Marketing 101: Increasing Awareness and Understanding About Business Marketing
Marketing is indeed the hear of every business, because a good product requires a good marketing strategy to increase your prospective buyers’ interest and attention, thus increasing your sales and revenue. Marketing is a valuable tool for a business to succeed with the help of advertising, promotions, sales and public relations. Imagine yourself as a painter, with great and magnificent artworks, but everything is stocked in a closed room where nobody can see it. Yes, everything will be wasted, your time, effort and your money for investing in quality painting materials. Same is true with any business journey, your efforts should not stop creating or manufacturing your best products and services, you need a solid marketing strategy for people to know, understand and purchase your goods.
There are some points you need to consider in marketing such as defining your target population, testing your audience, considering marketing strategies and evaluating those strategies. It is crucial to define your target population so you can create the best marketing plan appropriate for your business. Creating a hypothetical process of purchasing to test your audience is a way to know their buying behaviors and its patterns so you can select the best and appropriate marketing strategies needed to promote your business. Once you have set and implemented your marketing strategies, it is important to study and evaluate them for you to be able to find the most productive of them all.
Some of the popular and widely used marketing strategies include paid advertising, cause marketing, relationship marketing, undercover marketing, word of mouth, internet marketing and transactional marketing. Paid advertising are traditional approaches such as television, radio and print media advertising. Cause marketing is also known as cause related marketing, that links the different products and services of a company for a social cause. Relationship marketing is creating customer connection, improving customer experience, and gaining customer trust and loyalty. For undercover marketing, customers are not fully aware that a marketing strategy is applied, so it is otherwise known as stealth marketing. Word of mouth comes in the form of referrals from actual customers who purchased your products and services. Internet marketing is also referred to as cloud marketing, popularly utilized because majority of the world’s population use the internet. Transactional marketing involves the use of voucher coupons, discount cards and huge events. Diversity marketing involves customization of different marketing strategies basing on specific aspects such as beliefs, culture, attitudes, views and gender preference. Marketing is the lifeblood of a business, allowing people to know your products and services.
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