Under The Iceberg
As much as AW wants to run the marketing race with big and small businesses and show the world who we are and what we have to offer, AW has to first understand what the 7 P's are. Once understood the CEO Board must decide if our organization has the ability to meet those standards. If we do, how will we go about funding it? If we don't, do we accept that we cannot do it and seek avenues of finical support and hire people with the intellect and skills to do it for us? It is a fine line, one that the CEO Board will eventually haven no choice but to cross.
1. Product
The service or product a company, business organization sells should be the center focus of their element. Unlike our rivals, AW does not sell physical products of any kind or digital products of any kind. But if you are a entity that sell physical or digital products you should think about answering the why. Why should people want your products over someone else they already are invested with and trust? Why should they trust you with their money and time? Once you answer the why, move on to the marketing phase. You have a product so how do you want to go about showcasing it? Ads? Blogs? A informative article? Either method you decide on it is to help people and potential investors understand who you are, what you have to offer and help build organic support for your niche.
2. Price
A business, no matter how big or small must decide pricing of their product based on what customers are prepared to pay. Note, not all business owners do this, but many do. One way you could do this is presenting an offer. A offer can be subscription, membership and discount benefits. Another avenue to advertise the pricing of your product would be setting up a email campaign. Email campaigns can be time consuming, but they're ideal for sending quick notices about the sale of your product.
3. Promotion
Marketing requires mental focus and the ability to come up with constructive strategies that include most if not all of the promotional activities for the marketing mix. If you are a physical entity and have a store location you would use ads, in-store advertisement such as posters, stickers, a store mascot or employee passing out flyers or signs posted throughout the store indicating what is on sale or whatever it is you wish to market to your customer. In this modern generation we live in digital promotion is a huge beacon for success. Email campaign promotion, offline and online events, social media livestreams and taking your promotion to social media platforms is very popular right now. With digital promotion alone, you have so many more opportunities to market your product and services. Some examples of digital marketing are online events, official band groups designed to connect with the public and hosting events via livestreams.
4. Place
Where and how a product is displayed and sold should be founded on two important steps. A, your personal preferences and B, your customer. Do you like physical products and promoting the products in a store? Or does your customer like digital products and prefer online interaction? Don't make the mistake of sacrificing one over the other. Combine both approaches and do what is most effective for you and your business. Understanding the atmosphere aka place of your own preferences as well as your customer's preferences will help your business grow over time. Knowing exactly where to start a sale, whether it be online or offline and knowing if you need to follow your instincts or cater to the whims of a customer will give you more insight as to how to market your product.
5. People
Excellent customer service is a must in marketing mix and will make customers feel safe, welcome and like they are being heard. Friendly customer service is known to keep a person coming back. You want this because when someone is impressed with how they were treated, they are more likely to talk highly of y our business and tell a friend or family member about their experience. This is known as a referral. Referrals can be orally given or written in a review that is posted to your business website or other referral hotspots like Google Reviews, Apple's App Store and other known referral services. Having positive feedback from customers who are impressed with your customer service and your products is 100% good for your marketing process. If you are a employer, make sure you take time to train your employees and anyone else who is professionally representing your brand and basic knowledge of common trouble shooting issues customers run into so you can build a positive reputation and trust with your base.
6. Process
The marketing mix process has different kinds of processes that businesses can use to market their products successful and their sales better. These processes are known as the:
Electronic Processes
Technological Processes
Direct Activities
Indirect Activities
Delivering a final, completed product to a customer/consumer is the goal and that delivery must be reliant, have good quality so the customer leaves happy and satisfied. If your final product is low quality and you don't apply any of the process methods mentioned above, do not be surprised if you loose customers or your sales suffer.
7. Physical Evidence
This should be obvious. Providing someone and that means anyone in the community or anyone on line who asks you for physical evidence, must be given to them. There are a few ways you can do that. You can show people your legal binding documentation, such as a FEIN, business card or a receipt. If you want someone to take your offline or online business seriously be ready and willing to prove the business's reputation and existence with physical documentation of some kind. Usually for offline businesses, there are legal certificates that business owners will post in the offices or outside of their offices where people can see them. Usually for online business, there must be backlinks on the website or a page that shows proper documentation of the online business and its existence.
Blog post written by Anointed Works
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