What Is Marketing?
What Is Marketing? Well, there are numerous definitions but in my book Marketing (in a nutshell) is two-fold. It’s about gaining new customers but also about keeping existing ones.
In the latter it’s a question of keeping in contact with the customer and that old adage of ‘keeping the customer satisfied’ as well as informed. It takes a lot to secure a new customer and all that hard work can be lost in a heartbeat if you do not keep up to speed on their wants and desires. My adage is ‘never rest on your laurels’. There is nothing worse than a customer who feels unloved – they will soon become bored with you and move on in search of a company or business that will satisfy their needs. And remember that whilst you are thinking about it someone else is doing it!
New customers are paramount to the successful growth and development of your business and it never ceases to amaze me that in these times of cutbacks some bosses will take a knife to their sales and marketing departments, whereas in fact they need to invest more in these areas.
It is critical to produce a workable marketing plan - that should be reviewed on an ongoing basis Ideally the plan should incorporate:
Product Identification: What is it I’m actually selling?
- Who is my customer? What do they look like, where do they live etc.
- Am I catering to their current needs? Can I cater for their future wants?
The Marketing Plan
- An essential document that should from the start form an integral part of your overall business plan.
- Driving sales interest by such means as advertising, websites, newsletters, promotions and brand awareness activity. Do I have a marketing plan? If not how do I produce one?
- How much do I have to spend on my marketing activity?
- How do I best spend these monies?
- How do I measure the return on my investment?
- When do I implement my plan?
- What are my benchmarks for measuring my success (or failure)
These points and more are covered in a number of other articles that I have written to assist you achieving your own aims utilising marketing activity.
Note when considering “ What Is Marketing ” that SALES is a function of Marketing (and not the other way round). In other words successful marketing leads to profitable sales.
The First Steps In Your Market Planning Strategy
Definitions Of Marketing
Preparing Your Small Business Marketing Plan
Small Business Marketing Plans Stage 2
Small Business Marketing Strategy
Direct Business Marketing Plan
Sample Marketing Plan – SWOT Analysis
Marketing Plan Example For Price And Brand Positioning
Outlining For Budgets
Buying Marketing Plan Production Services
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