From time to time on this forum various parts of the marketing process get a mention, but marketing should always be considered as a whole.
Marketing is a generally misunderstood term. Most people think that marketing = advertising, but that is only a part of the marketing process.
It begins with developing the concept, i.e., the idea of a product or service, but also understanding how that product or service provides value in the marketplace, otherwise the concept would have no value.
That is an important factor in market research, with the other major component of that research being to determine whether or not there is a demand for the product. If that vital step is missed it can lead to failure. It should include studying the potential demographic to target. What makes them tick? Get inside their heads.
Also included as part of a marketing plan should be logistics, from product development through acquisition, to delivery to the customer. See what can happen if all the things mentioned above and the list below aren’t dealt with early on.
Questions welcome.
Walter
Marketing is a generally misunderstood term. Most people think that marketing = advertising, but that is only a part of the marketing process.
It begins with developing the concept, i.e., the idea of a product or service, but also understanding how that product or service provides value in the marketplace, otherwise the concept would have no value.
That is an important factor in market research, with the other major component of that research being to determine whether or not there is a demand for the product. If that vital step is missed it can lead to failure. It should include studying the potential demographic to target. What makes them tick? Get inside their heads.
Also included as part of a marketing plan should be logistics, from product development through acquisition, to delivery to the customer. See what can happen if all the things mentioned above and the list below aren’t dealt with early on.
- A great concept but extremely difficult and costly to make.
- Simple and low cost to make, but no trustworthy manufacturers to produce it.
- Potential supply chain problems take you by surprise.
- Advertising in its various forms. Emails, Cold Calls, Social Media, Direct Mail (yes Snail Mail!)
- What methods will be used to make sure the message is seen? Not only PPC ads, posting on IG, FaceBook, Pinterest, etc. It extends to design of listings on sites such as Amazon or eBay, and design of eCommerce websites.
- Branding in all its parts. Business name, Brand Name, Motto, Logo, Color schemes, Labeling and Packaging. These should be seen as advertising. They can be silent salesmen.
- Delivery to customers.
- After-sales reinforcement of the customer’s buying decision.
Questions welcome.
Walter
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