With a little study we can see that there are several concepts and misconceptions about marketing that need to be addressed before we get into the meat of this article. The basic concept of marketing is 'the diversity of activities used in assuring that we are meeting the needs of our clients and that we are getting a valuable return in response.' A major misconception of marketing is that it only entails 'advertising your product or service.' Advertising is important, however, it is only one component in the process of marketing.
We can define the core meaning of marketing as 'understanding' your clients' needs and 'developing' a plan that effectively addresses those needs. By understanding marketing in this way, a business owner who desires to see his business 'grow' can set the proper goals.
What is meant by 'organic growth?' This is a wonderful concept. Your business is a living organism and, as a living organism, it must be cultivated and nurtured. We can ignore its needs and let it fend for itself or we can determine those needs and do whatever is best to make it thrive.
We should look at two basic components of marketing in order to get a better idea of the things that we need to create a successful business. The first component of marketing that we need to consider is 'developing a marketing plan.' The second component is the 'ongoing promotion.' One mistake that many business owners make is to create a product or service and immediately jump into an advertising campaign. When we define these two basic components, you'll understand why this mistake can be a disappointing and costly one.
For the survival of your business, it is extremely important to develop a 'marketing strategy' or 'marketing plan.' Refined research and analysis are the first steps to developing the 'marketing plan' best suited to your business. Don't let this frustrate you. This is not as grueling as it sounds. It may take some time and effort on your part but you will find that it is well worth every minute.
To help us get started, let's begin by looking at a simplified explanation of 'marketing analysis.' We should apply two of Solomon's Keys to Success at this point.
Proverbs 1:5 (NLT) "Let the wise listen to these proverbs and become even wiser. Let those with understanding receive guidance" Guidance or wise counsel can be found in many forms. We should also remember, for those of us who think we understand everything, " Fools think their own way is right, but the wise listen to others." Proverbs 12:15 (NLT) In a nutshell marketing analysis involves the following:
A well planned market analysis contains the following:
1.) Discover which groups of potential customers (or markets) there are,
2.) Determining our 'target market' or which groups of customers that we prefer to serve,
3.) Determine the needs that they have,
4.) Choosing the best products or services that might meet the needs of our target market,
5.) Determining the uses our potential clients might have for our products and services,
6.) Understanding what our competitors are doing,
7.) Determine the pricing structure that best fits your product and/or service and
8.) Deciding how we should distribute our products and services to our target markets.
There are numerous methods of 'market research' that can be used to gather information concerning markets, target markets and customer needs, competitors' products, etc. The ease of Internet research will reveal many sources of specific information. We must target our searches on the Internet search engines. This can be accomplished by beginning from a broad area of possibilities and with each subsequent search get more specific until we have discovered as much as possible about our market in general and specifically our target market. The resulting information will determine our 'niche' market, our specific area of a market that is best for our product or service.
When you have successfully developed your marketing plan, look at your 'ongoing promotions', which may include advertising, press releases, public relations, sales materials and customer service to name only a few. These terms can become confusing: advertising, marketing, promotion, public relations and publicity. These terms are often used interchangeably. They refer to different -- but similar tasks.
Look at a list of simplified definition of each term.
1.) Advertising -- effectively presenting a product (or service) to potential and current customers. Advertising must be focused on one particular product or service. This demonstrates that an advertising plan for one particular product or service might not work for another product or service. Advertising is done with signs, brochures, commercials, direct mailings or e-mail messages, personal contact, website banners, etc.
2.) Promotion - Promotion is keeping our product in the minds of our client (product recognition). Our ongoing efforts in advertising and public relations are often considered elements of promotions.
3.) Public relations -- Public relations is ongoing activities that ensure your product or service has a strong and positive public image.
4.) Publicity -- Publicity is public or 'media' attention, whether favorable or not. These are the review that others present of your product or service and can include news releases. These are only a few terms that are good to learn.
These are a few of the many terms that need to be learned. The health and well being of our business, your business, is determined by the extent of diligent study that you do and the application of the principles that you learn through study. To best know your product or service or clients or competitors, you must develop a sincere determination to become as diligent as possible.
Memorize these success principles found in Solomon's Proverbs to help you develop a growing and successful business.
Proverbs 10:4 (The Amplified Bible) "He becomes poor who works with a slack and idle hand, but the hand of the diligent makes rich."
Proverbs 12:24 (NLT) "Work hard and become a leader; be lazy and become a slave."
Proverbs 13:4 (NASB) "The soul of the sluggard craves and gets nothing, but the soul of the diligent is made fat."
Proverbs 21:5 (NASB) "The plans of the diligent lead surely to advantage, but everyone who is hasty comes surely to poverty."
Memorize this last Proverb. It will help you to focus on the tasks at hand.
We can define the core meaning of marketing as 'understanding' your clients' needs and 'developing' a plan that effectively addresses those needs. By understanding marketing in this way, a business owner who desires to see his business 'grow' can set the proper goals.
What is meant by 'organic growth?' This is a wonderful concept. Your business is a living organism and, as a living organism, it must be cultivated and nurtured. We can ignore its needs and let it fend for itself or we can determine those needs and do whatever is best to make it thrive.
We should look at two basic components of marketing in order to get a better idea of the things that we need to create a successful business. The first component of marketing that we need to consider is 'developing a marketing plan.' The second component is the 'ongoing promotion.' One mistake that many business owners make is to create a product or service and immediately jump into an advertising campaign. When we define these two basic components, you'll understand why this mistake can be a disappointing and costly one.
For the survival of your business, it is extremely important to develop a 'marketing strategy' or 'marketing plan.' Refined research and analysis are the first steps to developing the 'marketing plan' best suited to your business. Don't let this frustrate you. This is not as grueling as it sounds. It may take some time and effort on your part but you will find that it is well worth every minute.
To help us get started, let's begin by looking at a simplified explanation of 'marketing analysis.' We should apply two of Solomon's Keys to Success at this point.
Proverbs 1:5 (NLT) "Let the wise listen to these proverbs and become even wiser. Let those with understanding receive guidance" Guidance or wise counsel can be found in many forms. We should also remember, for those of us who think we understand everything, " Fools think their own way is right, but the wise listen to others." Proverbs 12:15 (NLT) In a nutshell marketing analysis involves the following:
A well planned market analysis contains the following:
1.) Discover which groups of potential customers (or markets) there are,
2.) Determining our 'target market' or which groups of customers that we prefer to serve,
3.) Determine the needs that they have,
4.) Choosing the best products or services that might meet the needs of our target market,
5.) Determining the uses our potential clients might have for our products and services,
6.) Understanding what our competitors are doing,
7.) Determine the pricing structure that best fits your product and/or service and
8.) Deciding how we should distribute our products and services to our target markets.
There are numerous methods of 'market research' that can be used to gather information concerning markets, target markets and customer needs, competitors' products, etc. The ease of Internet research will reveal many sources of specific information. We must target our searches on the Internet search engines. This can be accomplished by beginning from a broad area of possibilities and with each subsequent search get more specific until we have discovered as much as possible about our market in general and specifically our target market. The resulting information will determine our 'niche' market, our specific area of a market that is best for our product or service.
When you have successfully developed your marketing plan, look at your 'ongoing promotions', which may include advertising, press releases, public relations, sales materials and customer service to name only a few. These terms can become confusing: advertising, marketing, promotion, public relations and publicity. These terms are often used interchangeably. They refer to different -- but similar tasks.
Look at a list of simplified definition of each term.
1.) Advertising -- effectively presenting a product (or service) to potential and current customers. Advertising must be focused on one particular product or service. This demonstrates that an advertising plan for one particular product or service might not work for another product or service. Advertising is done with signs, brochures, commercials, direct mailings or e-mail messages, personal contact, website banners, etc.
2.) Promotion - Promotion is keeping our product in the minds of our client (product recognition). Our ongoing efforts in advertising and public relations are often considered elements of promotions.
3.) Public relations -- Public relations is ongoing activities that ensure your product or service has a strong and positive public image.
4.) Publicity -- Publicity is public or 'media' attention, whether favorable or not. These are the review that others present of your product or service and can include news releases. These are only a few terms that are good to learn.
These are a few of the many terms that need to be learned. The health and well being of our business, your business, is determined by the extent of diligent study that you do and the application of the principles that you learn through study. To best know your product or service or clients or competitors, you must develop a sincere determination to become as diligent as possible.
Memorize these success principles found in Solomon's Proverbs to help you develop a growing and successful business.
Proverbs 10:4 (The Amplified Bible) "He becomes poor who works with a slack and idle hand, but the hand of the diligent makes rich."
Proverbs 12:24 (NLT) "Work hard and become a leader; be lazy and become a slave."
Proverbs 13:4 (NASB) "The soul of the sluggard craves and gets nothing, but the soul of the diligent is made fat."
Proverbs 21:5 (NASB) "The plans of the diligent lead surely to advantage, but everyone who is hasty comes surely to poverty."
Memorize this last Proverb. It will help you to focus on the tasks at hand.
About the Author:
Learn King Solomon's Keys for Success and how to apply them to your life at Rev. Bobby's The Christian Success Institute. Acquire the expertise that has produced thousands of rich and successful entrepreneurs. Earn while you learn.
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