Marketing is a wide-ranging term that involves many activities. It includes promotions, public relations, and advertising. The business owner’s ability to effectively market its products and services will greatly influence its success. The business could have a great product and excellent customer service, but if people don’t know about your business, you will not have any sales.
Because nobody knows you’re there!
Marketing gets the word out about your offering to the world, especially your customers. It allows you to attract potential customers and inform them of the products you have on offer.
However, marketing isn’t always a high priority for some entrepreneurs because they may feel intimidated by all the jargon used by marketing professionals such as advertising agencies. Understanding sales, yes, but marketing?
However, you are most likely involved in the sales process as the business owner and founder. You have a perfect sense through your sales why your customers buy your products or services. Understanding your customers, why they buy from you and what they value in your product or service is as straightforward as marketing gets.
Developing a marketing strategy helps the business to create products that will have the best chance of succeeding in the market. This is because a properly constructed marketing strategy starts with industry and competitor analysis before progressing to pinpointing who, precisely, is your customer.
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