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While market asks who, where and how many? marketing addresses
"How." Once you have identified geographic area,
competition, and the ideal customer, the big question is how
can these perfect customers be reached?
The main areas of marketing are product, price, packaging, and
promotion.
Product/Service
Is there a demand for the product/service you are offering?
If so, then your ideal customers are currently getting it
from one of your future competitors. How can you provide your
product/service better, faster or cheaper? Give your customers
a reason to buy from you rather than the other stores.
Price
Determining a good selling price is complicated as it affects
both marketing and finance. Products/services should be priced
in line with the current market and competitor pricing. Selling
price should be sufficient to pay all business expenses and
should make a profit for the owner, given a reasonable amount
of sales. Keeping business expenses in mind, set reasonable
sales goals and strive to meet them every day.
Packaging
Along with packaging your product/service, you also must
present your business itself in the most attractive way possible.
A business's name is its most important marketing tool, and
you should spend plenty of time brainstorming ideas before
you commit to a name. The best business names are memorable,
clever, and as informative as possible.
Promotion
The best way to reach your customers is to advertise within
your own logistical and financial means. One of the most important
pieces of advertising is your business card. Make sure it
conveys your who, what, where, why and how to contact your
business. Then decide which of the three basic advertising
methods to employ-media, direct mail, and personal appearances.
After you have researched your potential customers and think
you have found your niche among the other businesses, it is
time to go to work on the business
plan. Western Dairyland will help create a marketing plan
that will give you a leg up to grab the highest possible market
share.
Links to Marketing Web Sites
Below are a list of links that provide access to web sites
where you can learn more about marketing.
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