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 these avenues? Are you promoting […]
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 do your prices give to […]
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 read over this section and […]
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 in some way to encourage […]
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 coat, a choice of meals […]
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 being better at marketing * […]
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. A very basic example using […]
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. A very basic example using […]
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 products that people want to […]
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 to always satisfy, if not […]
