Arguably, the most important function of any business is marketing. To many people marketing just means selling, but it is far more than that. Making a product or providing a service is relatively straightforward. The hard part is ensuring that your potential customers are aware that you exist. It is essential, therefore, to prepare a detailed marketing plan - a plan of action. You need to define your overall marketing objectives, you need to identify your target market and you need to know what 'marketing mix' you will use.
- segment your market, target your customers and position your business in the market place;
- understand the 4Ps;
- define your marketing objectives;
- write your marketing plan; and,
- consider future developments.
Marketing is inherently simple; it's about targeting customers, finding out what they want and giving it to them at a price they want to pay (and which makes you a profit). But it's not easy. There are limitless ways to tackle your marketing objectives and there's no formula for success. Except, perhaps, 'be your own customer'. In other words, try to see everything from your customers' perspective.