Whether you are a small, medium or large business you need a good business marketing strategy. There are virtually endless ways to market your business, the only question is which ways are the most effective for your product or service? You can outline your marketing strategy with this popular saying- “Who, what, where, when, and how?”
First you need to know your product or service. Is it something that people will feel they really need, what purpose does it serve? Who is your target audience? Two major components of your target audience are what age group and which gender will be most interested in your product. Depending on what product or services you are trying to market you also may be able to target specific groups such as certain professionals or interest groups “hobbies”.
What is it about your product or service that is better than your competitors? Is it better quality, does it have a longer warranty, does it cost less than the competition? You need to know what it is about your product or service that is better than the other ones around. These are the types of things you want to tell your target audience about your product or service.
You have probably heard the business saying- “Location, location, location!” Well, product placement is an important aspect of marketing. Make your product accessible to your target audience. Depending on what you are trying to sell, you want to be where your customers will be.
When should you advertise your product or service? If you are using tv or radio ads, this is a question to ask. When does your target audience generally watch television? If you are targeting men a good time to place your ad is during sports programming. If it is something children will want, then air it during cartoon programming. If you are using radio advertising that is targeting working professionals, then try during rush hours. Marketing your product or service at the right time, and to the right audience, is very important.
No matter where you are marketing your product or service, your audience needs to know how to get it. Do they have to go to a location to buy it? Can they order online or over the phone? How easy is it to pay for? Is it an expensive product or service, but extremely beneficial? Can it be paid for in installments? These are important questions to consider when you are putting together your business marketing plan.
If you want to be successful at selling your product or service, you need to market the right way. Make sure your product or service provides customers with more value than you charge, market to the right target audience, and make it easy for customers to buy.
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