A few thoughts:
1. Many low-end brands thrive on amazing marketing and sub-par products. Walmart comes to mind.
2. Definitely. Leads and sales can come from anywhere. Every level of employee should be trained in what to say in conversation, what to post on Facebook, etc. Plus the culture of the business is crucial to create the proper environment and employee satisfaction so the marketing comes naturally.
3. Word of mouth of course.
4. Marketing is a culture. It's not just about throwing out an advertisement. It's the full embodiment of your brand, how your products are made and how it's discussed in the work place, online, offline in sales pitch, etc etc
5. Online can be critically important for getting out information on your product/services. It also has the power to crush you based on negative reviews, etc. There are also unscrupulous competitors that will try and speak badly of your business. A pro-active approach is the best way to go online.
Agree. Thanks for additional insights.
As you mention that marketing is more then advertisement, But as far as my point of view is concern marketing is vital part of business, As focus on importance of internet and other resources of social media are absolutely correct. Apart from Good marketing of product , The quality of the product matter.
Pauljoachim mentioned a very important aspect of marketing that many people ignore. His #2 point is correct. Public speaking is a very effective method of marketing. Most people think this only occurs when you stand on a stage and give a formal presentation and never really think that a casual conversation among a couple of strangers/acquaintances/friends in a party/train ride/shopping/bus stop atmosphere can count.
Online and offline marketing are the most important fundamentals of marketing. Nowadays people are more focusing on the online advertising of the business which has become more convenient and easier in marketing. Social media and search engines are becoming important day by day for the businesses.
There are number of important and useful point discuss above concerning marketing.Apart from this i want to add two more point which play vital role in marketing.
1. The quality of the product.
2. The skilled marketing person how knows the market environment, market value and market demands, Apart from this He/She must have proper skill of communication.
Good points. #1 in your point is tied to what I described in #1 in the article - Great marketing without great product is a waste of money. #2 is what I called strategic marketing, which is to understand the market you serve, target customers and value your product provides. Thanks for your additional insight.
I have to say, I don't know if I totally agree with the #1 point about great marketing without great product is a waste of money idea. There are many items that are very poor in quality and still manage to turn a huge profit because of the way that product is being marketed (usually a convenient item). If this point were always true the dollar store idea would have never have taken off as much as it has. Convenience can make a hugh difference. I think it all depends on what kind of an item you would like to market.
From My Point of View Marketing is the way of advertising the business, There are two methods for Marketing : Offline Marketing & Online Marketing. In Online Marketing we use the PPC, SEO, SMO, SEM etc. for doing the Online Marketing of any business. On the Other Hand in Offline Marketing we can promote our business locally or globally with the helps of Banners, Digital Displays, News Paper Ads, Radio ads and many more.For getting overall Benefits we need to do online as well as Offline marketing for our business.
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Here's the definition.
(2) determination of its price,
(4) development and implementation of a promotional strategy.
Marketing starts during concept development. It continues through pricing it based on many things like; consumer demand and availability as well as market research. Distribution channels include all available resources online and offline and are selected by knowing your target audience and what they watch, listen to, read or where they hang out.
The action or business of promoting and selling products or services, including market research and advertising.
I agree completely with rule #1, great marketing with subpar products is a total waste of money, however, I also believe that an amazing product with terrible marketing is a waste of a great product. As seen on Shark Tank, sales is the most important aspect of any business. The best products in the world, with terrible marketing, remain worthless. My company has helped simplify marketing for small business all over, and (of course I'm a bit biased) but is one of the most effective forms of marketing.
Rule 2 - I agree completely, everybody enjoys their job more when they believe in their product and their company. They need to speak highly of their business 24/7.
3? The best marketing usually doesn't cost anything.... it really depends on how you define best. if you have no advertising budget, that is an accurate statement. If you're a larger company, you have to spend money to maintain brand recognition. I wish it were free, but it's not possible.
4 - Absolutely! Marketing is more than just spreading the word, it's a lifestyle incorporating your brand in every breath you take. (cue Police background music)
Social media critical? ABSOLUTELY! If you are old school or just "Too busy", hire somebody. You cannot leave social media to the other businesses. You have to stay in front of as many eyeballs as you can, as often as you can.
"Marketing" is so vast a subject; yet can be summarized ,simply.
Marketing is everything that can be done to contributre, to driving customers to buy your product / service.
In my opinion marketing is not only advertise your product,Its a type of study in which learn the market demand,The value of your product and the time as well.If you analyze the different side of marketing you will find that is the base of business.
Marketing is a way of providing the needs, wants, and demands of consumers and businesses through the means of promotion to create an exchange which is usually currency. Marketing is important for the function of any organization requiring an exchange to survive. Marketing is a practice and even an art of identifying potential and current markets, finding a way to compete in these markets, and deploying strategies to meet sales goals which equals profitability for a company.
Marketing is often misunderstood by many business owners. Most of the mistaken it for advertising. To me marketing is much more than advertising. I have come up with my own 5 fundamental rules of marketing.
- Great marketing without great products is a waste of money
- Marketing is everyone’s responsibility, not just manager’s or owner’s
- The best marketing usually doesn’t cost you anything
- Marketing means more than just advertising
- You cannot ignore Internet and social media marketing in these times
Would love to hear your opinion on these. What do you think? Would you add any more to these?
You can find the entire article with more details here - 5 Fundamental Rules of Marketing for Small Business Owners | Small Biz Viewpoints