In the broadest sense, marketing incorporates everything about understanding markets (both yours and the ones you have not yet made yours), bringing your product/service to a market, and even developing new markets.
Are you losing sleep, time, and money
because your marketing efforts aren't getting great returns?
To get to the real essence of marketing, as We've mentioned once or twice before, marketing is about producing what you can sell, rather than just selling what you can produce.
Marketing is basically the strategic part of business.
Marketing incorporates or impacts heavily upon all of the following activities:
- Business Development
- Product Development
- Market Development
- Market Research
- Competitor Analysis
- Pricing Strategy
- Public Relations
- Customer Service
- Promotions
- Brand Development
- Company/Corporate Identity
So, now that you see how big and broad marketing truly is, We've probably just scared the heck out of you. Well, sip that drink and joinBurak will offer you start on how to get a handle on it.
Save yourself some time and stop
banging your head against the wall!
Start at the beginningThe foundation of all good marketing is to know your market. That means your customers. The well marketed business is completely customer focused. They identify what the customer wants or needs, and then supply it at a price the customer is prepared to pay.
The customer is always right. That is the classic saying which has fallen from favor in recent years. However it is true. The customer is always right, provided that they are the right customer.
Placing the customer foremost does not always mean having excellent customer service. It means knowing what the customer's priorities are, and making them your own. With that said, providing value, the values that the customer values most, is where the whole secret lies.
Knowing your customersThe tricky part to this is that you really need to know who your customers are and what they want even before you can make them your customers. Bigger businesses literally do this by carrying out extensive market research to find the best balance of the 4 P's of marketing before they go any further.
I'll come back to the 4 P's in a moment if you are not already familiar with them. First however, I want to discuss ways that the small business, even the Sole-Owner business, can do market research. In fact, you probably did some of this yourselves. You ask people you know. "What do you think of this...?", "Would you pay $50 for a service that...", etc.
Do what market research you can, and if that means carrying your own clipboard in the streets, or means trying to find people in your target market to interview, then so be it. Every scrap you glean will stand you in good stead later on.
It is the data you get from knowing your customers, combined with the data from studying your competition in the market that helps you to find a good mixture of the 4 P's
Increase your income and decrease your frustration
The Four P's of MarketingProduct
Price
Place
Promotion
Product is what you are selling. Not just the physical product or the actual service, but all the customer benefits and values that the product represents.
Price is the amount that the customer must pay. This is the acid test of whether the features you added to the product were really valuable, or whether you might have been better to cut a few low-value features out and so be able to offer a lower price.
Place is sometimes thought unimportant to online business. With the internet, all online shops are on the super-highway and equidistant to any customer, and yet people still look for local and regional suppliers.
Promotion is the P that everyone knows Marketing is about. Of course, we are not only talking about advertising in promotions, but also sponsorships, public relations, special offers, viral marketing, and so much more.
Every business, and every product or service, will need its own special blend of those four elements. The cheaper the product and the better your place, the lower the price you can offer. The more attractive a product is for the price, the further people will travel or the longer they'll wait, and the less promotion the product will need.
joinBurak will help you out to get most effective marketing campaigns and material. We will provide you 1-stop solution and you may check out our all solutions to find out more or request a quote.
