What is Marketing?
Marketing. What do I mean – what is marketing?
Isn’t it obvious what marketing is?
Not necessarily. Many people seem to get confused about what actually marketing means or involves. So for the purposes of this post, I’ll attempt to supply you with an answer to this age old question… what is marketing?
To do so, rather than giving you answers directly, I’ll be asking of you and your business plenty of personal questions which only you can answer.
You might want to get a pencil and notepad ready to jot down your own personal answers as each question applies to you.
Let’s get started…
Marketing answers the age old question…
Which orders would you like to win?
Think about it and write down your answer.
Remember… marketing is primarily concerned with your product or service…
…the price of your product or service…
…the location or place where your business is located…
…the people you wish to attract to your business…
…and how precisely you are going to promote your specific product or service.
Follow up questions…
Which products or service do you wish to sell?
This product or service of yours concerning the price of it, how much do you intend asking for it?
Write down your answers.
Placement of your products and services in the marketplace – whereabouts do you intend to place them, are you going to sell these from a physical location offline or are you going to rely on the Internet to make contact with your potential buyers?
Who is your specific and precise target buyer? What kind of person is your most ideal client or purchaser? Where are your customers located?
Again write down your answers.
When it comes down to promoting and/or advertising your product or service, how exactly are you going to go about this? What words will you choose to connect with your target market? How will you convince your potential buyers you’re the the best person to supply them with what they need?
Write down your answers once more.
Now ask yourself… what makes your product or service unique? What sets you apart from your main competitors? What benefit can you offer which your main competitors are not presently offering? What do you think is your competitive advantage?
Do the same again – write down your answers.
Doing this exercise will help you to see clearly what your marketing funnel looks like.
Now imagine looking through a pair of unfocused binoculars. You put the eyepiece to your eyes and what do you see? Blurry vision? Now focus those binoculars to your specific eyesight range and focus on the goal in the distance… now can you see where you’re going?
To understand your specific business marketing needs you need laser like focus and this comes from answering all of the questions you see here. For without the answers to these questions clearly in mind your ability to achieve your marketing goals will be seriously hampered.
On the other hand…
…with the right kind of answers at your fingertips, ready at any one time to tap into – you can clearly see the path ahead. And marketing? Believe you me when I state it’s absolutely vital to your business to get it right.
Ready for some more questions, pencil and notepad at the ready, poised for action?
Prepare to sharpen your wits on the following pertinent questions…
Concerning your one single biggest specific benefit… why should anyone believe you? Why should someone buy from you and not somebody else? If you can answer this question you now understand what your competitive advantage is.
Who honestly really cares about your product or service? Where are these people? Answer this and you’ve just uncovered and identified your market segment or niche. Remember, marketing is foresight having or acquiring the ability to understand potential buyers behaviour before they buy into you and the solution you bring to the table.
Marketing is having or acquiring the ability to determine your potential buyers main key concerns and needs and matching your products and services to those needs and concerns. Sounds simple right? But have you got your marketing down to a tee just yet? Or do you need yet more focus?
If you need more focus, let’s throw a few marketing thoughts into the ring… What else does marketing involve?
Why – it’s the ability to win and retain clients, paying customers.
Of course it’s true most people would state upfront their primary purpose in business is to make a lot of money. And whilst this is important, what’s also vitally important is your mindset. For decisions you make right now in any one given moment in time will affect the outcome of what you’ll receive directly in the future.
Make wrong marketing choices and your business could suddenly find itself struggling to succeed. On the other hand make correct choices from the start and your business could positively explode into action. Today certainly with the advent of the Internet this couldn’t be more true.
Others might state the primary function of their life and business is to satisfy consumer demand. Giving consumers what they want, which to a greater or lesser degree, there can’t be any argument over.
Others still might differentiate themselves stating the most important aspect of being in business and marketing specifically, is to match the resources of the business to the needs of the marketplace.
All very good points and incidentally all true.
Nonetheless allow please to summarise this key point…
To answer the question…what is marketing? We need to place the emphasis on achieving the business mission by improving the life of the customer.
Going back to my original point… finding ways to enrich the lives of other people in some way whatever this may be. If more businesses, your business, my business, if we all focus on the benefit to the customer then there’s the very real chance we might just make a profit.
As you likely know, many tens of thousands of people annually in your country set up their own businesses. Sadly so, many of them fail within their first two years. Some reckon the figure is as high as 80%.
So what differentiates the winners from the losers?
What is the 20% of successful business owner marketing strategies which place them on a firm foundation for future business building success?
Marketing is the key.
Marketing will determine precisely which orders you would like to win. How you sell yourself, how you sell your goods, products, and services is getting your marketing message out there and winning those orders as soon as you have it crystal clear in your mind, which orders you would like to win.
Marketing is a continuous process.,It never stops. It never sleeps. It never stand still. It never remains stationary. It’s constantly having the ability to evolve and adapt reflexively to market conditions particular to the industry sector you’re operating in.
Marketing is putting into practice the skills of creativity – coming up with new ideas.
Marketing is research – understanding your business model inside out and acquiring as much information as possible about your key direct competitors.
Marketing is testing – finding out what works and what doesn’t work.
Marketing is the ability to take brave new steps, being prepared to burn your bridges behind you unafraid to try out something new for the very first time.
Marketing is being prepared to step out of convention, outside of the mold thinking outside the box to make your product or service uniquely different.
Marketing is analysis – understanding performance based data to work out quickly on the spot if needs be whether or not to keep doing something or whether to ditch a marketing tactic instantly.
Marketing is looking for new ways to develop and implement new ideas. Accepting change, going with the flow, thinking outside of the box and maintaining a laser like focus on the end goal.
Marketing is wanting to keep as close to our customers as possible not alienating them but listening carefully to their wants, needs, and desires. If you do this you’ll be able to anticipate their future needs.
Marketing is loving our customers – if you don’t love your customers how can you serve their best interests? How can you deliver directly to your customers exactly what they want if you do not love the very people who are putting profit in your bank account?
We must all do whatever we can to love and respect the needs and the wishes of our customers more.
We always want to go the extra mile to help our customers. Going the extra mile to help our customers will always pay great dividends and makes the whole task of marketing a lot easier when we bring them on side, to help us help them and serve them better.