Posts Tagged Marketing
Marketing by definition encompasses many things and the word is often confused with or considered a synonym for, the word advertising. Advertising, like sales or sales training is simply a subsection of marketing. Marketing is the activity and process for creating, communicating, and delivering a product or service that has value for the end user your customer. When completed, your marketing plan will direct sales techniques and provide the process for communicating the values, image and message of your small business. It is used to identify the customer, satisfy the customer, and keep the customer. So where should you begin?
With Market Research, You have to know who the target customer of your business is. Without that, how could you plan advertising or even stock your shelves with the right products? Then as a result of identifying your target customer, analyze your competitive status. For example, if you are going to sell a specific product to a certain customer and another business is currently providing a similar product, what is your competitive advantage that turns the customer to you? Is it price? Better service? Both? How will you effectively communicate that to your prospect?