Sales Blog for Young Engineers and Entrepreneurs Types of Goods with Sales & Marketing Approaches A Lively Conversation between a Father and his Daughter

on 04/03/2024

Once upon a time there lived a young but ambitious girl named Amna. Amna had always been fascinated by the world of business and aspired to follow in her father’s footsteps. Her father, Mr. Abdullah, was the Marketing Director of a renowned blue-chip company. One evening, as Amna sat with her father in their cozy living room.
“Father,” Amna began, “just like you I am also interested in business, and I would love to understand the various types of goods. Can you please explain them to me?”
Mr. Abdullah smiled warmly at his daughter’s curiosity and began to explain.
He started with convenience goods, describing them as easily accessible products that are frequently purchased and require minimal effort for consumers to obtain. He mentioned snack foods like chips, candy bars, and soft drinks, which can be found in convenience stores and vending machines. He also mentioned personal care products like toothpaste, shampoo, and soap, which are readily available in most supermarkets and drugstores.
Amna listened intently, her eyes sparkling with excitement. She was eager to learn more.
Mr. Abdullah then moved on to consumer goods, explaining that these encompass a wider range of products purchased for personal use, satisfaction, or enjoyment. He gave fascinating examples like electronics, such as smartphones, laptops, and televisions, which are more expensive and purchased for long-term use and entertainment. He also mentioned clothing and apparel, highlighting how they cater to personal style and fashion preferences, allowing individuals to express themselves.
In between he also touched upon Shopping Goods and Specialty Goods! Specialty goods have particularly unique characteristics and brand identifications for which a significant group of buyers is willing to make a special purchasing effort. Examples include specific brands of fancy products, luxury cars, professional photographic equipment, and high-fashion clothing. A restaurant’s best dish would be its specialty.
Next, Mr. Abdullah delved into consumer durables, describing them as products with a longer lifespan intended for repeated use over an extended period. He mentioned appliances like refrigerators, washing machines, and ovens, which are essential for daily household activities. He also mentioned electronics like televisions, smartphones, and laptops.
As the conversation progressed, Mr. Abdullah explained capital goods, which serve a distinct purpose in the production of other goods and services. He mentioned machinery and equipment, buildings and infrastructure, vehicles for business use, and technology and software as examples. He emphasized that these assets are investments made by businesses to enhance productivity, efficiency, and overall operational capabilities.
Finally, Mr. Abdullah touched upon commodities, describing them as raw materials or primary agricultural products that can be bought and sold. He mentioned energy commodities like crude oil and natural gas, precious metals like gold and silver, agricultural commodities like wheat and corn, and industrial metals like copper and aluminum.
As the evening drew to a close, Amna thanked her father for his insightful explanations. She felt a renewed sense of purpose and determination to pursue her dreams in the world of business. She also understood that as nature of goods varies from convenience to capital, how the focus of sales and marketing efforts varies accordingly from promotion (pull marketing) to personal selling (love marketing)!

NUST to organize ‘Women in Climate Action – Celebrating Resilience’

on 04/03/2024

The National University of Science and Technology (NUST) in collaboration with GIZ Pakistan, Gender In¬tersectionality and Climate Change (GICC) is arranging a mega event titled “Women in Climate Action – Celebrating Resilience” on the occasion of International Women’s Day on March 08. This empowering event will be organized at a local hotel to recognize and applaud the significant contributions of women in climate action, emphasizing their leadership, innovation, and impact on creating sustainable and climate-resilient communities.
The researchers, climate heroes, academia, and individuals from the development sector have been called to participate in the event featuring panel discussions, success stories, stalls showcasing women-led initia¬tives, and art and photo exhibitions.
According to an official of NUST, the event would feature an insightful panel discussion, a successful storytelling session, an articles writing competition, and an art and photo exhibition in addition to project and product exhibits. The insightful panel discussion will be aimed at providing a comprehensive understanding of the multifaceted challenges and opportunities women face within the realm of climate action. The success storytelling session will highlight the women doing notable work in cli¬mate action and give them a platform to narrate their stories and experi¬ences and the hardships they have faced in their tremendous efforts.
The art and photo exhibition will feature captivating visuals of women from various backgrounds, cultures, and professions, the display will high¬light the collective power they har¬ness in addressing climate challenges. The project and product exhibits will feature dedicated stalls of the proj¬ects and products by women-led ini¬tiatives, related to environmental sus¬tainability and climate action giving women a platform to accentuate their efforts. The article writing competi¬tion, being arranged in collaboration with the GICC is aimed at stimulating thoughtful discourse on the intersec¬tionality of gender and climate resil¬ience. All voices of Pakistan have been invited to become part of its efforts to amplify the importance of Women in Climate Action by participating in an `Article Writing Competition’. The last date for submission of the ar¬ticles was February 29. The details of the event can be accessed through the website: gicc.nust.edu.pk

Chipmaker TSMC’s first plant to reboot Japanese industry

on 04/03/2024

Chipmaker TSMC formally opened its first Japanese plant last month highlighting the Taiwanese firm’s critical role in Tokyo’s multi-billion dollar efforts to reboot its once-mighty semiconductor manufacturing industry.
That Japan turned to TSMC for help on an industry it once dominated reflects the Taiwan chipmaker’s dominant position in the foundry business and Tokyo’s heightened concern over China’s growing prowess in a wide swathe of technology.
The arrival of TSMC, the world’s leading contract chipmaker, in Japan is seen as having sparked investment across a sector vital to economic security even as the government eyes a greater prize with its backing for homegrown foundry venture Rapidus.
“The possibility of having TSMC build a fab in Japan really rallied support from disparate parts of the semiconductor industry,” said Damian Thong, head of Japan research at Macquarie Capital Securities.
“They have built a snowball effect around it,” he said.
By 2027, Taiwan is projected to control two-thirds of foundry capacity for advanced processes as its lead is eroded by aggressive expansion in the U.S., according to research firm TrendForce, with Japan increasing its global share to 3%.
TSMC, which is also building capacity in the U.S. and Germany, is targeting mass production at the fab later this year and has announced plans for a second plant, bringing total investment in the venture to more than $20 billion.
Partnering with companies including Sony and Toyota monthly capacity across the two fabs will exceed 100,000 12-inch wafers, strengthening Japan’s access to chips, which are essential for the electronics, automotive and defence industries.
TSMC sees Japan as a natural fit with an industrious work culture suited to chipmaking and a government that is easy to deal with and generous with subsidies, Reuters has reported.
Japan has also benefited from Taiwan’s willingness to approve the export of foundry and supply chain technology, particularly for advanced node technologies below 16 nanometres, said David Chuang, an analyst at Isaiah Research.
“With the prospect of fabricating more advanced roadmaps in Japan, it’s reasonable to expect that foundry customers may be more inclined to commit to long-term development and procurement of capacity,” said Chuang.
Japan can leverage its expertise in areas such as photoresists – chemicals that are needed for chipmaking – image sensors and packaging, which is becoming increasingly important to eke out chip performance gains, said Joanne Chiao, an analyst at TrendForce.
Momentum in Japan’s chip sector is growing, with Taiwan chip companies arriving in Japan not only to support the TSMC plant but also being attracted by the industry’s renewed dynamism, Reuters has reported.
ECONOMIC BOOST
In the chipmaking hub on the southern island of Kyushu where TSMC’s plant is located, companies ramping up investment include power chip maker Rohm wafer maker Sumco and equipment maker Tokyo Electron.
The regional economic boost is forecast to hit 20.1 trillion yen ($134 billion) over a decade, according to the Kyushu Economic Research Center, with activity rippling out from fabs being constructed and run, and from consumption by workers.
A major bottleneck is labour shortages, said Soei Kawamura, a researcher in the business development department at the centre.
“Large companies like TSMC and Sony will be able to secure the necessary personnel, but the economic development of the Kyushu region will change depending on how many people can be recruited in the local semiconductor-related and other industries,” he said.
The number of workers in Japan’s chip-related businesses has declined by around a fifth over the last roughly two decades.
Leading domestic chip firms need to find 40,000 workers over a decade, according to estimates from the Japan Electronics and Information Technology Industries Association (JEITA).
Tokyo’s grander vision is of building a homegrown champion through foundry venture Rapidus, which is headed by industry veterans and targeting mass production of cutting-edge chips on the northern island of Hokkaido from 2027.
A potential rival to TSMC, which has spent decades honing its processes, Rapidus is partnering with IBM and chip research organisation Imec. But its prospects for success are viewed with scepticism by many in the industry.
“I don’t doubt TSMC will be dominant, but Japan will seek to prove that they are valid as a number two,” said Macquarie’s Thong.

Clean technologies slow down CO2 emissions from energy

on 04/03/2024

Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous years thanks to the continued expansion of clean technologies, the International Energy Agency said this week.
CO2 emissions from energy rose by 1.1 percent in 2023, increasing by 410 million tonnes to a record 37.4 billion tonnes, slowing down from a gain of 490 million tonnes in 2022, the IEA said in its annual update on emissions.
The IEA said that without technologies such as solar panels, wind turbines, nuclear power, and electric cars, the global increase in energy-related CO2 emissions over the last five years would have been three times larger the 900 million tonnes registered.
Over 40 percent of last year’s increase in carbon emissions from energy resulted from severe droughts in China, the United States, India and elsewhere which cut hydroelectric output and forced utilities to resort to fossil fuels.
Without the water shortfalls, global carbon emissions from power generation alone would have fallen last year.
Energy carbon emissions rose in China and India in 2023, while advanced economies saw a record fall even as their economies grew. Their emissions dropped to a 50-year low as coal demand fell back to levels not seen since the early 1900s.
For the first time last year, at least half the power generated in advanced economies came from low-emissions sources like renewables and nuclear.
Even as China’s emissions grew, it added as much solar PV capacity in 2023 as the entire world did in 2022.
“The clean energy transition has undergone a series of stress tests in the last five years – and it has demonstrated its resilience,” said IEA Executive Director Fatih Birol.
“A pandemic, an energy crisis and geopolitical instability all had the potential to derail efforts to build cleaner and more secure energy systems. Instead, we’ve seen the opposite in many economies.” – ERMD/AFP

Challenges for Businesses in Pakistan

on 29/02/2024

Businesses operating in Pakistan confront a myriad of obstacles including inadequate infrastructure, energy deficits, political volatility, corruption, restricted financial access, skill shortages, market fragmentation, intricate tax systems, security risks, and environmental concerns.
Resolving these challenges necessitates cooperative endeavors from both the public and private sectors, involving policy enhancements, infrastructure investments, governance fortification, and the creation of a more favorable business environment. There are also some notable challenges and problem areas that need to be considered.
INFRASTRUCTURE
Pakistan’s infrastructure deficit is significant, with the World Bank estimating that the country needs to invest around $31 billion annually in infrastructure to bridge the gap. Inadequate infrastructure can result in productivity losses of up to 3.5% of GDP annually.
Energy Shortages: Pakistan faces a substantial energy shortfall, with peak electricity demand exceeding supply by around 5,000 to 7,000 megawatts. The energy crisis results in economic losses estimated at approximately 2% to 4% of GDP annually.
POLITICAL INSTABILITY
Pakistan has experienced periods of political instability, which can deter foreign direct investment (FDI) and disrupt business operations. The country ranked 134th out of 190 countries in the World Bank’s Ease of Doing Business Index in 2020.
CORRUPTION & BUREAUCRACY
Corruption is widespread in Pakistan, with the country ranking 120th out of 180 countries in Transparency International’s Corruption Perceptions Index. Bureaucratic red tape and inefficiencies contribute to delays in obtaining permits and licenses, impacting business operations.
ACCESS TO FINANCE
According to the World Bank, only around 7% of adults in Pakistan have access to formal financial services. The credit gap for small and medium-sized enterprises (SMEs) in Pakistan is estimated to be around $3.6 billion.
SKILL SHORTAGE
Pakistan faces a skills gap across various sectors, with the World Economic Forum’s Human Capital Index ranking the country 134th out of 157 countries. Around 23 million children in Pakistan are out of school, contributing to the skills shortage.
INFRASTRUCTURE FOR INNOVATION
Pakistan lacks a robust innovation ecosystem, with only a few incubators and accelerators in operation. Research and development spending in Pakistan is relatively low, accounting for around 0.29% of GDP.
TAXATION & REGULATORY ENVIRONMENT
Pakistan has a complex tax system, with a high corporate tax rate of 29%, which can deter investment. Compliance with tax regulations can be challenging, with tax evasion estimated to be around 70% of total tax liabilities.
MARKET FRAGMENTATION
Pakistan’s market is fragmented, with around 60% of the population residing in rural areas. Cultural and linguistic diversity presents challenges for businesses in reaching customers effectively across different regions.
ENVIRONMENTAL SUSTAINABILITY
Pakistan faces significant environmental challenges, including air pollution levels that exceed World Health Organization (WHO) guidelines by up to five times in some cities. The economic cost of environmental degradation in Pakistan is estimated to be around 6% of the GDP annually.
In the current environment in Pakistan, addressing challenges such as infrastructure deficits, energy shortages, political instability, corruption, and skill shortages requires a multifaceted approach involving government policies, private sector initiatives, and civil society engagement. Solutions include investment in infrastructure, diversification of energy sources, governance reforms, skills development, streamlining regulatory processes, improving access to finance, promoting innovation and entrepreneurship, implementing environmental sustainability measures, enhancing regional cooperation, and fostering community engagement and social responsibility. Collaborative efforts from stakeholders across sectors are crucial for creating a conducive business environment and fostering sustainable economic development in Pakistan.