Marketing 101: The Heart Of Every Business
Yes, marketing is considered the heart of every business, because no matter how good quality your product is, it will not sell if you have a poor marketing strategy. Marketing is generally the umbrella of advertising, promotions, sales and public relations. As an analogy, try to imagine yourself as a painter, with great and magnificent artworks, but everything is stocked in a closed room where nobody can access or see it. Yes, all your efforts will be wasted, and more importantly your time and money spent on your painting materials. Same is true with any business journey, your efforts should not stop creating or manufacturing your best products and services, you need a solid marketing strategy for people to know, understand and purchase your goods.
The important points you need to ponder for marketing include defining your target population, testing your audience, considering marketing strategies and evaluating those strategies. Defining your target population sets the proper demographics to help you select the best marketing plan appropriate for your business. Creating a hypothetical process of purchasing to test your audience is essential, because it is a way to know their buying behaviors and its patterns so you can choose the best and appropriate marketing strategies needed to promote your business. Once you have set and implemented your marketing strategies, it is important to make a thorough evaluation, so you can shift or make changes as needed.
Some of the marketing strategies you can use are paid advertising, cause marketing, relationship marketing, undercover marketing, word of mouth, internet marketing and transactional marketing. Traditional methods of advertising such as television, radio and print media advertising are called paid advertising. Cause marketing is also known as cause related marketing, that links the different products and services of a company for a social cause. Relationship marketing involves creation of deep customer connection, for the improvement of customer experience, geared towards gaining customer trust and loyalty. For undercover marketing, customers are not fully aware that a marketing strategy is applied, so it is otherwise known as stealth marketing. Word of mouth comes in the form of referrals from actual customers who purchased your products and services. Internet marketing is also referred to as cloud marketing, popularly utilized because majority of the world’s population use the internet. Transactional marketing involves the use of voucher coupons, discount cards and huge events. Diversity marketing customize marketing strategies based on unique aspects such as beliefs, culture, attitudes, views and other specific needs. Marketing is the lifeblood of a business, allowing people to know your products and services.
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