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What Do I Need to Know About Marketing?

Guest post by: Mash Bonigala

Article Overview: The American Marketing Association defines marketing as “the process of planning and executing to create exchanges that satisfy individual or organizational objectives.” But how does that relate to me. As a small business do I really have the resources to complete an effective marketing campaign? Well, I do want my potential customers to hear about the services I offer. So, I guess I had better do some kind of marketing.

What Do I Need to Know About Marketing?

The American Marketing Association defines marketing as “the process of planning and executing to create exchanges that satisfy individual or organizational objectives.” But how does that relate to me. As a small business do I really have the resources to complete an effective marketing campaign? Well, I do want my potential customers to hear about the services I offer. So, I guess I had better do some kind of marketing.

Market Research

The first question I ask I want to ask myself is who my customers are. Who are my existing customers and how would I describe them? What kind of people are they? Where are my customers located? When I look for potential customers I know they will most likely have some similarities to my existing customers. If I want to attract a different type of customer base they I should ask myself why, and who are they?

I should also ask questions about the available market for my product. Am I offering the right product, for the right place, at the right price, and in the right amounts? There are many organizations and tools out there to complete this research. Economic development organizations, chambers of commerce, and trade groups all have relevant information to share. In addition I should also complete research about my competition.

The Marketing Plan

To complete a marketing plan I first need to figure out what I have available for a budget. The next step, will be deciding where, in what markets, I want to direct my marketing campaign. I want to have a clear description, including pricing, of the products and services I desire to promote. I will need to decide how I will distribute my message. Once I have established that baseline information I will begin the task of creating the promotional message.

In order to design an effective advertisement I need to understand my customers. I should find out what they like and don’t like. I need to react to the information they give me rather than simply guess at what might reach my customers.

Some inexpensive ideas for promoting products include:

• Writing an article about my community and how my business adds value to that community. Local newspapers, and online outlets, will usually distribute these articles free of charge.
• Having an online presence and making sure my products are searchable.
• Starting a blog. There are over 100 million blogs and they can be excellent at reaching very specific customers.
• Offer free samples and gifts. Everyone loves a freebie and this is a great way to entice new customers to try out a product.
• Offer demonstrations and seminars, give out good information and close with the sale.
• Have signs in great locations. It is easy to forget about this basic option, but even in this computer age it works to have your name out there getting noticed.
• Provide coupons to other businesses, and in the phone book.
• Learn from others. Always keep your eye out for how others promote their business. Someone always gets their idea out their first. If you can’t be the first one on a new trend try to be the second.

I guess it is time for me to get to work on this! I am going to find out why my customers love my product and use that information to begin a promotional strategy. Before I spend the money to implement my new ideas I will also run them by my trusted friends in the business.

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Article Tags: american marketing association, effective marketing, marketing campaign, organizational objectives, small business



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