Marketing is NOT just advertising and it's NOT just selling.
A good definition of marketing is Anticipating
customer needs, Profitably
The Marketing Mix
You may have heard of 'the marketing mix', or 'the 4 Ps' , these relate to the key marketing activities you need to get right:
Get the PRODUCT right
It’s no good creating the best product in the world if no-one wants it or is prepared to pay for it. Customers may need
your product but it's your job to make them want
It doesn't have to be the best product in the world, or the one with the nicest packaging, or the lowest price. Even a badly delivered product can be successful if it's something customers want.
Get the PRICE right
The price you charge must:
- Be more than your fixed and variable costs
- Be at a level your target audience is willing to pay
- Be consistent with the brand image you want to convey
So if you want a premium quality product charge an appropriately high price. If you’ve got a budget product the price should be low, just make sure you can sell enough of it to make a reasonable profit! Don't think you have to go in cheap when you're starting out just to get some business though - if you set the price too low at the start, it'll be difficult to increase it later on.
Get the PROMOTION right
What to promote
Why should a customer buy from you, what will your product do for them, are your response or delivery times quicker than your competitor's, is your after sales service better? These are examples of unique selling points (USPs). Work out what yourrs are and use them all the time.
Where to promote
Where do your target customers shop, where do they go, where do they live, how and where would they be most likely to hear about your business? Here's some ideas:
- Exhibitions or trade fairs
- Adverts in a newsagent's window
- Glossy magazine adverts
- News features in the local paper
- Leaflets pushed through the door
- On the side of a business van
Sell it from the right PLACE
This depends on your target audience and whether they're local, regional, national or international. You might consider:
Over the phone
- From a retail outlet
- Using direct mail campaigns
- From your website