The basic principles of marketing
Marketing-oriented organisations focus like a laser beam on customer needs and
wants. They anticipate demand. They enlarge demand through promotions and
advertising. Then they satisfy that demand.
Unfortunately, too many companies either don’t understand this basic principle
or lack the resolve to see their strategies through to completion. In fact, many
businesses start thinking about marketing campaigns only after sales have
begun to sag.
Other reasons why marketing plans fail:
- No sense of the future. Successful marketing is an investment in your
organisation’s future. Be creative. Focus on new opportunities. Always think
of new ways to enhance exposure for your product.
- No measurement of results. Like any other initiative, marketing projects
must be tested and measured. To measure results, assign someone to
capture sales and customer information and give them access to all revenue
and expense data. Once results are measured, analyse them and share
them throughout the organisation. Then spend money on what generates
the best return.
- Too much interference. Some CEOs approve a marketing plan, and then
insist on constantly making adjustments. Sometimes, the best approach is
to wait until marketing efforts can be suitably measured and then fine-tune
the plan. Constant meddling only distorts results and demoralises the people
in charge of driving the campaign.
For some organisations, maintaining a full-blown marketing department may be
too costly and impractical to justify. One option in these circumstances is hiring
a professional marketing consultant to ensure that your product meets customer
demands the way it should.
READ MORE (Marketing - Is your organisation
marketing oriented?) >>
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