Marketing Fundamentals
Marketing consists of all activities designed to generate and facilitate any exchange intended to satisfy human needs or wants. More simply put in business terms, activities designed to plan, price, promote and distribute products or services to target markets
4 P's of Marketing
Product - the products or services you offer and are they unique, superior, easier to use
Price - how much to sell your products for, based on your cost and value to potential customers
Promotion - communicating to potential customers to create an awareness of your business
Place - your business location and methods of distributing your products
Why You Need To Market
Marketing is your method of communicating to people that your company, product or service exists. It' no use having the best product in the world if nobody knows about it or about you
Typical Arguments For Not Marketing
I'll alert my competitors to what I'm doing
I don't want to grow too fast
I might look to successful
I don't want to get more business than I can handle
Nice Problems To Have
If your competitors are doing their homework, they already know what you're doing
Your business won't grow at all if you don't market it in some form
Would you rather look unsuccessful?
An abundance of customers is usually better than no customers
10 Common Marketing Methods
There are many methods of marketing, from simple to elaborate and from inexpensive to extremely costly. All or only some of these may be applicable to your business, but you can choose the ones that are and create a powerful marketing strategy. The following list outlines some common marketing and communication methods used by millions of businesses to reach their potential customers:
Print advertising in newspapers, magazines, business journals, community newsletters, etc
Developing sales flyers, brochures or newsletters for distribution to potential customers
Attend trade shows or exhibitions related to your industry, product or business
Press releases and public service announcements in newspapers. Usually free and good exposure
Cooperative marketing efforts (in advertising, etc) with a business that compliments yours
Join community networking groups like your local chamber of commerce or business committee
Join professional associations through your industry, business or personal credentials
Internet marketing is an exciting and inexpensive method of regional, national or global marketing
Telemarketing to potential customers off a list or out of the telephone book
Direct marketing with written correspondence using a list to mail or fax marketing literature
Marketing consists of all activities designed to generate and facilitate any exchange intended to satisfy human needs or wants. More simply put in business terms, activities designed to plan, price, promote and distribute products or services to target markets
4 P's of Marketing
Product - the products or services you offer and are they unique, superior, easier to use
Price - how much to sell your products for, based on your cost and value to potential customers
Promotion - communicating to potential customers to create an awareness of your business
Place - your business location and methods of distributing your products
Why You Need To Market
Marketing is your method of communicating to people that your company, product or service exists. It' no use having the best product in the world if nobody knows about it or about you
Typical Arguments For Not Marketing
I'll alert my competitors to what I'm doing
I don't want to grow too fast
I might look to successful
I don't want to get more business than I can handle
Nice Problems To Have
If your competitors are doing their homework, they already know what you're doing
Your business won't grow at all if you don't market it in some form
Would you rather look unsuccessful?
An abundance of customers is usually better than no customers
10 Common Marketing Methods
There are many methods of marketing, from simple to elaborate and from inexpensive to extremely costly. All or only some of these may be applicable to your business, but you can choose the ones that are and create a powerful marketing strategy. The following list outlines some common marketing and communication methods used by millions of businesses to reach their potential customers:
Print advertising in newspapers, magazines, business journals, community newsletters, etc
Developing sales flyers, brochures or newsletters for distribution to potential customers
Attend trade shows or exhibitions related to your industry, product or business
Press releases and public service announcements in newspapers. Usually free and good exposure
Cooperative marketing efforts (in advertising, etc) with a business that compliments yours
Join community networking groups like your local chamber of commerce or business committee
Join professional associations through your industry, business or personal credentials
Internet marketing is an exciting and inexpensive method of regional, national or global marketing
Telemarketing to potential customers off a list or out of the telephone book
Direct marketing with written correspondence using a list to mail or fax marketing literature