It is a common fact that some businesses have a higher success rate than others. For some establishments, the sky is the limit for success, while other business owners have to apply for loans for unemployed because they have gone out of business. There has to be a justified reason for it.
Let us try figuring it out;
Can it be that the products and services were
Or the business did not have enough capital?
Or maybe the business plan was too optimistic
rather than being practical?
What if the business was solid on all these
ground, but could not attract a healthy client base?
More times than not, businesses, especially the small scale
ones, have to wind up their operations because they do not have the audience to
sell their way above average products and services.
Making customers attracted to your products should be given
more priority than anything else. Because the business owners do not do so,
they end up in losses. A separate division for “MARKETING” can help a company
shoot up from the ground and fly amongst the big names.
THE CONCEPT OF MARKETING
Marketing is often associated with sales, and it is
considered to be another term of advertising. Both of these are only somewhat
Marketing is a continuous process that helps an organisation
or a single seller to draw a potential buyer towards him, make him so interested
in the product that he ends up buying it. The process does not end here. After
the first purchase, marketing takes on the task of retaining that customer to
make him come back for more.
Selling is only one aspect of the broader concept of
marketing, and so is advertising, which acts as bait to lure the in the buyer
in. It is done through various offers and strategies;
Offering discounts; the buy one gets one free
has been the best so far.
Constantly bombarding the customer’s email
account and phone with offers and deals that he loses the battle and clicks on
the BUY tab.
Putting banners and billboards of the products
everywhere the customer can see.
Offering after-sale services for gadgets and
assembly services for furniture to make the purchase even more convenient for
Always listening to customer grievances and
working on them to improve your services and ensuring the customers that you
The purpose of every business is to earn profits. It does so
through selling its products and services to the customers. Marketing is that
tool which not only persuades the buyer to buy the products once but also to
keep doing it again and again. It is quite similar to Amazon’s save and
Here are three of the most important ways through which marketing
achieves this feat.
BROADENS THE PRESENCE
Earlier, most businesses used to work on word of mouth. A
customer buys your product, he likes it and raves about it to his friend,
consequently spreading the word and widening the customer base. Today, this
strategy won’t work.
To broaden the business’ presence, a marketing plan is
paramount. It does this by making the target audience aware of the product.
Have you seen any cereal commercial on TV that you liked so much you bought it?
That is the perfect example of getting more extensive consumer base.
Next is customer satisfaction. It starts from the moment the
target audience is identified. And it entails four aspects that will satiate
all the customer demands;
Producing products and services that will fulfil
Focusing on quality over quantity.
Getting the price just right, to do both, entice
the buyers and earn a profit.
And finally listening to them even after the
product is sold, so that you make them loyal to the brand.
Marketing also gives the business a competitive edge over
all the other brands and companies. You have already accomplished some of it through
advertising the products and customer satisfaction.
For the rest of it, you need to do some homework. Research
and market analysis play a crucial role in giving you an advantage. When you
can do this properly, you would find the blind spots in the industry you are
in. Explore those, and you would have a need that will be fulfilled by your
product and not the competitors.
Marketing indeed helps the business owner to stay two steps
ahead of everyone else. The best part about this concept is that it is not an
expensive one. You can make social media your best friend when deciding to make
use of this tool.
If you want to achieve the success that every big name in
the business world has been able to achieve, you have to understand this
concept and turn it to your advantage.