MARKETING

"Good marketing makes the company look smart. Great marketing makes the customer feel smart."

– Joe Chernov

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Marketing

What & Why?

What is marketing and why you need to be on top of it?

Marketing is not just an act of advertising a product to sell; it’s much more than that. Marketing is an ensemble of process including product development, market research, product and promotional distribution, sales and advertisement strategy, public relation and customer support.


It is a holistic process of running a business, from beginning to end and is best defined by what is called the 4 P's:
Product

When you have that light bulb moment, get the product made and start selling it, right? Well no, you need to do market research to see, first of all, if the product already exists, who is its target audience, if the market fits for your product, etc. This is the start of your marketing strategy. What's next? Setting up the price.

Price

Market research should reveal the ideal product price that you should market based on existing products and/or market demand and what people are willing to pay. Now that you have an idea of resale price, the next question to ask yourself is where and how to sell your product based on your target audience.

Promotion

If the market research was done correctly, you can clearly identify the best place to sell. For example, certain products can be sold online via an ecommerce site; other products work better at a local market stall. Now that we know where and how much to sell your product, you need to ask yourself how to attract the right audience.

Place

Promotion is one of the key stages of your marketing campaign. This can include online and printed advertisement, sample distribution, trial etc. All with the ultimate goal of generating sales and buzz around your product. These should be closely monitored and fine-tuned as you progress in time using customer feedback.


Now that you have the basic understanding of what marketing is, why not get in touch with one of our marketing managers to put the best strategy in place for your project.

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