Marketing Basics

Marketing is a critical component to any business and should be in sync with sales. Early on in my career, I honestly didn’t understand the value of marketing and primarily focused on the sales aspect as I believed that is what generated my revenue.  After I learned the value of marketing, my whole concept of selling changed dramatically.

The first question is what is marketing?  Some people think it is placing ads or sending direct mailers, etc. and that is a marketing task.  I just searched the term marketing on the web and got this response – “the action or business of promoting and selling products or services, including market research and advertising”. The definition I like is marketing simply creates demand for your product/service and changes existing beliefs.  To have success in marketing you need to raise the importance of your product/service and create the perception that your product/service is better than your competitors.

Marketing can be made easier if you have established a brand.  A brand is simply a promise of value derived from using your product/service.  For example, if I buy an electronic device and it has an Apple logo, I immediately think that I am going to receive a well designed product of value that will suit my needs.  If I see an electronic device from a company called Klapple, I may not think of value, but perhaps think it will be much less expensive.  If you are able to demonstrate the value of your product/service to your customer, price becomes secondary.  Price is only an issue when value is absent.

When some people hear the term marketing they immediately think of the 4 P’s marketing mix:

If you market your product/service properly, you will create a great awareness and can change your prospect’s image of your value, and even modify their buying behavior.

I work with a lot of my clients on their marketing plan, and how to tie it to their sales strategy. If you need help with your marketing initiatives, please reach out to me.