Marketing means selling or advertising to almost everybody. If that’s what you as an entrepreneur thinks! Then you are misinformed.
These days, what most business organizations do is purely selling or advertising.
Selling/advertising is just an activity carried out in marketing.
There is more to; than that.
What is marketing?
For you to fully understand the concept, I will break it down in stages.
It is the:-
- Identification of a need in the market place,
- Innovating a product or service capable of satisfying the identified need,
- Fixing price for the products to reflect customers’ ability to pay as they watch other competitors price,
- Promoting the goods to prospect clients to better the chance of the goods being bought,
- Making the goods available to the customers,
- And lastly providing for after sales services to make sure customers are fully satisfied.
Number 4 is were most businesses comes in, all they do is sell their products. Most don’t even do market research to identify customer’s needs. They believe whatever product they have will sell with some promotional effort. That’s not the case at all times. As a good marketer you must do all 6 stages for optimum performance.
According to the America Marketing Association (AMA), there is what is called the 4p’s of marketing, in which the marketer must manipulate to provide satisfactions to customers in the target market. They are: – products, price, promotion and place.
With the above explanation , what we must know is that marketing is everything in between; from identifying customers’ needs, to making sure the product created to solve the needs gets to the customer.
One thing you should know is that, customers are always right.
Once again do not confused it with selling. Selling is only one activity carried out in marketing.
Now go back to your organizations and apply what I have said and watch how your organization will make more sales and excel.
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