Marketing 101: The Heart Of Every Business
Marketing is indeed the hear of every business, because a good product requires a good marketing strategy to increase your prospective buyers’ interest and attention, thus increasing your sales and revenue. Marketing is generally the umbrella of advertising, promotions, sales and public relations. Imagine yourself as a painter, with great and magnificent artworks, but everything is stocked in a closed room where nobody can see it. Yes, everything you’ve done and worked for will be put to waste, your effort, time and money in buying 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.
It is important to ponder on some important points about marketing such as defining your target population, testing your audience, considering marketing strategies and evaluating those strategies. It is crucial to define your target population so you can create 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 study and evaluate them for you to be able to find the most productive of them all.
The different marketing strategies widely and popularly used include paid advertising, cause marketing, relationship marketing, undercover marketing, word of mouth, internet marketing and transactional marketing. Paid advertising are traditional approaches such as television, radio and print media 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 involves customer referrals from your actual customers. Almost all major businesses utilize internet marketing, also known as cloud marketing, that use various internet platforms in the promotions of products and services. Transactional marketing enhances chances of successful sales through 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.