Marketing 101: Increasing Awareness and Understanding About Business Marketing
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 a valuable tool for a business to succeed with the help of advertising, promotions, sales and public relations. As a business owner, try to imagine yourself as a painter, with great and magnificent artworks, but everything is stocked in a closed room where nobody can access 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 venture, your efforts should not stop creating or manufacturing your best products and services, you need to spice up your journey to success by having 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. 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. Evaluating your marketing strategy is important after setting and implementing them to gauge if it is productive or no, so you can shift or make changes as needed.
Some of the popular and widely used marketing strategies include 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. Some companies links their products and services for a social cause, which is a huge part of cause marketing or cause related marketing. Relationship marketing is creating customer connection, improving customer experience, and 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 that uses various internet platforms. Transactional marketing enhances chances of successful sales through the use of voucher coupons, discount cards and huge events. Diversity marketing involves customization of different marketing strategies basing on specific aspects such as beliefs, culture, attitudes, views and gender preference. Marketing is allowing people to become aware of your products and services, create specific needs and be able to address those needs.
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