What Is Marketing?
It’s one thing to run a business, it’s another thing to make a business a success.
Some of the main factors that will help you achieve success are:
In this article we will be talking about Marketing.
Marketing is the practice of raising awareness about your company, acquiring customers and making sure they come back again.
Conversions are not just for preachers
In an age of mass advertising, making your voice heard can be very challenging.
You’ll be competing with many other businesses which are fighting for market share just like you are. Getting yourself out there is going to be a tough battle!
This is where intelligent and effective marketing comes in. You need to draw consumers towards your business and come to prefer it over the competition, a process known as conversion.
You place a poster in the window advertising that customers can purchase a cup of coffee and a slice of cake for £3.
A customer walking by on their lunch break sees this poster.
Enticed by the offer, they enter the building and make a purchase. So satisfied are they by this deal and the service provided, they continue to eat at your café on future lunch breaks.
This is marketing and conversion in action.
Your message is then received by a customer, who considers both these things and is drawn into a decision based on your marketing – the customer is hungry, and you’re offering cheap food.
This is a highly simplified scenario, and to truly maximise on the benefits of marketing you need to properly understand the process and how it should be employed.
Modern Marketing – A Battle for Consumer Loyalty
While it would be nice to live in a world where you can dominate a given market with minimal competition, such a world seldom exists for very long.
Wherever sufficient demand for a product or service exists, people will try to meet it. As such, marketing is basically a competition between various suppliers over securing as high a percentage of that customer base as possible.
Unless you’re in that very happy position of being one of the first companies in a market, such as Apple or Microsoft in computer software and hardware, you will need to make yourself stand out from the rest of the crowd.
This can only be achieved through a well thought-out Marketing Strategy.
The 4 P’s
Product, price, promotion, place.
All of these play into how your marketing will work.
Ask your self some questions:
- What does your product do?
- What do your customers get out of it?
- How is it different to other products of a similar nature; what sets it apart?
- Meanwhile, with price, are you offering the product at a price that is competitive to those of your rivals?
Promotion is the act of giving information to the public, whether broadly or through targeted campaigns, about your product to generate interest and awareness.
Finally, place is about how and where you sell your product. Do you sell directly in stores to local consumers, or are you part of a long international supply chain?
Once all these points have been considered, you can help formulate a proper strategy to help you promote your product and make it known to the markets.
If you need help creating a strategy, click here to speak to me.
Types of Marketing
Social media marketing especially has really revolutionised the marketing industry, and tackling this technique has the capacity to quickly, easily, and cheaply reach millions of consumers.
Recent Case Studies
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