News For This Month: Companies

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. As a business owner, try to imagine yourself as a painter, with great and magnificent artworks, but everything is stocked in a closed room where nobody can access it. Yes, everything will be wasted, your time, effort and your money for investing in quality painting materials. Same is true with any business venture, making the best product or having the best services is not the end of your journey, you need to spice up with marketing strategies for it to succeed.

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. Defining your target population sets the proper demographics to help you select 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.

The different marketing strategies widely and popularly used include paid advertising, cause marketing, relationship marketing, undercover marketing, word of mouth, internet marketing and transactional marketing. Traditional methods of advertising such as television, radio and print media advertising are called paid advertising. Some companies links their products and services for a social cause, which is a huge part of cause marketing or cause related marketing. Relationship marketing involves creation of deep customer connection, for the improvement of customer experience, geared towards gaining customer trust and loyalty. Undercover marketing is also known as stealth marketing, which is a form of indirect marketing since customers are not aware that a marketing strategy is applied. 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 motivates customers to buy promoted products and enhances chances of successful sales through the use of shopping coupons, discount vouchers, reward cards and huge events. Diversity marketing customize marketing strategies based on unique aspects such as beliefs, culture, attitudes, views and other specific needs. Marketing is allowing people to become aware of your products and services, create specific needs and be able to address those needs.