What Is Marketing?
A Definition of Marketing...

How Can Marketing Help Grow Your Small Business?

Welcome to the marketing section!  Here we'll discuss exactly what is marketing and how it can help grow and build your small business.

First, a definition of marketing "The management process responsible for identifying, anticipating and satisfying customer requirements profitability" The Chartered Institute of Marketing

So what does the above definition of marketing actually mean?  We'll discuss this in more 'lay' terms below.

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Many people get confused between the terms marketing plan, advertising and selling.

Let's clarify this.  

Advertising is where you strategically place adverts to get your message out to your potential customers (target market).  This is the middle bit of the process.  Known as the promotional marketing strategy.

Selling is basically where you exchange money with your customer.  This is the last bit of the process.

So marketing is the whole process from beginning to end.  Starting by identifying who your customers are; get your message across to them (advertising); satisfy your customer with the benefits you can offer to them; and then sell them your product or service by exchanging the money.

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You see, what the expert marketers know is that people don't buy anything because of what it is.  People buy items/services because it will solve a problem for them.

And because the marketers know this, they can market their product/service to their target group the right way.

For example, my washing machine has just broke.  I won't wake up tomorrow morning and say, "Oh, I am so excited to go out and buy a lovely big square lump of tin to stand in my utility room!".

Nooo, I would probably say "I suppose I'll have to go out and buy a washing machine as I need all those clothes washed."

See the difference?  I don't want an ugly washing machine for what it is, I want it for what it does. So I'll go out and find an electrical store that put across the benefits of the best washing machine for me.

I eventually choose a washing machine from Shop A because it listed all the benefits to me that would solve my dirty clothes solution.  

However, the same washing machine was in Shop B at a lower price, but I did not know that it offered the solution to match my problem.  So I chose to buy from Shop A because it 'marketed' the washing machine more effectively than Shop B even though Shop B's was lower in price.

And that is what 'clever' marketing is all about.

So no matter what product or service you have, don't sell it - market it.  


People are much much more receptive when they are being told how product x can solve all their problems.  The sale is practically 'in the bag' after that.

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A real life example. When I ran my house cleaning business and I got a telephone enquiry, I listed all the benefits of my service to the enquirer. I didn't try to sell my service as that would just get their back-up straight away and put the phone down. But once I started letting them know of the many benefits I offered, some way above my competitors, then they didn't feel like they were being sold to. And I didn't feel like I was selling to them. So for example, if an old lady rang up and she never went out of the house, then I listed the benefit that my cleaners all came in uniform; in a company car; were police checked and referenced. This would make my old lady feel secure in that she was letting in professional people by seeing them in uniform. But if a professional gentleman rang up who was always at work, then I listed the benefit that we offered a secure key holding service and that my cleaners were police checked and referenced. This solved his problem of not being there to let the cleaners in, and that he could trust the cleaners as they were police checked. And only after I had exhausted my list of benefits, would I mention the price.

 

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So do you understand "What Is Marketing?" now?  That it is a process, a method of knowing and understanding your target market and providing a solution to their problems.

The marketing process works exceptionally well for small businesses just as it does for large companies.  Some large companies invest thousands into their marketing plan.

But for the little guy like you, just sit down and digest this page and think about

1. Who your customers really are.



2. You place your adverts and your marketing message out where you think, or even better know, where your target market will be looking.



3. When you get an enquiry from a prospect, you list the benefits/solution your product or service can do for them.



4. Then and only then, you mention the price.  The last bit is the sale. By then you should already have them 'sold' on your service/product.

This is the very basics of marketing.  There are whole books written on this subject and I don't claim to be an expert in this field, because I am not.

But I do find it fascinating however, as you learn to get 'clever' in your marketing efforts.  What I mean by 'clever' is not conning your customers, just finding new and exciting ways to market your business to help it grow and expand.

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To Visit Other Areas of The Marketing Section, Please See:

• Online Advertising

• Offline Advertising

• Sample Marketing Plan

• Small Business Marketing Strategy

Return from What Is Marketing page to Starting A Home Business

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