How to Enter Markets
On September 30, Megan Driscoll, president of PharmaLogics Recruiting came to speak to Babson students and the Butler Venture Accelerator. PharmaLogics Recruiting is located in Boston, MA. Their mission is to be the number one bio-pharmaceutical recruiting company in the world, by placing top talent at companies devoted to the development of medicine that improves and saves lives. Driscoll gave a couple tips about start-ups.
Driscoll started off by discussing the objective of marketing, stating that marketing is to create a buzz and to increase the company awareness. Through marketing, it is important to build a brand so that people can easily recognize the company. Driscoll shared words from her father, “slow down and think things through,” which has stuck with her to this day. She realized that every time before she starts her big project, she needed to slow down and think if it was the right thing to do or if it was even the right path to take. Ever since, Driscoll has adapted this mentality, helping her grow her company by 200 %.
Driscoll mentioned that sometimes the price determines the brand. If the price is too low, then people automatically assume that quality is not going to be good and starts to degrade the product. She said that setting the price is part of marketing. Driscoll emphasized the fact that we live in 21st century and that social media is one of the most important marketing tools. In the old days, people used to read newspapers and magazines but now everything is advertised through online. Driscoll said that it is important to utilize social media. She added that she has a full-time worker who only works in Social Media to make sure that her company is advertising as much as they can. Through social media, people learn about different products and ideas and through the people, the word spreads.
Marketing is a huge aspect in business. Marketing can determine whether your business is going to be successful or not. The more people that you talk to, the more ideas that you will have.