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Global Competition, Where do I Place?

Written by: Tom Parsley

Article Overview: Your product is not unique. Likely there is global competition thanks to the Internet for every industry imaginable. In order to see results of your marketing efforts you must advertise globally via the Internet. Websites are becoming a predominate way to find useful information on any product or service. When focusing your marketing efforts to in whatever media advertising you choose, keep in mind the four P’s of marketing: Price, Product, Place, & Promotion.

Global Competition, Where do I Place?

Your product is not unique. Likely there is global competition thanks to the Internet for every industry imaginable. In order to see results of your marketing efforts you must advertise globally via the Internet. Websites are becoming a predominate way to find useful information on any product or service. When focusing your marketing efforts to in whatever media advertising you choose, keep in mind the four P’s of marketing: Price, Product, Place, & Promotion.

• Price – How are your price points different from any other company? In order to have success with your product or service you must have a reasonable pricing model. Most individuals base their decision upon the pricing used. If the customer can get the same product or service for a cheaper rate, you will loose their business. In order to competitive in the marketplace, a business owner must know where the competition stand and simply keep one toe ahead of them. Make your pricing comparable within the industry.

• Product – How is your product different from competitors? Your industry/product is not unique. With the global competition of the Internet, there are many products and service available to customers at their fingertips. In order to have a successful business plan, it all begins with a strong product that will grasp the interest of customers. Know your product well and constantly be changing and adapting your product/ service to what the industry is looking and asking for.

• Place - Is your product/service something that can be sold nationwide or even worldwide? With the power of the Internet you can advertise and market to a whole different group of people via the online marketplace. Market and advertise your product or service where appropriate. I strongly suggest having a website even if your product cannot be sold worldwide. Many people turn to the Internet simply for information on a product or service. The more exposure you gain the greater effects you will see.

• Promotion – Is your product known in the industry? Within the promotion industry, also keep in mind who is your target market and what do they want to see from you. If you have a franchise opportunity you would like to advertise I recommend The Business Market. Outsourcing is one of the best ways to accomplish a number of goals with limited resources.

Market your product or service on more than one avenue. This means to hit the same market with email blasts and print media or a phone call. In order to see results world wide you will need to develop a useful website. Websites are an essential took in today’s industry. If you don’t already have a website, that should be a priority on your list of things to accomplish. Keep in the mind the four P’s of marketing and always strive to make your customers happy.

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Article Tags: business owner, business plan, fingertips, global competition, internet websites, marketing efforts, marketplace, media advertising, pricing model, prod, promotion price, successful business



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