* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Entrepreneurial Concepts
Product placement wikipedia , lookup
Social media marketing wikipedia , lookup
Consumer behaviour wikipedia , lookup
First-mover advantage wikipedia , lookup
Customer relationship management wikipedia , lookup
Visual merchandising wikipedia , lookup
Marketing research wikipedia , lookup
Service parts pricing wikipedia , lookup
Price discrimination wikipedia , lookup
Food marketing wikipedia , lookup
Perfect competition wikipedia , lookup
Neuromarketing wikipedia , lookup
Marketing communications wikipedia , lookup
Digital marketing wikipedia , lookup
Viral marketing wikipedia , lookup
Youth marketing wikipedia , lookup
Guerrilla marketing wikipedia , lookup
Target audience wikipedia , lookup
Product lifecycle wikipedia , lookup
Pricing strategies wikipedia , lookup
Predictive engineering analytics wikipedia , lookup
Multi-level marketing wikipedia , lookup
Marketing plan wikipedia , lookup
Market penetration wikipedia , lookup
Multicultural marketing wikipedia , lookup
Supermarket wikipedia , lookup
Direct marketing wikipedia , lookup
Integrated marketing communications wikipedia , lookup
Marketing mix modeling wikipedia , lookup
Street marketing wikipedia , lookup
Green marketing wikipedia , lookup
Advertising campaign wikipedia , lookup
Segmenting-targeting-positioning wikipedia , lookup
Target market wikipedia , lookup
Sales process engineering wikipedia , lookup
Global marketing wikipedia , lookup
Sensory branding wikipedia , lookup
Marketing strategy wikipedia , lookup
Services marketing wikipedia , lookup
Marketing Your Ideas and/or Products A History Hirestory Lesson – Hires Root Beer Webster’s definition of Marketing • “The act or process of selling or purchasing in a market; the process or technique of promoting, selling and distributing a product or service; an aggregate of functions involved in moving goods from the producer to the consumer.” Concise Definition of Marketing • The process of matching consumer needs with appropriate products or services. • Successful marketers give customers WHAT they want, WHEN they want it, WHERE they want it and at an AFFORDABLE PRICE. Marketing vs. Selling • MARKETING is not synonymous with SELLING – MARKETING meets the needs of the CUSTOMER. – SELLING meets the needs of the SELLER and is just one function of the overall marketing process. Market Niches • A focused, target-able portion of a market - a narrowly defined group of potential customers. – Addresses a need for a product or service that is not currently being addressed by another provider or where there is room for competition. • For instance, instead of offering cleaning services, a business might establish a niche market by specializing in blind cleaning services. Common mistakes when starting a business • Not carefully defining WHO the customers will be; if you develop niche business, your prospective customers will be a more specific group of people. • Not carefully planning HOW you are going to make your prospective customers want your product or service instead of someone else’s – creating a demand! Creating a Demand… Reasons we buy STUFF • • • • • • • • • Convenience Price Status Quality Perceived Need Fun Efficient (saves time) Appearance Others… Supply & Demand • Supply is the amount of a good or service available in the marketplace. • Demand is the amount of good or service the marketplace wants backed by the ability to pay. What Are Sales Tools? Good sales tools make good MARKETING!! Q: What do sales tools do? A: Sales tools give your customers information about your product or service. Sales tools let the customer know… • That your product or service exists. • Why they should choose your product or service instead of someone else’s Note: Sales tools should give this information in a way that will make customers want to buy from you. • Where they can get the product or service • How much the product or service will cost – (if your sales tool cannot say exactly what the cost will be, it should at least tell the customer where to get the information)