Over the past few posts I have covered; how to get your product right for your target market, how to set the right price, and how to ensure your promotions reach your target market. This time we have one final consideration before you can start making your plan. Your products […]
Are your promotions reaching your target market? Look at your customer profile and list all the media they might consume. What do they read? What do they listen to? What do they watch? What events do they attend? What social media sites do they visit? Are you currently promoting via […]
Pricing is a huge topic, for today I want to focus on price as a measure of value. Your customer’s perceived value of your product will partly depend on the price. Most people will automatically assume that a £25 product is better than a similar product costing £10. What perception […]
The Marketing Mix encompasses the 4-P’s that help business people like you to understand customer needs so that you can meet and exceed customer expectations. The 4-P’s are; Product, Price, Promotion, Place. Each ‘P’ should be explored in turn and decisions made with your target audience in mind. As you […]
This month, reconnect with past clients and customers and sell them something else. Do you have a database of people who have bought from you already? How could you get in touch with them? What could you offer that recognises your existing relationship? How can you make your offer limited […]
Customer satisfaction occurs when the perceived value of a product is realised when the consumer purchases the product. Look at the following example; I go out for a meal, my expected benefits may include: a tasty meal, clean surroundings, good table service, friendly waiting staff, a place to hang my […]
What is customer value? Customer value is the perceived range of benefits a consumer gains from purchasing a product or service minus the perceived sacrifices. For example let’s consider an eCourse. The benefits are: * Gaining knowledge * Improving your marketing skills * Gaining more customers as a result of […]
In this post I’ll cover the three keys to an efficient effective marketing strategy. 1. How does your cost per customer for marketing compare to your profit per customer? An efficient marketing campaign is one where the profit gleaned from the customers is higher than the cost of the marketing. […]
In this post ‘ll cover the three keys to an efficient effective marketing strategy. 1. How does your cost per customer for marketing compare to your profit per customer? An efficient marketing campaign is one where the profit gleaned from the customers is higher than the cost of the marketing. […]
Efficiency is being able to create products or offer services at a competitive price. Effectiveness is creating and offering the right products and services, the products and services that consumers desire and will buy. An inefficient, ineffective business won’t be in business very long. If you can’t make or offer […]
The marketing concept can be understood as meeting your business goals whilst meeting, or preferably exceeding, your customer’s needs better than your competitors. You can do this in three ways; 1. Customer orientation Put the customer at the centre of your business. Consider how business decisions affect them and strive […]
“The basic function of marketing is to attract and retain customers at a profit.” Peter Drucker Marketing should play a central role in your business and should penetrate and affect business decisions in all areas from product design to how the product is delivered. Marketing should play a big part […]
