Marketing: Be it a small business or a large corporation you need a good marketing strategy. There are many ways to market your business, the question is which ways are the most effective for your product or service? You can outline your marketing strategy with this popular saying, "Who, what, where, when, and how?" First you need to know your product, is it something that people will feel they really need, what purpose does it serve?
Who is your target audience? Two major components of your target audience are what age group and which gender will be most interested in your product. Depending on what product or services you are trying to market you also may be able to target specific groups such as certain professionals or interest groups "hobbies". What is it about your product that is better than any of your competitors?
Is it of better quality, does it have a longer warranty, does it cost less than the competition? You need to know what it is about your product that is better than the other ones around.
These are things you will want to tell your target audience about your product. An example might be if you are trying to market a fruit drink. You would want your audience to know that it is made with more or all-real fruit.
That there are more vitamin benefits to your drink. That it has a fruitier and more refreshing taste. These are things that are going to motivate potential customers to try it. I'm sure you have heard the first three rules of business and that is, location, location, location!
Product placement is an important aspect of marketing. Make your product accessible to your target audience. If you are a small business you want to place it somewhere that gets high traffic. Depending on what you are trying to sell you want to be where your customers will be. Locate yourself near a shopping plaza, hotels, restaurants or a main street that many people use to commute to and from work.
This is the "where" marketing question you should ask. When should you advertise your product? If you are using the media such as television or radio ads, this is a question to ask. When does your target audience generally watch television. If you are targeting men, a good time to place your ad is during sports programming.
Is it something children will want, then air it during cartoon programming. If you are using radio advertisement and are targeting any adult then try during rush hours, times when people are going to and from their jobs. Marketing your product at the right time is highly important.
No matter where you are marketing your product your audience needs to know how to get it. Do they have to go to a location to buy it? Can they order online or over the phone?
How easy is it to pay for? Is it an expensive product, but very beneficial? Can it be paid for in installments? These are also marketing questions you should ask. If you want to be successful at selling your product you need to know what marketing steps to take.