Are you overlooking these beginner marketing concepts?

People often assume that they understand the basics of marketing and do not need to review them. However, this is often not the case, and a refresher on the basics can be very helpful.

The 4ps of marketing are product, price, promotion, and place. They are also known as the marketing mix. The 4ps were first introduced by E. Jerome McCarthy in 1960.

Frank Oct 2022

a product showcase

Product / Service

Doing research on the needs of the people in your country will help you understand your target market better.

Considerations like as age, gender, income, and level of education are useful in determining the type of product or service that will be most appealing to your target market.

Look at trends as another way to find out what your target market wants. What interests people in your country? What do they want to buy? What do they have to say?

One way to see what people in your country are interested in and talking about is to use social media platforms such as Twitter, Facebook, and Instagram. You can also use Google Trends to see what people are searching for on the internet.

Once you have a good understanding of the needs of your target market, you can start to tailor your products and services to meet those needs. This will help you attract more customers and grow your business.

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  • Look at current trends and see what is popular. Trendspottr and Google Trends are good tools for that.
  • Look at what your competitors are offering
  • Look at what successful businesses in other countries are doing and copy them if your market is similar.
  • Talk to potential customers and find out what they think. Find out what products or services they wish were available but aren't.
  • Make use of tools and methods for market research. Semrush, Google Trends, and other keyword research tools can be used to find out what products or services are popular.

Pricing

If you price your product too low, you may not make enough profit to sustain your business.
Additionally, customers may perceive your product as being of lower quality if it is priced too low

a vault with money in it

To price a service or product, you will need to consider the cost of materials, the cost of labor, and any other associated costs. You will also need to factor in a profit margin to ensure that your business is profitable.

It is important to consider your target market and your position in the market when you are setting your price. You should also consider your competition and what they are charging.

3 Main Ways to Set Prices

  • Cost-based pricing is used as a starting point for many businesses to determine a price floor, which is the lowest price a company can charge for its goods or services without incurring a loss.
  • Value-based pricing takes into account the customer's perceived worth of the product or service and sets a price based on that worth.
  • Competitive pricing is the process of setting the price of a product or service based on the prices of similar products or services. This process can be used to price products or services in a wide variety of industries. In many cases, businesses will use competitive pricing in order to gain market share or increase profits. In other cases, businesses may use competitive pricing in order to meet the needs of their customers.

Promoting

There are many ways to promote a product or service. Some traditional methods include:

  1. 1. Create a brand ambassador or influencer program
  2. 2. Give away free samples or promotional items
  3. 3. Organize a contest or sweepstakes
  4. 4. Sponsor an event or causes
  5. 5. Use technology to reach consumers

However, this blog post is about using technology to reach consumers. Let's go over the main ones:

A sign with Sale on it

Social media marketing

Promoting a product or service online includes creating a strong social media presence, this involves building a profile, communicating with other users, and promoting content.

Choose an easy-to-remember handle or username for your social network presence. Your profile image and cover photo should be brand-consistent.
Respect and professionalism are key on social media. Promoting relevant, entertaining information is also vital

Paid marketing

Developing targeted marketing campaigns on social media platforms can be very effective if you know your target audience well.
This is because these social media platforms allow you to target specific audience using location, age, gender, etc.

Additionally, it is important to track and analyze online data to continually optimize and improve online promotion efforts.

Content creation

Creating informative and engaging content can be a fantastic way to promote your business.
Having a blog or a YouTube channel that intelligently links back to your company is one method to do this.

Last but not least, is SEO. "SEO" is short for “search engine optimization."
SEO is a way to make your website show up higher in search engine results. This is important because it means that more people will see your website when they are looking for something online.

Briefly, here are some SEO basics:

  1. 1. Keyword Research: Finding the right keywords to target for your website.
  2. 2. On-Page Optimization: Optimizing your website's pages for the keywords you're targeting.
  3. 3. Link Building: Getting other websites to link to your website.
  4. 4. Tracking and Analyzing: Tracking your SEO progress and analyzing your results.

The most important thing is to be creative and think outside the box. Sometimes the best way to promote something is to use a combination of methods.

Learn more about our SEO services
A food truck at a sports event

Location, Location, Location

When it comes to marketing a product or service, location is just as important as the product or service itself. In today's digital world, eCommerce has become the norm, and customers expect to be able to purchase products and services online.

If a company does not have an online presence, they are at a disadvantage. In addition to having an online presence, it is important to make sure that the product or service is easy to find and purchase.

Customers should be able to find the product or service with a simple Google search, and the purchasing process should be straightforward. If a customer has to jump through hoops to find and purchase a product or service, they are likely to give up and look elsewhere.

Place is important in digital marketing because it allows businesses to target consumers in a specific geographic area. By targeting consumers in a specific geographic area, businesses can more effectively reach their target market and improve their chances of making a sale. Additionally, targeting consumers in a specific geographic area can help businesses save money on marketing costs.

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  • Figure out who you are targeting and what platforms they use. Run your ads there.
  • To spend less money on ads. You can only show your ads in a certain area where you think or know your target audience is.
  • Make your products easy to find on Google, Bing, and other major search engines. In other words, do SEO!
  • Make the switch to digital marketing today. That's where everyone is!