump Start Your Business Brain, could very well simplify matters concerning the complexity of handling a business. Mastery of this science is a cinch.
Law # 1: The Overt Benefit
How many “great things” does your product claim to do? If you mentally tallied more than three, you are in for a big surprise. Consumers get confused with products that offer a lot of features. While it is good to communicate all the product’s qualities, it is best to bank on to one or at most, two, of a product’s strength. This means that you only hype up the overt benefits of the product. This helps the consumers to easily associate the product with its claimed strengths.
Law # 2: Real Reason to Believe
Ask yourself this question, does your business really deliver the one (or two) great thing that your product offers? While word of mouth helps a business grow, it may well be its downfall if disgruntled customers talk ill about your product or service. Give the end consumers a reason to believe the benefits of your product; stick to the truth, keep it real.
Law # 3: Dramatic Difference
What makes a cow stand up from the rest of the herd? What will make a customer pick your product in a sea of choices? The answer is simple. Uniqueness. Study suggests that consumers pick a product not because of intent but because of the uniqueness it has. If you offer the same product as any other, you lose the chance of recognition. In short, the product’s uniqueness creates an emotional connection between the product and the consumer.
Marketing Physics: It starts with knowing your product, keeping it real and progresses to adding a definitive difference that sets you apart from the rest. Stick to these simple laws of handling a business and you may soon be welcoming a steady influx of loyal patrons. Whoever said physics was difficult? This is child’s play.
Russelle S. Trinidad
SME BizLink Editor
