Marketing is a business process about which much is written, however is often not completely understood. Many think that "marketing" and "advertising" are interchange-able words. This is not the case. Marketing is really a complete, integrated approach to doing business.
Many businesses operate on the basis of a "product driven" approach. That is, the business has an ability to produce or provide a particular product and tries to find a market for that product. The enterprise is driven from the orientation of the business and its product.
A "marketing" approach however is based on customer needs. In a marketing approach, the business identifies a particular need that exists in the marketplace and endeavours to find a product or service that meets that need. Let me use a simple illustration. The local hamburger store sells hamburgers. But what do McDonalds sell? The sale of hamburgers is only a part of the McDonalds experience for the customer. The McDonalds' system provides the customer with much more than the hamburger. It provides a hamburger that the customer knows will be of the same quality time after time. The customer will experience prompt and friendly service, time after time. If you look at what McDonalds have done, you see that they have discovered many "needs" apart from the basic need of the customer to get a hamburger. There are many local shops that sell hamburgers, mostly run by very hard working owners, but their product driven approach limits their success. McDonalds' market driven approach has enabled them to become "the most successful small business in the world".
Now, you may not want your business to become another McDonalds, but there is much that can be learned by examining their approach. Adopting a marketing oriented outlook means that you look at the needs of your customers, beyond the physical need that your product or service meets. What are the other needs that your customers are looking to satisfy in their dealings with your business? What are they looking for in terms of the way they are treated in the purchasing process? Are your salespeople helpful and courteous? How is your telephone answered? What can customers expect about the quality of your products, delivery, installation, after sales service, warranties, etc?
The marketing approach sees every aspect of your business as being a tool to create more or higher value sales. The marketing approach enables you to differentiate your business from your competitors, not by selling a different product, but by providing customers with a different experience when they deal with your business. When you find the answers to the questions we have just asked and find ways to consistently provide quality in product and service aspects your business will attract more customers who are willing to pay more to have their needs met.
A recent PIMS survey (Profit Impact of Marketing Strategy) found that businesses who were perceived by their customers to provide better service could charge an average of 9- 10% more for the same basic product or service. It was also found that they grew twice as fast as competition and gained market share at an average of 6% per year while competitors lost ground.
The situation is clear. Becoming a marketing organisation, focussing on finding solutions to customer needs, is today's approach to achieving better results.
(c) 2003 Greg Roworth, Progressive Business Solutions
Greg Roworth is the Managing Director of Progressive Business Solutions Limited, a business development consultancy firm with branches in Wellington and Auckland, New Zealand. Greg has created a unique business development program that assists business owners transform their business from a state of total dependency on them to a state where the business works so well they don't have to.
Greg is also the author of "The 7 Keys to Unlock Your Business Profit Potential," which descibes the fundamental keys a business needs to achieve this transformation. Find out more, get 2 free chapters, or buy the book online at http://www.small-business-success.ws
Whether you go to a Chamber of Commerce event, a... Read More
In the past, purchasing ad space was the solution to... Read More
Multi-level marketing is really a partnership. You go into... Read More
This really and truly is the easiest (and most profitable)... Read More
Finally, Something You Learned In Math Class Makes Sense In... Read More
It's a sunny morning and you're sitting in your office.... Read More
Toby is one of our two family pets (both cats).... Read More
Ever sit with a single puzzle piece of clouds and... Read More
A simple answer to that is: Yes, Marketing Miracles happen!... Read More
Each and every day those of us on the Internet... Read More
Second in a series of three articles:What if you could... Read More
Corporate marketing groups - especially bandwidth-challenged small-to-mid-sized departments - can... Read More
You have a great product or service? Now, how should... Read More
Qualitative research, whether individual interviews, in-homes, focus groups, ethnographies and... Read More
Apart from being the fastest, easiest, and most profitable strategy... Read More
If your company doesn't have a direct marketing program in... Read More
If you are operating a business from your home and... Read More
Here are 9 low-cost but highly effective marketing tips to... Read More
Are you still waiting for business to turn around before... Read More
THE GREAT MAIL ORDER MYTH There are a number of... Read More
If you use direct mail postcards to generate leads or... Read More
Do sales come from your ezine regularly? How many well-written... Read More
All too often people look at marketing ROI in terms... Read More
The postcard can be a very powerful marketing tool. Many... Read More
Hopefully we are all adults here, so let's talk about... Read More
Turning a modest $100,000 annual turnover into $1,191,817 may sound... Read More
I have been working on a direct mail campaign for... Read More
Whether you market online or offline, you already know the... Read More
Do you spend a lot of time and energy courting... Read More
1. Personal Fundraising letters are about as personal as you... Read More
According to the Center for Exhibition Industry Research (the trade... Read More
"Make money for taking surveys"," Cash for your opinion", "Make... Read More
Organizations often get stuck in neutral when it comes to... Read More
Most business owners get so involved in the work of... Read More
Celebrities are the tastemakers that drive brand awareness and usage.... Read More
Do you ever wonder if you could be doing a... Read More
Your URL (www) should be everywhere and more.I know many... Read More
First, define the end user (or ideal client) of your... Read More
What would you do with 500, 1000 or more additional... Read More
One of the things that makes the Internet fun is... Read More
Let's be honest, when you're writing sales material for a... Read More
Every direct mail package you drop in the mail should... Read More
Boomers are a prime and growing target audience. Does your... Read More
Without new business, your restaurant won't be able to grow.... Read More
I went to a networking event the other day where... Read More
Direct marketing is advertising from a manufacturer or front-end supplier... Read More
First in a series of three articlesRegardless of your law... Read More
It is easy to focus on what remains outstanding and... Read More
Ok, before we get down to the benefits of... Read More
I would like to introduce you to one of my... Read More
Owning a small business isn't easy, especially if you are... Read More
Joint Venture marketing has become a highly popular way for... Read More
"There is only one way to judge the effectiveness of... Read More
Think the best way to get more customers is to... Read More
Want to know what the highest-impact, lowest-cost tool is in... Read More
When your envelopes aren't opened, you can't make money! Beforeyou... Read More
One of the very basic conditions of being a successful... Read More
A step-by-step guide to creating a growth strategy... Read More
Don't want your direct mail to end up in the... Read More
Do you find it hard to ask for referrals? I... Read More
What if -- every time you had a networking appointment... Read More
People do business... Read More
It's interesting to see how resourceful people become when starting... Read More
With the advent of spring, trade shows begin to blossom.... Read More
One of the biggest mistakes we could make as business... Read More
Easy Direct Marketing Methods for Insurance AgenciesThis Month: Strategies for... Read More
Marketing |