Marketing Mix Secrets
Many people don't understand the basics of marketing and really how simple it can be. Words like "marketing mix" and "SWOT Analysis" can really scare small business owners.
However it needn't be that hard or complicated. Sure, if you wanted to do a marketing course go right ahead. I can guarantee you that you'll be right back here still not understand how the information you've learned can actually be put to use!
This squidoo lens has been created to help small business owners understand that marketing their business really comes down to the marketing mix. This comprises of 4 basic areas - more commonly called the 4 P's. Product, Place, Price and Promotion.
Many business owners focus on the promotion aspect of marketing without really researching or understanding the first 3 P's. Hopefully by reading this and following along with me, you'll learn all about the marketing mix and also gather marketing tips, marketing ideas that you can put into your business today!
Nate Stockard has given a great overview of each of the 4 P's.
P #1: Product
The product or service or selling must be defined first. What are you selling? How will it be packaged? Determine your product's features, and then build the benefits from them. At this point, you will make all of the decisions relating to your product or service: style, quality, packaging, warranty, etc.
P#2: Price
Pricing actually plays a vital role in the branding and image of your product. Determining your price can be difficult, especially if you product is in a widely-variable industry. You must determine pricing strategy, retail and wholesale pricing, possible bundling, and any type of discounts.
P#3: Place
Place refers to how you will distribute the product. Will you sell to retail stores, or will you sell directly to customers? Is your product a wholesale item? The decisions made about distribution will affect your marketing mix in terms of how you will warehouse your products, how you will process orders, what types of channels will you use, and how will you cover the market.
P#4: Promotion
Promotion is the area where you will make decisions on how people will learn about your product. What types of sales strategies and promotions will you use? What kind of sales force will you need to sell your product? How will you use public relations and publicity to support your product? There are many aspects of the promotion element of your marketing mix. In fact, the other three P's will affect your promotion strategy.
Plenty more marketing ideas and marketing mix strategies can be found over at the Marketing Ideas blog.
However it needn't be that hard or complicated. Sure, if you wanted to do a marketing course go right ahead. I can guarantee you that you'll be right back here still not understand how the information you've learned can actually be put to use!
This squidoo lens has been created to help small business owners understand that marketing their business really comes down to the marketing mix. This comprises of 4 basic areas - more commonly called the 4 P's. Product, Place, Price and Promotion.
Many business owners focus on the promotion aspect of marketing without really researching or understanding the first 3 P's. Hopefully by reading this and following along with me, you'll learn all about the marketing mix and also gather marketing tips, marketing ideas that you can put into your business today!
Nate Stockard has given a great overview of each of the 4 P's.
P #1: Product
The product or service or selling must be defined first. What are you selling? How will it be packaged? Determine your product's features, and then build the benefits from them. At this point, you will make all of the decisions relating to your product or service: style, quality, packaging, warranty, etc.
P#2: Price
Pricing actually plays a vital role in the branding and image of your product. Determining your price can be difficult, especially if you product is in a widely-variable industry. You must determine pricing strategy, retail and wholesale pricing, possible bundling, and any type of discounts.
P#3: Place
Place refers to how you will distribute the product. Will you sell to retail stores, or will you sell directly to customers? Is your product a wholesale item? The decisions made about distribution will affect your marketing mix in terms of how you will warehouse your products, how you will process orders, what types of channels will you use, and how will you cover the market.
P#4: Promotion
Promotion is the area where you will make decisions on how people will learn about your product. What types of sales strategies and promotions will you use? What kind of sales force will you need to sell your product? How will you use public relations and publicity to support your product? There are many aspects of the promotion element of your marketing mix. In fact, the other three P's will affect your promotion strategy.
Plenty more marketing ideas and marketing mix strategies can be found over at the Marketing Ideas blog.
Marketing Mix Revealed
Even more hints and tips on how to apply the marketing mix to your business
Marketing Secrets Revealed...
Discover the easiest way to implement the marketing mix into your business and get started attracting new customers today! The Start Up Marketing Kit features the 4 P's and also contains free and paid marketing strategies to be implemented asap. If you are serious about building your business then this marketing kit is a must have.Get your copy today New Guestbook
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divapromotions
Nov 10, 2008 @ 5:58 pm | delete
- Awesome thanks Leigh! Sorry for the delay in approving your comment!!!
have you checked out one of my blogs yet?
[in reply to Leigh@HireMyMum]
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Leigh@HireMyMum
Sep 12, 2008 @ 5:21 am | delete
- Hi Emma
Congratulations, on your new ventures, I believe you are going to be a huge success. I have Stumbled you ; )
Cheers
Leigh @ Hire My Mum
-
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Business Basics
Tips on business basics here
- Business Basics - 4 Crucial Elements to Business Success | Marketing Mix
- Marketing Mix
Marketing Mix Secrets Revealed… HomeContact us Business Basics - 4 Crucial Elements to Business Success December 3rd, 2008 by admin addthis_url = 'http%3A%2F%2Fwww.marketingmix.net.au%2Fbusiness-basics%2Fbusiness-basics-4-crucial-elements-to-business-success';
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Small Business Marketing Ideas
Benefits of joint ventures
Let's imagine a situation where we have two Internet marketers who know each other. One has a great product that will sell very well but he has no mailing list, no affiliates, nothing. The other is a great marketer with tens of thousands of subscribers in his mailing list, but the problem is he has nothing to sell to them. The very obvious solution here is to give the product to the great marketer with lots of contacts, and split the profits between them. This, my friend, is the very essence of Joint Ventures.
As more and more people start their own home based businesses online, the market is going to get more and more saturated and the competition will grow fiercer by the minute. The fastest, most effective and easiest way to build your own online business empire is through joint ventures. That is, join forces with other marketers to sell your product.
When you joint venture with another marketer, you can ask him (or her) to send an endorsement of your product to his existing mailing list, so you do not need to worry about collecting subscribers from scratch. You already have an easily accessible target market. The trick is to find the right marketer whose subscribers will be interested in your product. Once you achieve that, you won't even have to worry about generating traffic to your salesletter or finding affiliates to promote your product. All of that is already done for you.
When you joint venture with a solid player in the field, your perceived value and reputation will instantly increase because if this well-known person in the field is willing to work with you as a team, you must have some substance! Hence, when you manage to hook up a joint venture with someone who's a "regular player" in your niche market, your status will instantly change from "total newbie" to "guru status" overnight!
Last but definitely not least, you will get a chance to build a lasting relationship with a big figure in your niche market, and that alone will worth more than the profits you pull in over that single Joint Venture. When you have a dominant figure in the market as your friend, you will gain a lot of privileges and perks that no newbie like you could ever get their hands on - for example new insights into interesting product ideas and marketing strategies. You can't even buy that for hard cash!
So, start looking up a potential Joint Venture partner and try your best to convince him or her to strike up a deal with you!
As more and more people start their own home based businesses online, the market is going to get more and more saturated and the competition will grow fiercer by the minute. The fastest, most effective and easiest way to build your own online business empire is through joint ventures. That is, join forces with other marketers to sell your product.
When you joint venture with another marketer, you can ask him (or her) to send an endorsement of your product to his existing mailing list, so you do not need to worry about collecting subscribers from scratch. You already have an easily accessible target market. The trick is to find the right marketer whose subscribers will be interested in your product. Once you achieve that, you won't even have to worry about generating traffic to your salesletter or finding affiliates to promote your product. All of that is already done for you.
When you joint venture with a solid player in the field, your perceived value and reputation will instantly increase because if this well-known person in the field is willing to work with you as a team, you must have some substance! Hence, when you manage to hook up a joint venture with someone who's a "regular player" in your niche market, your status will instantly change from "total newbie" to "guru status" overnight!
Last but definitely not least, you will get a chance to build a lasting relationship with a big figure in your niche market, and that alone will worth more than the profits you pull in over that single Joint Venture. When you have a dominant figure in the market as your friend, you will gain a lot of privileges and perks that no newbie like you could ever get their hands on - for example new insights into interesting product ideas and marketing strategies. You can't even buy that for hard cash!
So, start looking up a potential Joint Venture partner and try your best to convince him or her to strike up a deal with you!
Small Business Marketing - Procrastination
Does it get to you??
Here's a great article from the flying solo crew all about procrastination. I've copied it here, but you can view heaps of other great articles at http://www.flyingsolo.com.au
Seven steps to overcoming procrastination
overcoming procrastinationProcrastination isn't a long term strategy, but sometimes us soloists treat it as though it is! If you're constantly putting things off that need to be done, then read on for ways to overcome procrastination and get you off the avoidance treadmill.
Procrastination happens to the best of us. And we rationalise our action, or lack of action in this case, in so many ways.
The harsh reality is that procrastination is just a nice way of saying avoidance. Why do we avoid things? Simple - because we don't enjoy them, or because they take us out of our comfort zone.
So instead of succumbing to the dreaded beast - try these tips for overcoming procrastination:
1. Be honest about why you are avoiding the activity. Is it fear, is it that you don't get on with someone, is it because you have to deliver bad news and you're not sure how to go about it?
2. Commit to doing it at a certain time. I usually do the things I'd prefer to avoid in the morning, so they are out of the way.
3. Prepare! If you need to write yourself a script, do it. If you need to have absolute quiet, switch off the phones for a couple of hours. Whatever it takes - set yourself up for success.
4. Just do it!
5. Reward yourself when you are finished - but only when you are finished. I reward myself by going out for coffee afterwards, or taking a break.
6. Appreciate the feeling of getting something done that would normally sit in your in-tray for ages.
7. Consider whether you should actually be doing this job. There are some things that we just aren't suited to, or that we don't have the expertise for. If the things you avoid fall into this category, consider outsourcing them to an expert.
What tasks do you tend to put off? Which of the above strategies for overcoming procrastination might work for you?
Enjoy! Emma -
Diva Promotions
Seven steps to overcoming procrastination
overcoming procrastinationProcrastination isn't a long term strategy, but sometimes us soloists treat it as though it is! If you're constantly putting things off that need to be done, then read on for ways to overcome procrastination and get you off the avoidance treadmill.
Procrastination happens to the best of us. And we rationalise our action, or lack of action in this case, in so many ways.
The harsh reality is that procrastination is just a nice way of saying avoidance. Why do we avoid things? Simple - because we don't enjoy them, or because they take us out of our comfort zone.
So instead of succumbing to the dreaded beast - try these tips for overcoming procrastination:
1. Be honest about why you are avoiding the activity. Is it fear, is it that you don't get on with someone, is it because you have to deliver bad news and you're not sure how to go about it?
2. Commit to doing it at a certain time. I usually do the things I'd prefer to avoid in the morning, so they are out of the way.
3. Prepare! If you need to write yourself a script, do it. If you need to have absolute quiet, switch off the phones for a couple of hours. Whatever it takes - set yourself up for success.
4. Just do it!
5. Reward yourself when you are finished - but only when you are finished. I reward myself by going out for coffee afterwards, or taking a break.
6. Appreciate the feeling of getting something done that would normally sit in your in-tray for ages.
7. Consider whether you should actually be doing this job. There are some things that we just aren't suited to, or that we don't have the expertise for. If the things you avoid fall into this category, consider outsourcing them to an expert.
What tasks do you tend to put off? Which of the above strategies for overcoming procrastination might work for you?
Enjoy! Emma -
Diva Promotions
None
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by divapromotions
Hi! My name is Emma Rhoades and I own Diva Promotions.
I'm passionate about helping women in business and small business owners to understand marketin...
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