Marketing is arguably one of the broadest fields that business has to offer. Defined by the American Marketing Association as “the activity, institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value,” marketing can be the tool to take your business to the next level. But learning the marketing basics first will make your campaign stronger.
Marketing Basics Tip 1: The 4 “P’s”
In school, you may have heard of the “4 Ps of Marketing.” These are some of the most significant factors a marketer will look at when deciding on a plan for how to reach your consumers and predict how they will respond. Below, you can see what each P looks to answer:
- Product: What are you trying to sell? Your business? An item? A service plan?
- Price: What price are you selling your product at? Is it competitive in your market?
- Place: Where are you advertising your product? This answer could be geographic or media-based.
- Promotion: What makes this product attractive? Are you running a sale based on if a consumer responds to your ad or not?
Tip 2: Learning Your Consumer
Knowing the 4 Ps of Marketing is half the battle, the other half comes in knowing your consumer. Are you reaching them effectively? What are they looking for from your business? Have you successfully met any needs they might have?
In business, there is a lot of black and white that you can navigate with relative ease, however marketing is one of the gray areas that can be hard to come to the right answer on your first try. Working with Zachry Associates can help you cut down on the time needed to find clients and instead focus on making your business the best it can be. Learn more about the services we offer here.
