Marketing and Advertising Basics

In Marketing you must know your target. There are 3 main issues with Marketing and they are target marketing, purchasing target and communication target. Marketing and advertising are two very different mediums and this is perhaps why a lot of retailers fail in the first year of operation.

Targeting your market is a key element to selling your products or services. Finding out which group you want to sell to and finding out if they have an interest in what you have to offer. When you are targeting your market you must take into consideration where you live, income levels and age levels. For example, if you were selling life insurance and wanted to open a company in a heavily populated age range of 60-85, with income levels of retired from middle to lower income; you might find that most of your ‘target’ audience already has life insurance. You would have to offer incentives for them to move to your insurance company. There are also the purchasing agents that are the businesses surrounding your target market that would need your product or service and can afford to purchase it.

Your communication target is the different methods and styles that you communicate your service you want to sell. This could be done formally or informally. You could send out a mass email to a targeted mailing list within your area. You could go business to business handing out flyers; this is also a good way of meeting your fellow businesses and them getting to know you. You could also have a meet & greet. This would be a little more costly but if you have the budget to do so, you could rent out a conference room in a hotel and advertise specials if they sign up that night. Each part is important to building your business. Getting to know your target market and basing your marketing and advertising on these factors could ensure your business thrives.

Advertising your business is one component of the marketing process. You have to get the word out that your business is in the area and how you advertise could mean the difference between making money and thriving or losing business. Advertising will be a financial boost into your company but one that will enhance its productivity in the long run. There are many mediums in which you can advertise your business or service. You can place an ad in the local newspaper; contact the phone directory and create an ad; radio advertising is also useful, as many radio stations will plug your business for free. You have to do your research.

In order for a Marketing plan to succeed, you must spend some time researching your area. In order for advertising to succeed you must create a type of advertising that will grab a consumer’s attention at first glance. If you are using the Internet as your advertising source, you can also create your own website. Marketing and Advertising work together collectively in order to get the word out about your business or service you will be providing. In order to succeed, do your research. Spending time finding out what is needed in your area will help to ensure your business’ success.