Four Basic Marketing Tools Business owners Needs To Employ

Every business owner has the greatest priority of seeing his business grow. When a business retains it normal state after many years of establishment without making visible progress,there is every need for the business owner to take up another line of business or take up a check on the business.



Most businesses has crashed as a result of poor marketing tactics and the inability to Identify their level/ status in the consumer market. No matter how small or big the business you are entering into is,the need for proper marketing tools cannot be overemphasized.

How would people know what you do?

How do you attract you consumers?

There are four major marketing tools which I will discussed below.

MAJOR MARKETING TOOLS

» Place

»Product

» Price

» Promotion

PLACE

Plant location is one vital aspect of business where most business investors are making a hell of mistake. You need to understand that not everywhere suits our business. If you must effectively market your business,there is every need to always plant it where it is needed.

Consumers these days often finds it difficult to walk too long to get a product and and as a result opt-in for a close substitute while you are there with your goods or services loosing its value. It will be rather uncalled for to set up an umbrella wholesale firm in an environment where there are little or no cloth retail outlet.
So where you set up your business realy matters as it determines the amount of patronage you will get.

PRODUCT

This is also an important marketing tool,in fact the most important. The major reason why dangotes products keeps dominating the market is because they meet the satisfaction of the consumer. Any service or goods that you will offer to the market must be able to meet the main purpose of its purchase and through this,it markets itself.

Away from the ability to satisfy the consumers,it must be well packaged. It is very funny to know that people often get attracted by the outward appearance of what they see in most cases neglecting the content. You must be able to package your goods well and if its services,thesame game is to be played.

PRICE

The fact that most people shy away from good or services offered at high prices shouldn’t be a thung of surprise.

Consumers tend to go for cheaper products and it is in most cases a platform for firms to gain the consumers trust. If you must dominate the market,you must make sure that the price of your goods or services does not exceed the value or quality of the goods or services excessively.

PROMOTION

Promotion refers to raising customer awareness of a product or brand, generating sales, and creating brand loyalty.

Promoters have used newspapers, special events, endorsements, Promotions can be held in physical environments at special events such as concerts,festivals, trade shows, and in the field,such as ingrocery or department stores.

Interactions in the field allow immediate purchases. The purchase of a product can be incentive with discounts (i.e., coupons), free items, or a contest. This method is used to increase the sales of a given product.

Nurturing a business to the highest climax is not a problem but there are certain principles to be adhered to and patience should be held along side.

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