Memory Certification Program

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.

1. Define and develop a target market

2. Create a business image

3. Learn how and where to advertise

4. Learn how to use public relations to promote yourself

5. Develop a marketing plan

6. Develop creative and innovative marketing strategies

7. 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:

1. 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.
    

2. 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.
    

3. 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?
    

4. 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.

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