Why Poor Marketing Can Mean Graveyard for Your Business Future ?
Marketing is Everything for Your Business. No Marketing means No Business.
Its Literally mean that Your Business is Going to the Grave yard real soon.
Imagine that you have invented a fantastic product. Or just have a product which is a great product or a service.You are sure that once someone sees it and understands what it does, they will be willing to pay any price to buy it.
You decide to sell your product.
You wait for someone to come along and hear the benefits of your superb product and buy it.
You wait …
Unless you have Customers, your superb product isn’t going to be sold or generate any money.
To have customers, you need to communicate with your target audience, your prospects and attract them to your shop/ website/ point of purchase. Then you need to communicate the benefits of your product to them, indicate that it is for sale, indicate the price. Only then can you expect a sale. Only if you have sales will you get any revenue. Only then are you truly “in business”.
The process of communicating to your prospects in its entirety, is “Marketing.”
As is obvious from our example here, Marketing is essential for any business to survive. With the right marketing, you can double your business in a very short time.
A very simple definition of marketing would be “Anything you do to get and keep customers.”
While it is essential to have customers buy from you the first time, you cannot rest at that point. You need customers to come back to you for repeat/ other purchases to ensure continuity in your business.
Marketing is what brings customers to you. Consistent marketing will ensure consistent growth of business.
There are 4 aspects that need to be considered while marketing a product.
1. Your Product: You have to have a high quality product that satisfies your customer’s needs. It should be competitively priced. Customers should perceive it as offering good value for money. It helps if the product has widespread appeal.
2. Your Prospects: Give a thought to who needs your product? Are there enough customers to ensure your business survives and thrives over a long period?
3. Media: Is it better to reach your prospects through the Newspaper, or the internet or the radio or the television or through some other means? Your communication should be able to reach the maximum number of prospects in the least cost. Ideally you will use a judicious combination of various media in your marketing.
4. Message: This is everything you put in your advertising and marketing materials. This is what you use to attract customers to buy your product.
For success, you need a clear marketing message that conveys how your product is better than the other in its category and compels customers to buy it. This message has to be delivered to your prospects in the most cost effective way.
Good Marketing can mean Profits and Money in your Pockets. Marketing is the Oxygen for your Business. Lots of Oxygen means Lots of Energy to Grow your Business.
By Jayant Hudar . Founder & C.E.O of School of Business Wisdom
Jayant Hudar believes in doing simple yet Practical little things in business to take your Profits to the next level. With Scientific foundation and understanding You can apply the same principals to all Business situations. Download free reports and ebooks at http://www.jayanthudar.com and http://www.schoolofbusinesswisdom.com