You have established your business, now you have to think how customers will become aware of your brand. Exposure is definitely a complicated topic in entrepreneurship. However, hiring a marketing agency is out of the budget. You have to get hold of this knowledge quickly.
In marketing, it is not enough your customers only know your product but you have to communicate efficiently to influence their decision. You need to be familiar with “marketing mix” which has four principles – “price, product, promotion and place” or the 4Ps.
The Product
In developing your product, you have to consider what your consumers need. This is an important decision to make for your enterprise. Focus on its packaging and quality before you put it in the market. What you offer could fill the gap of customers’ needs or create a new niche. Remember your product must be designed and developed according to customers’ necessities. A customer questionnaire is also ideal to get insights for your product.
The Price
You have chosen your product, now you are to set the price. The price should be set according to what customers are eager to pay for the product. Customers want their money goes to something valuable. It should be an attractive number but still gives you enough profit and can compete with others.
The Promotion
Your marketing campaign should involve the information your customers need to know about your product. The information will affect the credibility of your brand. Exhibitions, promotions, public relations, sponsorship and advertising are some of the channels you can use to reach customers. You must choose a few where customers can see, hear and learn about your product that could influence their decision.
The Place
The final touch is where customer can get you product. You could sell them online, having a physical store or direct sales. Choose well as this is the place where your customers get your products.
In marketing mix, customers are always the center of your campaign. You always have to consider their behaviour, demand and necessities in developing your strategy.