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Friday, May 7, 2021

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    The Secret of Marketing

    Marketing is important for a business to profit. It convinces enough customers to pay a reasonable price for their products or services.
    The secret of marketing are –

    1.Marketing should be our first priority – a customer chooses to buy any product or service because of effective marketing. Marketing ensures that the product or service fills a need for potential customers, so they will want to buy it, this is called product development. Next, in order to ensure that the business will achieve profit from sales, we need to fix a price that will perceive the customers to buy the product. The last step is where the existence and benefits of the products or services entice the customer to contact the business in order to learn more.

    2. Difference between advertising and marketing – advertising is only a part of a promotion, so we need to focus on the other such as product development and pricing. If we consider advertising first, then we will consequently lose the opportunity to control and develop over 75% of all marketing.

    3. Opinions and desires – just because we are the owners of a business we should not think that the opinion of the customer does not matter. We are in virtual control of either succeeding or failing to convince the customer to buy the product or services we offer.  We should focus on fulfilling the needs and wants of the customers, from their perspective so that the number of customers that will buy the product or services will increase.

    4. Potential customers – we should try to research our chosen potential customers like what they want, how they want it, will they buy, and so on.

    5. Screening out undesirable customers – we should try to focus on potential customers and screen out undesirable customers. Often we spend too much time, effort, money, and energy trying to deal with a handful of hard-to-please customers who frequently demand lower prices at the expense of better customers, who go elsewhere because they were ignored.

    6. Appreciating the value of existing customers – we should not be focused on getting new customers that we ignore the existing repeat customers. They produce a wealth of opportunities for us and provide us with positive feedback, reference, and referral services. Repeat customers are the least expensive and most likely source of additional business, and they’re unnecessary departure causes substantial damage.

    7. Competitors – most customers compare our marketing with other marketing. They need a good reason why they should buy our product or services over others. By understanding our competition we complete more sales and position our products or services for positive customer comparison.

    8. Overwhelming power – emotion governs the entire buying process, therefore we should try to understand the emotional connection our potential customers will attach to our business, products, and/or services and the way customers interact with the business.