If you are one of those people with a little start up business then it might be confusing to understand what you can do to help develop and widen your business. There are often a number of information people starting a new business lack. One of the important thing is you should learn the competition and the reason why people love their product. Once you know that then you can make use of marketing strategies to help develop your business. There is a marketing strategy called ‘Marketing mix or P’s of marketing’ and another called the ‘C’s of marketing’ These two strategies are closely related to each other and when combined and applied can solve business problems and create a better brand experience for the product whereby increases the demand for the product.
First P – Product: First C - Customer Solution
As per the mix model, this includes things about the product like the product quality, storage, placement, graphics, product packing and the other information on the product. The target population must be made aware of the product and its qualities. This is where you use public, social and other platform to push your product and get people talking about it. This also includes things like choosing a logo to represent your business. Most of the time, people are faced with dilemma in choosing the appropriate logo. There are several brand design agency and graphic design agency, which might help you with your problems and even help with the branding of your product.
However instead of thinking of the product as an object, when businesses think of customer solution then they will be able to move products much easier. It might even be much easier considering you will be addressing a problem that the target population is facing. If you decide to brand your company through brand design agency South Yarra, then you can make sure they use things like this in your branding through advertisement or posters.
Second P – Price: Second C – Customer Cost
When you are marketing a product, you need to make sure you know the price because your target population might vary depending on the price of the product. But, if you plan to be successful then you need to think in terms of the customer cost. If you plan to supply only the elite with a particular service in a competitive market, then it might be harder to get a steady clientele. But, if you think in terms of customer cost and widened the population that can access your product, there are more chances of you getting maintaining profits.
Third P – Place: Third C – Convenience
The place where your product is available is very important. If you decide to go and place your services in a not easily acceptable place and expect people to turn up, it is not possible to maintain your product in market. If you rather think of the convenience of the people and find area where people would gather or go to purchase, then your products will be more successful.
Fourth P – Promotion: Fourth C - Communication
If you want to attract customer’s attention to your product, then you should use promotions. It might be something simple like first hundred people to enter the code will win a contest or you can make use of any other simple ruse. You can ask them to subscribe to your mailing list for more promotions. But, there are not a lot of people who will the patience to go through the registration process. Therefore, it is much easier to think of establishing communication between the company and the customer. It might be through famous podcasts or celebrities.These are few important pointers in helping to establish a new business. It should be noted that the mixed model recently added a new p called people to look in to the interests of the people and make their experience much better. Apart from the above, there are several other factors that weigh in establishing a product in market like the economic status of the market, the rivalry in the field, already recognized brand names.... Read More