Marketing

Marketing Strategy

Your business is up and running. You've invested a lot of time and money to get your product or service just the way you want it. Now what? The first thing to do is find out which people will be buying your products. Who will your customers be? Once you've found this information, you need to devise a plan that will physically get your products and services into the proper market so people can buy them.

Marketing includes more than advertising and promotion. Product, Pricing, Promotion and Distribution are the four key pieces of the Marketing Mix. 

Product

We'll assume that you have your product or service ironed out.  Next, you need to think about the appearance of your product.  Packaging / presentation certainly have an impact on public perception, and as such it should be handled with due care.

Pricing

Now that your product looks just right, you will need to determine your price.  You must consider what your product costs you to produce (including packaging/presentation), the cost of distribution / delivery, who you are selling to, what your target market will be willing to pay, as well as what the competition are selling for... just to name a few. 

Promotion

You must devise a plan to get information out to your target market - by means of advertising and promotion.  You should have a comprehensive plan to present accurate information in a professional and eye-catching manner.

Distribution

You will need to consider how you will deliver your product or service to your buyers. The methods you use will differ depending on your product.  Research what others do, and try to determine best practices.

 

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