Louis Olivieri

Marketing Specialist

Louis Olivieri is a marketing specialist having practiced the profession in Malta since 1988. Louis was responsible for launching and developing a number of internationally known brand names, growing them to become leaders on the Maltese market. At the same time, he developed marketing departments and staff. In 2006, he ventured into his private practice as a marketing and business development consultant. Since then, he has worked for a number of organisations in different market sectors. Louis is a Business Management graduate and a Chartered Marketer. In parallel to his private practice, he takes various initiatives to give a contribution to the development of the marketing profession. Among others, Louis set up The Chartered Institute of Marketing Malta Branch, launching it in 2009 and chairing it until 2015. He also Chairs the Marketing Committee within the Malta Chamber of Commerce, Enterprise and Industry.

Defining a product from a marketing perspective

Monday 02nd January 2017

Whilst most businesses carry out a number of effective marketing initiatives, the mindset of business leaders is on how a product or service is going to be sold – but even here it is essential to be clear on what we are selling.

Organisations are not in the business of the products and services they offer but rather in the business of identifying and communicating with the customers their products are addressed to i.e. their market segments. This is because if a business is out there to make money, it needs to find and communicate with clients having the need and/or want to purchase it and the willingness to fork out the money. In actual fact, the organisation invests capital in its products which it intends to sell and therefore how, where and to whom to sell it is the crux of the business. The concept is similar with non-profit making organisations in making their cause known and supported.

From the marketing lens, every product or service is essentially satisfying needs, wants and expectations of the end consumers. Thus, one can appreciate that it would be wise for a business to determine what these are, as it will give a better direction on how and where to promote and sell them. For example, distinguishing between communication with the customer (parent who is paying the money) and consumer (a child who asked for a chocolate) or a purchaser of a car and its driver. In addition consumers give value to different products and services. Understanding what and how much consumers value what organisations offer are sensible leads to establish pricing policies, to what extent and where to promote and distribute the products and services.

Also from a marketing viewpoint, a product or service is composed of various features and elements which the client or consumer may expect. To mention a few examples, there is security and peace of mind when people invest in an alarm and CCTV system, insurance and life policies. When buying a designer garment people may feel smart, proud, as if they are making a statement or simply get a ‘feel good’ factor. Today, when buying a car, drivers also look for connectivity.

Even an example like writing instruments could satisfy different needs, wants and requirements. There is reliability when these are needed for drawing and sketching, complementing a professional look for executives; fun, colour and portraying popular characters for children. When eating out, restaurant patrons look for different elements such as the quality of the food, level of service, ambience, among others. On a more individual level, when designing and furnishing a residence, it is giving all that it entails to turn a house into a home.

In addition, a product has a life cycle. An awareness and study of where the products or service offered stand on the market (e.g. how long the fashion or trend for them will take, how long it will take for new technology to be introduced) is also vital to plan the future with commercially viable decisions.

Miriam Sultana

Head of Economics Advisory, PKF Malta

Venture Capital – Not Just A Cinderella Story For Start-Ups

March 2018

The concept of venture capital has proven to be one of the most successful financing concepts in the United States, much to the envy of the rest of the world.

Daniel Bugeja

Business Doctor

The Importance of Good Succession Planning for Business Survival

March 2018

How dependent on you is your business? Would it operate as efficiently without your constant presence?

Rebecca Agius

Business Analyst, BEAT

Getting things done, the best way possible

February 2018

An organisation is built on the three pillars of people, technology and process.

Daniel Bugeja

Business Doctor

Three Key Factors To Successful Strategic Planning

February 2018

Strategic planning is an essential dogma for successful businesses. However, simply creating a great plan does not mean that it will be a lucrative one, especially when it comes to putting it into action.

Daniel Debono

EU affairs manager, Head of Brussels operations, Malta Business Bureau

Putting Education Back On The EU's Agenda

February 2018

The European Commission has published a new education package comprising of three proposals that seek to improve European citizens’ skills.

George Mangion

Senior Partner, PKF Malta

PKF Invites Members To Visit The CIC Thought Leadership Centre In Rotterdam

February 2018

PKF has the pleasure and privilege of inviting interested persons to visit the Cambridge Innovation Center (CIC) Thought Leadership centre in Rotterdam, the Netherlands.