As a business owner, marketing can be daunting, but it’s critical to your success. It’s the process of creating and communicating value to your customers, driving sales and building your brand.
In this very short beginner’s guide, we’ll explore the marketing basics and how to use them to grow your business. Google defines marketing as promoting and selling products or services, including research and advertising.
Marketing’s purpose is to drive business growth and profitability by attracting new customers, retaining existing ones, and increasing sales. In addition to this, understanding your customers’ needs and wants is vital to creating loyal customers.
Marketing has four pillars: target audience, product/service, promotion, and price.
Firstly, your target audience is the specific group your business aims to reach and serve through marketing efforts.
Secondly, your products and services, should meet your customers’ needs and wants.
Thirdly, promotion is advertising, public relations, and sales promotions.
Lastly, price is the money charged for products/services, competitive and reflecting their value.
As you can see, Marketing is a very broad term and includes a lot of what you do in your business.
In conclusion, Marketing is a broad term and includes much of what you do in your business. Marketing is essential to any successful business.
By identifying your target audience, developing products/services that meet their needs, and promoting them effectively, you can attract new customers, retain existing ones, and build a profitable business over time.
What form of marketing does your business use?