Young entrepreneurs get marketing tips
Young and aspiring entrepreneurs received a hefty lesson in brand building and promotion from leading industry and corporate executives during the annual LIME-sponsored Young Entrepreneur’s Expo 2014, held at The Jamaica Pegasus hotel last Friday.
Carlo Redwood, vice-president, marketing, LIME, shared his perspective on the numerous opportunities available for young entrepreneurs through existing and potential business ventures.
He also shared valuable insight into the marketing operations of large corporations in the beverage, retail and telecommunications industries.
“The first thing you need to know is your product and who you want to sell it to,” Redwood shared, advising the sizable audience not to ‘get caught up in the hype’. “If you can’t show a direct link between what you spend and your sales results, you are doing something wrong,” he added. According to Redwood, the theory of brand equity is changing and has changed.
“Before, you could depend on the strength of your brand and product to keep it alive, and to produce results over a longer period of time. Now, you need to invest against things that will work and sell your product now.”
Hosted under the theme ‘Strategic Marketing for Entrepreneurs’, Redwood was joined by Imani Duncan-Price, group strategy manager, JMMB; and Javette Nixon, CEO, Point Global Marketing. Other key points emerging from the session was the manipulation of social-media platforms to gain market presence, conduct research and communicate with potential clients, as well as the importance of timeliness and reliability in conducting business.