Marketing and Business Elements

Archive for the ‘Marketing’ Category

1. Learn the marketing platform based on location.

Although their website is an important piece of the puzzle, the main components of the marketing for franchises is based on location, with a variety of third party sites that allow users of smart phones to learn about the business around.

Ranging from service selection engines (which allow users to select a service in your area based on the location of your phone.)

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Marketing is the all-encompassing process of getting a product or service in the hands of your customers. The steps involved include market analysis, product creation, advertising strategy and distribution. This article addresses how these four key components fit together within the marketing process.

History
The actual word “marketing” wasn’t coined until 1884, and it was used more in an abstract sense: where to sell what, and when. Considerations such as customer needs, supply and demand, and distribution didn’t come into play until the Industrial Revolution.

The advent of international trading opportunities, coupled with increasing variation in product supply and demand, necessitated a more systematic approach to retail. By the 19th century, marketing had become a technical field of study incorporating both economic and psychological approaches within marketing practices.

Function
A good marketing plan is the treasure map to a business’ success. A well-marketed product finds the customer, gets her attention, and fills a need or want. These principles apply both online and off-line.

Every business has its own brand and place in the market. How a business markets its products must fit the company’s overall purpose.

Cost factors, distribution routes, product category and advertising style are all dictated by the company’s brand and capabilities within the marketplace. Read the rest of this entry »