Marketing your Business

August 14th, 2009 Posted in Marketing Principles

To most businesses the word marketing often conjures up expensive advertising utilising TV, Radio or News Papers or the need to reduce the price of your goods or services and stick a sign in the window with the words “SALE” to get noticed.  Of course neither option is inviting because one costs lots money and the other loses lots money and for that reason many businesses overlook this extremely important part of the business.

I have to agree that marketing your business is a fairly big job and can take up lots of time but like any major process it can be broken down into sizable pieces that will be manageable especially for the small business where the owners work in and on the business.

In my experience I have broken the marketing part of my business into 5 areas called the 5 P’s; Product, Place, Price, Promotion and People and I have also used this method to significantly improve sales in Retail Stores and to develop key relationships with my dealers in the days when I was an Account Manager.

Over the next 5 weeks I will talk about each of these topics in more detail and give you pointers in how they can influence how you run your business as well as how you position your business in your chosen industry.

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