How to Market your Business /Product /Service
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The people element refers to yourself, your staff and your customers. This covers customer service levels, as well as effective communication and training for your staff. You'll need to consider both your staff and customers if you're thinking of growing your business. For example, if you're thinking of expanding your business online, you'll need to think about how your customers use the internet, if they would feel comfortable purchasing your goods online and if they would be willing to pay shipping costs for your products.
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You'll also need to consider staffing elements. For example, do your staff have the skills to manage a website? Will you need to provide further training for them?
Although the 5 Ps are somewhat controllable, they are always subject to your internal and external marketing environments. You might run a restaurant catering to families.
Click on one of the two buttons to access the content you wish to view. Although the 5 Ps are somewhat controllable, they are always subject to your internal and external marketing environments. Promotional methods may include: And third, because Porterfield focused her affiliate promotions on her own branding and experience and bundled B School with some of her own digital products , she was able to strengthen the relationship with her B School customers and eventually turn them into customers for her own business. Initially you should review your marketing plan every three months to ensure your activities are supporting your strategy.
To position your restaurant towards your target market, you might consider having:. You might run a scuba diving shop catering to backpackers. To position your business towards this market, you might consider having:.
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Marketing can help you reach your target audience, boost your customer base, and ultimately increase your bottom line. As your business grows you may need to employ additional staff with new or different skills, or possibly employ people for the first time.
Marketing is more than just an advertising campaign; it should result in revenue for your business. Understanding the different ways to promote your product or. When it comes to promoting a new product or service for your business, it can seem like there are endless options. It can be difficult to figure out.
If you're looking at having an online presence and creating a website for your small business, these tips will help walk you through the basics of setting up, designing and maintaining your website. Home Marketing Advertising The 5 Ps of marketing.
INTRODUCTION
The 5 Ps of marketing Last Updated: Thanks for your feedback. If you have any ideas on how we can improve, we'd love to hear them.
Please provide your comments in the feedback form. Promotion refers to the methods you will use to advertise and sell your products and services. Promotional methods may include:. This aspect of marketing refers to how your customers will be able to purchase your products or services. Distribution channels may include:. When deciding which channel to use, consider your target market and the logistics involved in getting your products and services to them.
You will most likely have to engage with suppliers, distributors, wholesalers, stakeholders and employees to get your product or services to market. These groups all form part of your team.
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You need to ensure they understand the importance of providing quality products and customer service. The right customer service and business processes are essential to support your marketing goals. They may include procedures for ordering new stock, ensuring products or services are delivered in a timely manner, providing opportunities for customers to give feedback and regularly reviewing sales and financial reports.
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How to market your company without a product
Price Setting a suitable price for your products or services will help you to be profitable and stay competitive. Promotion Promotion refers to the methods you will use to advertise and sell your products and services. Promotional methods may include: Distribution channels may include: People You will most likely have to engage with suppliers, distributors, wholesalers, stakeholders and employees to get your product or services to market.