Hello again.. I've given you a brief description about small business marketing and target marketing. Now lets focus our attention to online marketing or Emarketing.
Emarketing or Online marketing is basically marketing your product or service on the net. They include search engine marketing, display marketing etc which we will cover some other time. Emarketing is a great way to promote ones product/service. The marketing possibilities are limitless. You can mail your prospective customers, make websites about your products, write about your products in blogs etc.
The main advantage of Emarketing is its relatively cheap. One can reach a wide audience with a very nominal fees as compared to giving advertisements in newspapers or in tv ads. Online marketing can be measured and traced which makes it easier to know what are the customers preferences and what is more appealing to the customer. Another advantage of internet marketing is that the customer can see the ad placed on the web when ever he likes as compared to tv ads which dont tell at what time which ad is going to come or billboards which we just drive by.
The limitation of online marketing is nothing beats seeing, tasting, smelling the product first hand which we just can not do online. Secondly not every body is tech savvy hence ones message may not reach every desired customer. This aside online marketing is here to stay!!
Wednesday, March 19, 2008
Saturday, March 15, 2008
Target marketing
Target marketing is the heart and soul of any business especially small businesses. Target marketing is going after the best possibile option for selling your services/products. Target marketing may sound easy but it isnt. There is alot of thought and planning going into it.
The first thing one needs to do is evaluate and identify the market segment. The segment should have the opportunity to grow. Choosing the correct segment to target is of utmost importance if you are to succeed.
After identifying your desired segment evaluate the surroundings. Evaluate the competition, new entrants, buyers and suppliers. All play a major role and all need to be evaluated. The strategies and policies of competition should be studies to get an idea as to what they are offering and what will you offer which would deem more attractive to the customers. Buyers should also be evaluated as you dont want to sell a hot sports car to a busy housewife who drops her children to school everyday.
Finally after all the huff and puffs of evaluating its time to select the best possible segment.
In short Target marketing= best possible segment= most profit
more to follow. bye for now
The first thing one needs to do is evaluate and identify the market segment. The segment should have the opportunity to grow. Choosing the correct segment to target is of utmost importance if you are to succeed.
After identifying your desired segment evaluate the surroundings. Evaluate the competition, new entrants, buyers and suppliers. All play a major role and all need to be evaluated. The strategies and policies of competition should be studies to get an idea as to what they are offering and what will you offer which would deem more attractive to the customers. Buyers should also be evaluated as you dont want to sell a hot sports car to a busy housewife who drops her children to school everyday.
Finally after all the huff and puffs of evaluating its time to select the best possible segment.
In short Target marketing= best possible segment= most profit
more to follow. bye for now
Tuesday, March 4, 2008
SMALL BUSINESS MARKETING
In this age of economic boom there are many small businesses being set up and offering their services. The competetion is immense hence there is a special emphasize on marketing.
Small business marketing is all about getting the most from your investment. Most small businesses are on a knifes edge when it comes to finances and resources hence a successful marketing strategy is a must for a small business to be kept afloat.
So, how to successfully go about marketing your small business? There are many ways but the most common of them all is web marketing. Most small businesses bulk mail their prospective customers offering their products and services. This may or may not have a desired effect. What one should know that not all of the customers have the same need. Hence it is important to first target the customer which is in need of the service the most. The biggest benifit of web marketing is that not only it is cost effective and cheap, if one gets his demographic and geographic placing right the chance of growth is unlimited.
Another important aspect of Small business marketing is knowing your strengths and limits. It is extremely important to find the traits of the business and differentiate them from the competition. Your target market wants to know why should they choose you if they have other alternatives. One should learn to segment the market and focus on that segment which requires or will most likely go for your services. This is also called target marketing.
In short, for a small business to market its product and services successfully, emphasize should be given on demographic and geographic segmentation and focusing on customers most likely to buy and use the service.
Small business marketing is all about getting the most from your investment. Most small businesses are on a knifes edge when it comes to finances and resources hence a successful marketing strategy is a must for a small business to be kept afloat.
So, how to successfully go about marketing your small business? There are many ways but the most common of them all is web marketing. Most small businesses bulk mail their prospective customers offering their products and services. This may or may not have a desired effect. What one should know that not all of the customers have the same need. Hence it is important to first target the customer which is in need of the service the most. The biggest benifit of web marketing is that not only it is cost effective and cheap, if one gets his demographic and geographic placing right the chance of growth is unlimited.
Another important aspect of Small business marketing is knowing your strengths and limits. It is extremely important to find the traits of the business and differentiate them from the competition. Your target market wants to know why should they choose you if they have other alternatives. One should learn to segment the market and focus on that segment which requires or will most likely go for your services. This is also called target marketing.
In short, for a small business to market its product and services successfully, emphasize should be given on demographic and geographic segmentation and focusing on customers most likely to buy and use the service.
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