Business marketing isn’t only about advertising and attracting customers. In essence, it’s all about taking care of your customers, understanding their needs and wants, and offering products and services to meet their desires.
Marketing doesn’t end after the customer’s purchase. Any successful business, even a home business, will grow due to effective business marketing strategies. In building your marketing plan, consistency is the vital element. Every marketing effort employed in your business plan should mesh with every other. You, as well as your staff and management, must portray the same message in everything you do to show the desired image you want society to see in your company.
There are four P’s to guide you in creating a marketing mix: Product, Price, Promotion and Place.
Product. Creating your product mix includes the line of products you’ll offer to the market. Will you produce a whole range of bath essential items? Or will you focus on creating and designing shampoos? The answer depends on what you’re capable of doing. A wide range of items will get you more customers and more opportunities for your brand name to be known, while a narrow one will help you focus on a certain product and constantly improve it, maintaining customer loyalty because customers will have a feeling that you have reliable products due to continuous research. Whatever your product is, it’s helpful to provide or distribute free information, whether directly related to your products or not, to educate your current customers and prospects. People will look up to you as an expert in the field and will buy your products when the need arises.
Price. Price marketing mix refers to the way you price your products and establish price policies and credit options. These are vital considerations that will affect your revenue. If your product or service is unique in the market, you can command a higher price for it. Price discounts don’t hurt if you offer them at the right opportunity.
Promotion. The promotion mix will deal with advertising, salespeople, public relations and other promotional activities done by your company. Most of the time, this means advertising deals for your products and services. Joining public relation activities or a charity event will help to build a good image for your company name. With Internet marketing, businesses have found a business opportunity through affiliate marketing, which is an online-based practice where business owners reward their affiliates for each customer brought by the affiliate’s marketing efforts. This practice will help expand the business’ network and strengthen brand presence. In doing your promotions, always refer to the concept of consistency in your marketing plan.
Place. Your place mix refers to your distribution efforts, and how you can provide convenience for customers buying your product. If your customers are far from your manufacturing plants, how will you provide the logistics? Will you do the deliveries to them? Establish store branches near them? Tie up with current store owners in the area and sell your products at retail prices? Questions can also include answers to other logistics-related questions like maintaining only an online site or building physical stores.
Remember that no matter what your business marketing mix is, successful delivery of your products or services to your customers, maintaining their satisfaction level by providing constant support, and providing great value will increase the trust that your customers have in you. The more they trust you, the more they will come back and recommend their friends to you. You can learn other great marketing tips if you sign up for a few online classes.