Jul
09
2008

Create your own Market

Davao Light and Power Corp Success StoryWhat use is a great product if there is no one there to buy it? A question that all business people ask themselves. Davao Light Power Corp had a unique solution to the problem that was facing them when they were still starting out.

It was in the fifties when they were distributing power to the city of Davao. Davao at that time was still the sleeping giant that it was. Mostly rural with only a small city center. Compare that to the bustling and power hungry metropolis that it is today

So how did they increase demand for electricity in a region that only recently got used to regular lighting? They went up and set up an appliance store selling home appliances to the people in Davao.

Think about it, great product aided by another great product (electricity and home appliances) helped to boost the sale of their electricity. Add to that the word of mouth news spreading of the wonders of television and radio. This development not only helped boost electricity sales but spurred sub industries such as media, industrial works and the like.

Davao Light did not wait for somebody to come into town and start selling electrical appliances, they went out and sold their own electrical appliances.

Business should always think about lending a helping hand to other business that can help affect their future returns. Some of these come in the form of low pricing, credit extension etc. Helping their business flourish can mean that your business will flourish too when they come back to you with more sales of your product.

Of course there is a saying that the utility industry (water, light, heating, etc) is the best industry to be in because you never run out of customers. Still, it’s a good model to look into.


Category : Business Tips

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