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No matter what industry your business operates in, there is competition to beat and ever-changing trends that you need to keep up with.
You need to find a way to differentiate your business. Whether you're trying to build awareness for your business or maintain its status, marketing is essential to getting people's attention and showing them what you're capable of.
Marketing strategies are the roadmap for your business to increase brand awareness and increase consumer engagement, relationships and trust. Creating a marketing plan takes time, effort and sometimes a budget. However, it can pay huge dividends.
Once you've developed your marketing strategy, you should use the "Seven P's Formula" to continually evaluate and reevaluate your business. A formula can help you create a system of checks and balances to physically demonstrate that your business is constantly evolving to ensure your marketing efforts are reaching your target audience.
Since technology is an ever-changing factor, it's important to update your marketing campaign to include more than just word of mouth. There are many distribution channels that you can use these days, such as digital marketing, social media, and podcasts.
Regardless of the platform you choose as your marketing tool, the Seven Ps can serve as a proven foundational marketing strategy that you can use to tailor your marketing efforts to best suit your business.
The 7 Ps of Marketing include:
Read on to learn more about the 7 Ps.
1st product
First, practice looking at your product as if you were an outside marketing consultant hired to help you decide if your business is a business. Ask leading questions such as: "Is your current product or service, or combination of your products and services, right for today's market and customers?" Does this product solve the customer's problem? »
Whenever you're struggling to sell all the products or services you want, you should make a habit of honestly evaluating your business and asking yourself, "Are these products or services right for our customers?"
Is there a product or service you offer today that you would no longer offer with the knowledge you have now? Compared to your competitors, is your product or service significantly superior to all other products available? If yes, what is it? If not, can you develop an area of choice? Should this product or service even be offered in today's market?
2. Price
The second P in the formula is price. Make a habit of constantly reviewing and revising your pricing strategy to ensure that the products and services you sell still reflect current market realities. Sometimes you have to lower the price. At other times, raising prices may be appropriate.
And other times, you need to research your competition to see what similar products exist in your industry to determine your competition's pricing. Many companies find that the profitability of some new products or services does not justify the effort and resources devoted to producing them. By raising prices, they may lose a percentage of customers, but gain the remaining percentage on each sale. Could it be suitable for you?
Sometimes it is necessary to change the conditions of sale. If you spread your price over several months or years, you can sometimes sell for much more than you can today, and more than you can charge in interest for the cash flow gap. Sometimes you can bundle products and services with special offers and promotions Sometimes you can add free extras that cost little to produce but make your product prices more attractive to your customers.
In business, as in nature, whenever you encounter resistance or frustration with some part of your sales or marketing plan, be prepared to revise that area. Be open to the possibility that your current pricing structure may not be ideal for the current market. Be open to adjusting your pricing as needed to stay competitive, survive and thrive in a rapidly changing marketplace.
Related: How to Create a Marketing Plan - Entrepreneur.com
3. Promotion
A third habit in marketing and sales is to constantly think about advertising. Advertising includes all the ways you communicate your products or services to your target market, as well as how you sell and market them.
Small changes in how you promote and market your product based on segmentation can lead to dramatic changes and growth. Even small changes to your listing can lead to an immediate increase in sales. Experienced copywriters can often increase the response rate of an ad by 500% by changing the ad headline.
Companies large and small in all industries are constantly experimenting with different ways to advertise, promote and sell their products and services. now? Search Engine Optimization (SEO) is used to increase the quality and quantity of traffic to a website.
But whatever method is preferred at the moment, there is one proven rule. Whatever marketing and sales methods you use today, sooner or later it won't work anymore. Sometimes it stops working for reasons you know and sometimes for reasons you don't. However, at some point, your marketing and sales methods will no longer work and you will need to develop new sales, marketing and advertising methods, offers and strategies.
Although many doubt that email marketing and Facebook ads are the most popular forms of marketing today, most of the market has already switched to the new method.
The top five advertising methods in 2022 include:
- Short video announcement without sound.
- Mobile game advertising.
- Machine learning and artificial intelligence.
- Data collection and advertising by third parties.
- LinkedIn and other social media platforms.
4th place
The fourth P of the advanced marketing mix is where your product or service is actually sold. Develop the habit of considering and thinking about the exact physical location where the customer meets the salesperson. Sometimes a change in location can lead to a rapid increase in sales.
You can sell your products in different places. Some businesses use direct sales to send out their salespeople and talk to a potential customer in person. Some sell through telemarketing. Some are sold by catalog or mail order. Some sell at fairs or grocery stores. Some sell similar products or services in joint ventures with others. Some companies use representatives from manufacturers or distributors. Many companies use a combination of one or more of these methods.
In any case, the entrepreneur must make the right choice about the best place or location so that the customer can get the important information about buying the product or service necessary for the purchase decision. what do you have How should you change it? Where else can you offer your product or service?
5. Packing
The fifth element of the marketing mix is packaging. Practice stepping back and looking at each visual element of the physical packaging of your product or service through the eyes of a key prospect. Remember that people get their first impression of you within the first 30 seconds of seeing you or any part of your business. A small improvement in the packaging or appearance of your product or service can often lead to a completely different reaction from customers.
When it comes to the packaging of your business, product or service, you need to think about everything that happens with customers: what they see from the first contact with your business to the purchase process. Consider branded packaging to make a good first impression.
When your customers begin to perceive your brand with an attractive design, they are more likely to remember a pleasant association experience. Placing your company logo and social media tags is another great addition to custom packaging that can encourage customers to engage with your brand and encourage repeat interactions.
Packaging is the external appearance of your product or service. Packaging is also about your employees, their clothing and how they look. This goes for your office, waiting room, brochures, correspondence and every visual element of your business. Everything is important. Everything helps or hurts. All this affects the trust your customers have in working with you
At IBM, Thomas J. Under Watson, Sr.'s guidance, he soon concluded that 99% of a customer's eye contact with his company, at least initially, would come from IBM salespeople. Because IBM sold relatively sophisticated high-tech equipment, Watson knew that customers would have a high level of trust in the supplier. So he introduced a dress and hairstyle code that became a rigid set of rules at IBM.
As a result, every salesperson had to look professional in every way. Every element of his outfit - dark suit, dark tie, white shirt, traditional hairstyle, shiny shoes, clean nails - and every other sign conveys professionalism and expertise. One of the biggest compliments is, "You look like an IBM guy."
6. Positioning
Next P is placement. You must make it a habit to constantly think about your place in the hearts and minds of your customers. How do people think and talk about you when you're not around? How do people think and talk about your business? How do you position yourself in your market in terms of the specific words people use to describe you and your offerings to others?
In the popular book Positioning by Al Reiss and Jack Trout, the authors point out that how your customers see you and think about you is the single most important factor in your success in a crowded market. Attribution theory states that most customers perceive you positively or negatively with an attribute. Sometimes it's a "service". Sometimes it's "awesome". Sometimes it's about "quality technology", like with Mercedes-Benz. Sometimes it's "the best car to drive", as is the case with BMW. Either way, this feature determines how ingrained and likely customers are to buy your product or service and how much they will pay.
Practice thinking about how you can improve your ranking. Start by identifying the location you want. If you could make a perfect impression on the hearts and minds of customers, what would it be? What should you do in every customer interaction to get customers to think and talk this way? What changes do you need to make in how you interact with customers today to be considered the best choice for tomorrow's customers?
7. People
The final P of the marketing mix is people. Develop the habit of thinking from the perspective of the people inside and outside your organization who are responsible for every element of your sales, marketing strategy, and operations.
It's amazing how many entrepreneurs and business people work so hard to think through and mix every element of marketing strategy and then ignore the fact that every decision and policy should be made by a specific person in a specific way. Your ability to select, recruit, hire and retain the right people with the necessary skills and abilities to do the job is more important than anything else.
তার বেস্টসেলার গুড টু গ্রেট-এ , জিম কলিন্স উল্লেখ করেছেন যে সেরা কোম্পানিগুলির দ্বারা ব্যবহৃত সবচেয়ে গুরুত্বপূর্ণ ফ্যাক্টরটি ছিল যে তারা "সঠিক লোকদের প্রথমে বাসে এবং ভুল লোকদের প্রথমে রাখে।" একবার এই কোম্পানিগুলো সঠিক লোক নিয়োগ করলে, দ্বিতীয় ধাপটি ছিল "সঠিক লোকদের বাসে সঠিক আসনে বসানো।"
ব্যবসায় সফল হওয়ার জন্য, আপনাকে প্রতিটি কাজ এবং প্রতিটি দায়িত্ব কে নিতে চলেছে তা নিয়ে চিন্তা করার অভ্যাস করতে হবে। অনেক ক্ষেত্রে, যতক্ষণ না আপনি সঠিক ব্যক্তিকে আকৃষ্ট করতে এবং তাদের সঠিক জায়গায় রাখতে না পারেন ততক্ষণ পর্যন্ত এগিয়ে যাওয়া অসম্ভব। সর্বকালের সেরা ব্যবসায়িক পরিকল্পনাগুলির মধ্যে অনেকগুলিই আজ তাকগুলিতে রয়েছে কারণ [যারা তাদের তৈরি করেছে] মূল ব্যক্তিদের খুঁজে পায়নি যারা সেই পরিকল্পনাগুলি কার্যকর করতে পারে৷
মিলিয়ন ডলার অভ্যাস থেকে উদ্ধার করা হয়েছে
পি-মার্কেটিং
আপনি একটি ই-কমার্স ব্যবসা, শারীরিক দোকান, ছোট ব্যবসা বা বড় কর্পোরেশন চালাচ্ছেন না কেন বিপণন অপরিহার্য। যদিও প্রবণতা পরিবর্তিত হতে পারে, মার্কেটিংয়ের 7 Ps সম্ভবত সত্য থাকবে এবং প্রতিটি নতুন প্রবণতার সাথে বিকশিত হবে।
মনে রাখবেন পণ্য, বাজার, গ্রাহক এবং চাহিদা দ্রুত পরিবর্তন হয়। আপনি সঠিক পথে আছেন এবং আজকের বাজারে সম্ভাব্য সর্বোত্তম ফলাফল পাচ্ছেন তা নিশ্চিত করতে আপনার ক্রমাগত সেভেন পি-এর মার্কেটিং মডেল পর্যালোচনা করা উচিত।
আরো বিপণন সম্পদ খুঁজছেন? এখানে আপনার ব্যবসা বাড়াতে উদ্যোক্তা বিপণন হাব অন্বেষণ করুন ।
