A Guide to Small Business Marketing Strategies
Small business marketing strategies arise from decisions made about the promotion of services and products to the targeted customers. Launching of new products and boosting sales are some of the reasons why companies use small business marketing strategies to make profits. Part of the strategies involve the construction and implementation of a marketing mix. Also known as the five Ps, the marketing mix refers to product, price, promotion, packaging and place. The place marketing strategy includes selling items in a physical store or an online store. Choosing a distribution channel is also part of this strategy. Because customers get products through distribution, it is advisable for a business to select a distribution strategy that suits it best.
Promotion strategies from www.themarketingdivision.com.au involve holding sweepstakes and prize drawing to not only create awareness but also attract new customers. Advertising is one of the different strategies that can be involved in promotion. A business can make flyers and banners that inform its customers of its offerings such as free giveaways. Advertisements can be placed in print or social media as a marketing strategy that will attract more customers to the business. Many businesses tend to overlook packaging as a marketing strategy. To most, it is just a mere detail. However, studies show that the appearance and the content of the packaging plays a major role in influencing customers to purchase a product. This is because consumers always select those products whose appearance is not only appealing but appears to be beneficial to their needs.
When selling a commodity; pricing is a very important factor. Pricing decisions are very important small business marketing strategies because consumers tend to consider price when buying commodities. Businesses should have price points that represent their consumer's value. If the price of similar products from competitors is lower, consumers might choose those products. Using advertising strategies to back up pricing is an advised step for businesses to take. Businesses can use certain words to advertise products that are high in quality. These are such as "top of the line" and "premium", which warrant the price of the products. Read http://de.wikipedia.org/wiki/Online-Marketing to find out more about marketing.
It is important that a product be presented to consumers effectively. It is important that all areas of the marketing mix work together. This makes sure that there is creation of a brand that not only attracts the market but also delivers in terms of sales. A product can be differentiated from competition with the help of branding. Packaging and creating a catchy advertising message is part of branding. Before making small business marketing strategies, businesses should make sure that their plans include their goals and budget. This ensures that businesses have the chance of developing small business marketing strategies that will work well for them. Study Diploma of Marketing Online here.
