In 2008, there were 700,000 sari-sari stores in the Philippines. By far, they represented the most frequented sales distribution channel over supermarkets, grocery stores and drug stores. A sari-sari store is also one of the easiest businesses to set up, being home-based.
So go the basic premises of a new book entitled “Small Store Marketing: Para sa mga Sari-Sari Store, Grocery, Bakery, Market Stall, atbp.” by Chiqui Escareal-Go.
The book seeks to provide simple techniques of properly marketing a small business for growth. It is also written in Taglish to make it understandable to as broad a group as possible. And it sells for only P85.
The author says that to become successful, small business owners must:
Stand out and different.
Grow without cannibalizing existing sales.
Increase transaction size.
Add service to product.
Convert from functional to emotional.
Have the discipline to expand.
Understand customers, competitors and self
For a simple sari-sari store to stand out from competitors at every street corner, the book suggests that the owner should understand customer needs and wants and what they expect from the store.
The entrepreneur must also find out who her competitors are and what they have to offer.
Lastly, she should know her own strengths as a person and the advantages of her store over the others.
The book goes on to say: “If you know how to deal with people and build relationships, you have an advantage. If you are creative who can generate new ideas and implement them quickly, you also have an advantage.”
Attend to your record-keeping
The discipline to expand the business essentially entails the capacity to manage the store’s products and its finances.
A good record-keeping system will help the owner keep track of the movement of goods sold against those in stock, and to balance cash on hand against payments made, and credit given to customers and suppliers.
A reasonable records system will provide the owner with a better picture of the day-to-day position of her store.
To add flavor to the discussion, sidebars on actual stories on the successful application of the seven principles of success pepper the book. They also serve as reality checks for the small business owner.
The author is a marketing expert
The author knows whereof she speaks. In 2010, the management trainer and author co-published the second edition of “Fundamentals of Marketing” with her husband, the respected marketing guru, Josiah Go.
She has also focused on a niche market, tapping into a huge base of readers and business owners that could use a simplified yet useful guide in managing an enterprise for growth and success.
Already, the book is a bestseller. A giant food conglomerate reportedly bought 50,000 copies, ostensibly to distribute to the network of sari-sari stores it supples.
This early, Go is also planning her next publishing project that will address the simple business person.
“Small Store Marketing: Para sa mga Sari-Sari Store, Grocery, Bakery, Market Stall, atbp.” by Chiqui Escareal-Go is available for P85 at National Book Store.