Introduction
In this rapidly changing
world, where new ideas, processes, products,
and methods of delivery and presentation
move at lightning speed, you cannot afford
to stand still in business or you will be
left behind.
The continuous social and
economic evolution is both exiting and
challenging. Change provides an environment
where opportunities are born. However, the
success and sustainability of personal and
business ventures are heavily reliant on
your ability to market effectively. Long
gone are the days when a product or service
sold itself. Today the competition is fierce
and the consumer selection process is more
complex.
A common problem when
people start a business is that they believe
customers will automatically buy their
products or services, based on the fact that
they-the business owner-thought they had a
good idea. Not so. Business is about
delivering products and services based on
what customers or clients want, not on what
we think they want.
If business owners fail
to market their businesses effectively, and
perhaps consider it an unnecessary expense
as well as time consuming, the chances of
their survival are minimal. The reality is
that there will always be other business
competing against them in the market place,
promoting and advertising similar products
or services, attracting the attention of
potential customers and capturing the market
share. Indeed failing to market effectively
can cost people more in lost profits then
the cost of promoting their goods and
services. They may even lose the assets in
their business, and possibly much more.
Marketing is not a “new
find”, yet it is gathering greater attention
in our modern society. In fact, one may
argue that we are all in the business of
marketing ourselves every day of our lives
and mostly we don’t even know it. You see,
marketing is the vehicle that communicates
our message to encourage people to want to
be associated with us.
We give our
-
Friends reasons to
like us,
-
Family reasons to
love us,
-
Staff reasons to be
employed by us,
-
Customers reason to
buy from us
Therefore it stands to
reason that our qualify of life and our
success in business largely depend on our
ability to market effectively. Some do it
well, but many people use the ineffective ad
hoc approach.
Marketing used correctly,
is one of the greatest assets you can have
to promote yourself or your business. It
provides the means to drive your
organization to the forefront of the
marketplace, and to make your business
distinctive in the media jungle. How good
your products or services are is largely
irrelevant. if people don’t know about them,
you need to “be known” by making the right
noises, in the right places and in the right
way.
For decades large company
marketing has been a world that has been
closed to most small business because the
risks have been seen as high, and the
secrecy extreme. Small business has
considered themselves not privy to expertise
and the corporate images that would make
this possible. This is a myth! Effective
marketing is just as accessible to small as
it is to large business and, if done well,
it can mean the difference between success
and failure. The reality is that small
businesses do have the ability to market
well and at a cost that is affordable. They
just need to learn the tips and techniques
of effective marketing.
This book is for you, the
person who is just starting out in business,
or the person who is already in a small
business and wants to grow and prosper. This
book provides you with the commonsense,
easy-to-apply marketing strategies that will
increase your sale bottom line profits,
irrespective of whether you are a retailer,
professional, tradesperson, manufacturer,
service provider or wholesaler.
As a small business
owner, the marketing of your business will
be largely your responsibility, so you need
to help create a successful business.
In each section of the
book, you will be given examples and
true-life stories that will help you to
apply each marketing strategy to your own
business book. It is a practical guide that
spells out the steps to take to put the
ideas and techniques into action.
This book is specifically
about marketing and is not a general
business book. However, in the final
chapter, I have provided a list of useful
contacts that will not only help you in
gathering marketing information, but can
also assist you in sourcing information
about general questions you may have about
your business.
And finally, be willing
to ask for help. Find a mentor, someone,
someone who can provide you with feedback
and advice about your marketing strategies
and ideas. You will be surprised how giving
most people are of their time and knowledge.
In fact, you may have much to contribute to
them also. It’s just another one of life’s
daily exercises in marketing yourself, but
this time you will know that you are doing
it.
As you journey into the
world of business, I offer you these words
of encouragement:
Dream big dreams and make
them a reality. Anything is possible in
life. Just to be different.
-- Linda Echentille
Part 1
HOW TO PREPARE FOR THE MARKETING CHALLENGE
You will learn…
What marketing is
How to begin marketing
How to be an entrepreneur
How to find the time to market
How to develop effective business systems
From this book you will
learn, step by step, how to develop and
apply marketing strategies for your
business. These marketing techniques will
enable you to effectively compete in the
world of business, and to sell your products
and services to the right people, at the
right price, and in the most effective way.
This book demystifies the
complexity of marketing jargon by
explaining, in simple terms, the most
commonly used marketing words. The key
ingredients of effective marketing are
highlighted with examples, and checklists
help you to summaries and apply them to your
own business. Real-life stories are
specifically used to illustrate marketing
principles and concepts.
Successful marketing is
based on seven points, which are explained
throughout this book.
-
Define and develop a
target market
-
Create a business
image
-
Learn how and where
to advertise
-
Learn how to use
public relations to promote yourself
-
Develop a marketing
plan
-
Develop creative and
innovative marketing strategies
-
Maximize the use of
technology.
Chapter 1
WHAT IS MARKETING?
Marketing is best
described as the art of creating and
maintaining customers. It is about conveying
a message to potential and existing
customers to make them want to buy from you.
You need to deliver your products and
services based on what your customers or
client wants, not on what you think they
want, and then you set out to tell them in
the most creative way.
Large companies recognize
the significance of marketing and inject a
great deal of personal and financial
resources into the activity. They
acknowledge the value of remaining
competitive, keeping a breast of change and
future trends. However, effective marketing
is not exclusively available to big business
with a large marketing budget. Fortunately,
small business can market at an affordable
price—you just need to be streetwise,
creative, innovative and to equip yourself
with the right marketing knowledge.
Working as a consultant
with business owners, I have witnessed the
fact that marketing is the greatest asset
that you can use in your business to
increase your sales and bottom line profits.
However it is a tool that a small business
owner should not use indiscriminately. By
this, I mean you don’t use the hit-and-miss
approach and then hope for the best result.
Many business owners think that it is more
cost effective to throw out a large net to
catch as many customers as possible. In
reality, it costs them more than it would to
attract the right customers, who will buy
their goods from them. The answer lies in
employing the best marketing strategies for
your business to gain the best results.
There is no point in
having a product or service if nobody knows
about it. In fact, your product or services
may not be the best on the market, but if
you convey the right message, in the right
way, to the right people, you can still beat
the competition this fact provides you with
exiting opportunities, and I have seen it
work many times.
I would like to share
with you the story of Paul, a pharmacist and
owner of a chemist shop, which had strong
local competition and needed to capture a
greater market share to sustain itself. Time
was running out and Paul’s business needed
rescuing. Although Paul had maintained a
regular flow of customers over the years,
these customers primarily purchased items
that were absolute necessities and whose
profit margins were annually diminishing.
The crisis came when an
franchised chemist business came to town and
embarked on an aggressive marketing
campaign, including gift lines, cosmetics
with beauty therapist advice, free
pharmaceutical advice and club membership
for customers to be informed of discounts
via a newsletter. Many people didn’t know
about them and Paul gradually lost his
customers to his competition.
The outcome was that I
examined every aspect Paul’s business and
what his competition was doing, and devised
a marketing campaign to relay a message to
his target market of what he had to offer.
The major emphasis was on personalizing
service, which no other pharmacy in town
offered. Although Paul never beat the
franchised chemist for the market share, his
business did better than the other eight
chemists in town in just twelve months. Paul
was not the best in what he had to offer,
but to many people he was, because he was
one of only two chemists who told customers
exactly what value they expect.
The four key elements
of marketing______
Many business owners
think that their business is unique, while
others think they’re one of many similar
businesses. Both groups believe they need
different marketing approaches. In many
ways, this is true. However, let me assure
that there are certain aspects of marketing
that are shared by all businesses. Whether
you are a wholesaler, manufacturer,
retailer, professional or service provider,
the following four key elements apply:
-
Market knowledge
Learn all you can about potential
customers or clients who could buy from
you, for example individuals, groups,
associations or clubs, retail or
wholesale outlets. Find out their
geographical locations (where they are
based) and establish if and how you can
reach them. Next, find out what it is
that they need so that you can make
appealing offers to them. Also, research
what other businesses, similar to yours,
are currently being used by your
potential customers, and consider the
future trends in the market place.
-
Products, services
and pricing structures
Establish what it is about your products
or services that are competitive in the
market place. For example, are they
better, longer lasting, the latest
model, or superior in quality? Have a
thorough understanding of your profit
margin and how much you can discount to
still maintain a viable business.
-
Selling and
distribution methods
This is about the ‘how and where’ of
getting your products and services to
the consumer. Are you selling direct to
the public, or are you using wholesale
outlets? What are the methods you are
going to use to reach your potential
customers? Ask yourself: who and where
are the individuals or business that
will distribute my products and
services?
-
Advertising
campaigns and sale promotions
Explore all avenues where you can
advertise and promote your products and
services. For example, television,
newspaper, radio, a Web site on the
Internet, direct mail, in-house
promotions (a special offer for existing
customers), telemarketing (canvassing
and promoting by phone), bill boards and
client email list.
Once your family
understands how these four key elements
apply to your business, you are ready to
develop marketing strategies that relate
specifically to your business. You will not
be flying blind because you will know: who
is your market why your products and
services are attractive to customers; what
is your competitive advantage; how you are
going to sell your products and services are
attractive to customers; what is your
competitive advantage; how you are going to
sell your products and services; and what
strategies you will employ to reach market.
Armed with this knowledge you are well
equipped to formulate effective marketing
strategies.
Post your comments at
amin@aiminlines.co.th
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