Understanding The Basic Principles Of Marketing

Principles of marketingAccording to the Chartered Institute Of Marketing, the basic principles of marketing can be summed up as follows:-

 

… identifying, anticipating and satisfying customer requirements profitably.”

 

Almost every product or service sold in the world today – whether on-line or off-line – is bound by these principals of marketing.  Even people who are in the public eye all of the time have to find a way to market themselves.  This is why it’s important for any new business or service provider to understand the principals of marketing.  You cannot simply make your information available and expect people to come flocking to your product.  There are subtle things that you must accomplish in order to get your business marketed properly.

 

For example, one of the main ideas behind any marketing campaign is actually not how to push a product onto people but, rather, what is the social responsibility behind the product or service?  When people buy something, they want to know that they are buying into the greater good.  Telling people who are looking at your product that their support for your company will somehow affect more than just their pocket book leaves them with a good feeling.  Customers who experience a good feeling with a business are almost sure to return.

 

Another important aspect of the principals of marketing is known as target marketing.  This is the most important aspect of marketing.  It’s not enough to merely advertise in as many places as you can, for as long as you have money, and hope that enough people will notice. 

 

For example, people who watch the Super Bowl are generally men and women who are interested in sporting activities.  Therefore, placing a commercial for a doggy day care centre during this time slot wouldn’t be worth your while, no matter how much exposure you got, because it would have missed your target audience.

 

The audiences you should be aiming at for this kind of service is probably watching the puppy bowl on the Animal Planet channel.  So while you wouldn’t have as many people seeing your ad, you would have more people who were interested in your business learning about it through the commercial.  Chances are that if they are watching this cuddly puppy-filled playtime, they have dogs of their own or are thinking of getting a dog.  Your day care idea might appeal to them more so than the average sports fan watching the real Super Bowl.

 

You also need to consider the types of marketing distribution you are doing and how that matches up with your business.  If you offer a service like the doggy day care centre, then advertising it in the next state would not do you any good because no one is going to drive that far to drop their dog off to board. 

 

Remember, according to the basic principals of marketing, you should only spend your time, energy and money on ways of reaching prospects within your area of service or expertise. Your marketing efforts need to be concentrated where they will be the most effective for your company, and once you do that, you’ll be sure to see results. 

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