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Marketing or Selling??
Marketing is one of those words which no one really understands. A
lot of small businesses feel that marketing is not really for them
as they are doing quite well without all the expense attached to
high flyers telling them how they should “sell” their products
or services. But what is this marketing and does the small
businesses really need to concern themselves with it?
To get a greater understanding of
what marketing is , we really need to understand a little about the
true meaning of marketing. Some people believe that marketing is
just another word for selling, not just selling but a way of
bombarding consumers every day with advertising messages and product
. They see marketing as ploy or a way in which to manipulate or tick
buyers. It is believed that good marketing can somehow persuade us
to buy things we do not really want or need.
Looking at your Market
In fact the real definition of marketing is to provide products or
services which people needs. Always think like your customers and
look at your business from their point of view. Here are a few
questions which might help you examine your own market:
- What do my customers really need?
- Have I supplied all that my
customers want?
- Can I offer extra services?
- Why do they buy from me?
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Looking at your competitors
But the word “need” also can mean several things. Basic human needs
such as food, shelter, water etc.. , today however our needs differ and
its much the case of a choice rather than a need. With a vast array of
products and services it is now a case of choice and so marketing is a for
of survival over competitors. Not only should a business provide what a
customer wants, but it also has to provide a product which is far superior
to its competitors.
Place your own buying decisions in the hot
seat:
- Do you buy what best meets your needs
out of the competing products available.?
- Did you buy due to cost over the other
competitors?
- Was that services chosen because it
offered the best quality service around?
- Did the brand suits your personal
image?
Looking at your business and its Growth
Whilst understanding your market, you really need to understand the growth
or decline of your market and be able to react to its rise and fall. There
is no use in fighting to keep alive in a dying market, its better to move
with the tide. Be prepared for the worst at all times by stepping back
from the crowd and analysing the situation:
- Is the market expanding or declining?
- Is it moving and in what direction?
- Can I diversify to allow for this move?
- Should I move toward a different
market?
By being prepared and well informed in terms
of the growing market trends can be the life or death of a small business.
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