If you don’t engage in branding and marketing something significant will happen to your business—NOTHING!
Marketing is all about satisfying the needs of your customers. If you don’t satisfy your customer’s needs you don’t have a business because you don’t have sales.
The first question you must address is: “how are you different” from other products or services in the marketplace or as we like to say “what is your brand?”. What do people think of when they hear your brand? This unique description is what we in marketing call “brand position”. Brand-position is what separates you, from everyone else. Your brand position must communicate a benefit to your customer otherwise the position is meaningless.
Make a Plan!
After you have made a decision on your brand position, you will need a Marketing Plan. A good marketing plan addresses five essential components:
1. The product or service that you want to sell;
2. The price, how much are you going to charge for your product or service?;
3. The place, how is the product going to get your customer aka distribution;
4. The promotion, how are u going to get your target market to know about your product and service. And finally
5. The players, or others in the marketplace who are selling the same or similar products or services that you sell. Identify the competition.
The Marketing Plan then organizes these 5 points into a consistent instrument that will become a cornerstone in the blueprint for building your business. A good marketing plan is the foundation from which you will construct your empire!