 Unless you’re McDonald's, trying to have the lowest price is a losing battle. Although price seems like it’s more important to consumers in a tough economy, it’s still not the leading factor in most purchase decisions. So what do you do to increase business without dropping prices? Identify how you provide value to your customer and what makes you better than the competition, then focus on those benefits in all of your marketing and advertising efforts. Start by distinguishing your organization, products or services from others—from the audience’s point of view. What matters to them? What do they need or what do they value? Don't believe it will work? Think Starbucks. There was a time when people thought anyone would be crazy to pay $3 or more for a cup of coffee. But Starbucks focuses on the experience, not just the java. Give your customers a whole new reason to spend a little more for what you are offering, and they as long as they believe your product or service delivers what is promised, then price is not a factor. Just the way a $3 cup of coffee—with no free refills, mind you—works for Starbucks. Want help with your marketing and advertising? Contact Us today! Add Comment  It's a mistake to think that the exact same marketing program you established 5 or more years ago will work today. Why won't it? Well, mostly because the way your target market accesses information has changed over the years, so the way you communicate to them has to change as well. Effective marketing is directed at specific audiences, using the same channels your target market uses to access information that leads them to make a purchase. More than 75% of Americans are online now, with six in ten adults now going online wirelessly using either a mobile phone or a laptop. The first place people go when they want to research a product or service,or find out about a company, is online. And when they’re ready to buy? Most start online. No wonder “google” has become a verb! Knowing this, take a hard look at your online presence. Is your website a good marketing and communication tool? Does your site support your branding messages? Does it engage your audience and provide value every time they visit? If not, it's time to update your website, but how? First look at your sales process and identify where your website fits. Is yours an e-commerce site? Does it back up sales calls? Does it provide customer service or support? Are you providing an easy way for customers to inquire about your products and services? Are you making it simple for the right people to find what they need in three clicks? Of course your website is just one important component of an effective marketing program. If you're not sure how it fits into your overall plan, Contact Us now and Denise Seith & Co. will help you sort it out and come up with a better marketing program that changes with the times. What is Marketing? 02/24/2010
The American Marketing Association's definition of marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. If you went to school a long time ago like I did, you were taught the four Ps of marketing: product (goods or service for sale), price (what the goods or services cost consumers), place (distribution, where the product or service is sold), and promotion (advertising). The latter definition is a bit more simple to understand— all of a company's marketing activities occur because of those 4 elements. All marketing activities and strategies result in making products available that satisfy customers while making profits for the companies that offer those products. If you really focus on those few sentences, you can understand what you should be doing when you market something and why. |
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