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What is Marketing?

Release Date

01 November 2016

"What is marketing?" This is a question that many people often ask and there are many ways to define what Marketing is exactly. In simplistic terms and can be summed up in one sentence…
 
“Marketing is the process of how a business, product or service promotes its key features and benefits to its customers, which ultimately generates sales for the business by satisfying its customers’ needs.”
 
Marketing is a key component to the success of your entity. You may have a fantastic product or service to offer, but if nobody knows about it or of its existence, then you have limited your business’ capacity to maximise its selling potential. Marketing starts at identifying your business’ customer needs, desires and their satisfaction. It is using different methods to develop a demand for your business and fulfilling your customer’s needs. It includes promotion, selling and the delivery of product or service to people.
 
There are various ways to market your product or service and it is the right combination and execution of these that make for a successful marketing campaign to deliver positive results.
 
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1. Research – Explore what is the right offering to your customers and then focus on how to reach your audience with that offering.
 
2. Advertising – How will you get the awareness of your product to the community? Sponsorships, Billboards, Printable Media (eg. Newspapers, Catalogues), Television advertising.
 
3. Branding – What do you want your business or service to stand for and what impression do you want your business to make? (Logo, Name, Tagline.)
 
4. Publicity – How do you want to gain visibility or awareness for your product and via which form of media will you do that most successfully?
 
5. Pricing – Is the price of your product or service positioned correctly in the marketplace? And how will you present this to the customer?
 
6. Strategy – Combining all your marketing goals into one comprehensive plan and executing effectively.
 
7. Online Marketing – Adopting different options to showcase and sell your product offering online (eg. Website, Social Media platforms).
 
8. Public Relations – How will you manage the process of communicating to the public to benefit your business? (eg. Print, Radio or Television Campaigns, Online Campaigns).
 
9. Social Media – Driving awareness of your product and promoting your business through social media platforms such as Facebook, LinkedIn, Instagram, and Twitter.
 
10. Direct Marketing – Reaching your customers by directly communicating with them. Utilising sms messaging, email, websites, online advertising, fliers, catalogue distribution, and targeted television advertising.
 
11. Sales – What is your sales strategy? How are you going to sell your product or service? Will it get most traction from selling though a distribution channel, through a retailer or directly to your customer?
 
In applying just some or all of these methods to your marketing strategy, you can achieve maximised opportunity to generate the awareness and traction that your business deserves. Want to know more? Contact us today calling
1800 505 529.

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