National policy vital to protect local industries

by Hemal Dias

There is a common saying that the impact of Globalisation has left many people better off, but also a significant number of people worse off - in both International (failures in export markets) and local markets (failures in competing with imported products).

We have been experiencing a high rate of failures for many of our new products and services and this situation is largely because they weren't tested properly in potentially identified markets before the launch.

Marketing people can't sell a product unless there is some underlying initial consumer interest or inclination .....! Who should be blamed for these market failures and monitory losses? It appears to me that, very few manufacturing companies (particularly small and medium scale industries) in Sri Lanka have the ability to understand or may be totally neglected the importance of marketing and as a matter of fact, the failures in the markets are inevitable.

Almost all marketing efforts in some way relates to decisions on who to serve (segmentation) and how to implement positioning (marketing planning/strategy) through the different parts of the marketing mix.

We cannot blame our manufacturers for many reasons of market failures as this is yet another consequence of not having a 'National Policy' on local industries and our country still do not have a proper system to help the small and medium scale manufacturers like in Thailand, Malaysia or even India at large.

Common mistakes

Even a great product or service can fail if the manufacturers/marketers don't do their homework first. Avoiding some common mistakes in product concepts and marketing plans can help companies make sure that, their products enjoy a long and healthy life in the marketplace.

It was very encouraging to our small and medium scale manufacturers when President Mahinda Rajapaksa gave the assurance to implement a 'National Policy' and facilitate our industries as a part of the 'Mahinda Chinthana' with a particular emphasis on market intelligence, quality standards, new technology and better infrastructural facilities.

But how far have we gone with the President's vision and what will be our National Policy with regard to economic advancements .... ? have we better utilised our limited resources under various Ministries and Boards?

What services are rendered by our trade missions attached to Sri Lanka's High Commissions in all the leading countries, markets at large? Are we better off managing these officers/officials help our local manufacturers?

Perhaps answers must be known to all of us and it will be a very wise decision so as to instigate a strategic planning and information division under the purview of the President to help our potentially identified manufacturing industries in the areas of market intelligence, identifying new markets, quality specifications and R&D work.

Sri Lanka has got another great opportunity in the end as the decision of the two main Sri Lankan parties - the ruling Sri Lanka Freedom Party (SLFP) and opposition United National Party (UNP) establishing an alliance.

In this vicious circle, the information written here would be most vital for strategic planners and policy-makers has to move forward with a greater conscience to improve our social and living standards in this country.

To be continued