2 Crucial Marketing Concepts That Determine Your Success
Last time we look at an introduction to marketing so today we’ll pick it up from there and look at the two crucial marketing concepts that will always determine whether you’ll succeed or fail in your business endeavors be they internet oriented or not.
I know there are quite a number of marketing concepts online and because it can be a bit confusing when deciding which pair marketing concepts you should go with, let me take this opportunity and clarify that a good and effective marketing concept ought to:
Give special considerations to the needs, special desires and wishes of present and prospective customers
NB: You can think of the above as the characteristics of effective marketing concepts
Let’s now look at which the 2 crucial marketing concepts are:
2 Crucial Marketing Concepts That Will Always Determine Your Success In Business
Marketing Concepts #1: Identification Of Customers
The first marketing concept involves doing some research to identify the characteristics of your customers and this might include:
- Who they are
- Their main demand(s)
- Their age brackets
- Their interests
- Their purchasing power
It’s important to get to know who your customers are so that you can be in a position to better meet their needs. Remember that you can’t fight a battle whose enemy you don’t know, it’s like boxing the air.
Marketing Concepts #2: Satisfying Your Customers Needs
The other crucial marketing concept involves satisfying the needs of your customers and I must say that this is what separates the “boys from them men” in business.
It makes no sense to get the first marketing concept right only to mess up the latter one. So long as you don’t satisfy the needs of your customers, then it doesn’t matter how well you know your customers, nobody will buy anything from you!
You therefore ought to make sure that you offer your customers the highest possible level of service or product as this will increase their lifetime as your customer and eventually increase your profits.
Last Word On The Above Crucial Marketing Concepts
In addition to the above marketing concepts, you always need to remember that the customers are the boss and they can fire you by spending their money elsewhere.
On the other hand, they can hire you by continually spending their money in your business and encouraging their family and friends to also do the same.
Remember that you’ve got only two options when operating a business irrespective of its nature:
- Offer quality service or products at a reasonable price-This guarantees you of a long term shareholding in the market.
- Offer mediocre service or products at whichever price-This guarantees you no shareholding in the market.
As always, feel free to share what your thoughts are on the above marketing concepts; I’d certainly love to hear from you!