Marketing is putting the right product in the right place at the right time, for a right price. It centers on the satisfaction of the customers’ wants and needs so that you can generate sales. But successfully securing a deal with your client is only the last phase of the marketing process. Two more phases still need to be undertaken before you can effectively reach your goal of selling your product or service to your target market.
Phase 1: Definition Phase
This is when you define your circumstances and ask yourself the following questions:
What is your business? It is important to identify, first and foremost, your core business and its nature.
Who are your customers? Knowing your existing and potential customers can help you device means on how to reach them.
Who is the competition? Keep your friends close, and your enemies closer. This is also true when it comes to marketing, since keeping tab of your enemy can help you situate your business and find a niche for it.
What are your objectives? Having objectives means you have a direction you intend to see through. That you understand what you want to achieve in your marketing strategy is a sign that you have a clear notion of where you want to be – and that is to guarantee customer sales for your company.
Phase 2: Preparation Phase
This is when you do your market research and customer input in order for you to decide what products or services to offer. The customers are the hearts (and the money) of your sales so it is essential that you understand what are your customers’ needs, preferences and expectations. Start by simply talking to people, as well as getting written or spoken requests and insights. Then, after your product is determined, you can proceed to setting competitive yet affordable prices and finding the perfect place to do your business.
Phase 3: Selling Phase
This is the final phase, wherein after your products have been manufactured and produced, you are now all set to sell them. This usually includes promotion, advertising, and then sales. To inform your potential customers that you exist is good; to get them inside your shop, even better; to convince them to buy your product, that is the finest. A sure sign that your marketing strategy is working wonders to your business.
Anna Bennett is a brand manager for a major clothing retail. She is currently based in Seattle, Washington.