Both Online and traditional marketing continue having the same objective: getting the message of your company to as many people as possible. It is needed that your brand or product is the first thing that comes to mind to consumers when they think about a type of service or product category. Understanding your audience and choosing the right channels is one of the most valuable phases in a marketing strategy. For any marketing strategy, you must know who is your target customer. It is important to note that this information should be based on real data. Depending on if you have a B2B or B2C company, your marketing strategy will be modified according to the needs of your business. All the efforts to position your company must materialize in a considerable company’s sales grow. As it is said: “If you don’t know your target market enough, your business will inevitably fail.”
One of the classic instruments of marketing is the marketing mix. There are four variables that we can control, which have been called the 4Ps of Marketing.
The four P´s
- Product: alongside the price, the most crucial element in the marketing mix. Product is the element around which the rest of the marketing decisions will be made.
- Price: probably the most important element after the product. It depends on the costs of production, supply-demand and several direct and indirect factors.
- Place: Decisions regarding the channels through which the product/service will be delivered to the consumer
- Promotion: different strategies to promote the product/service facilitating it to reach the target audience effectively.
We can control and modify these variables depending on our objectives and market.
Over the years, extra Ps were added for today’s reality.
- People: caring for people is essential to your business. You will need to build an excellent team to make contact with customers in delivering the product.
- Process: it is closely related to customer service. Customers are not interested in how a business works, but they care that the process works. A company should take into account the waiting time after a client request, and the treatment provided in the relationship with the customers.
Marketing books and resources:
Digital Marketing For Dummies
Blogging: A Practical Guide to Plan Your Blog: Start Your Profitable Home-Based Business with a Successful Blog
Crushing It!: How Great Entrepreneurs Build Their Business and Influence-and How You Can, Too
If you need additional information about how to create a successful Marketing Strategy for your Business Plan please contact us at: info (at) apeximmigrationbusinessplans.com