Marketing is marketing whether it is online or offline. Marketing skill is easily acquired. First of all, you need to recognize the fact, that you need it. Secondly, begin to acquire materials toward it.
Internet Marketing is the process of reaching a prospect, getting them to pay attention to your offer, and ultimately buy from you through the Internet.
There are three (3) steps involved
1. Reaching out the prospect
2. Getting the prospect to pay attention to your offer
3. Purchase from you.
Let us proceed to look at some marketing wisdom.
WISDOM *1
“Without marketing, there could be no sales and without sales, there is no business”
WISDOM * 2
“Without a quality product, marketing is doomed to fail”
WISDOM * 3
“Never sell anything you have not used”
WISDOM * 4
It is okay to satisfy a need but make sure what you are selling is something you prospect want!
A proper understanding of these wisdom tips, will give every info premier an edge over other colleagues.
Next, let us examine the five (5) components of a good product.
1. It must satisfy a need (That need must be a want)
2. It must be offered at a customer friendly price.
3. It must be readily available
4. It must be of a high quality and of a high-perceived value
5. It must be easy to use
In creating a product for marketing one need to study human behavior ray closely, especially their desire.
The question you will then ask yourself is this: What do human beings desire?
1. They desire to sore time (fast food secret)
2. They desire to sore money (satchel product secret)
3. They desire to live longer
4. They desire to look beautiful
Products and Services have been created in the above five (5) desires of human beings.
EFFECTIVE TOOLS FOR INTERNET MARKETING
1. Advertising
2. Email
3. Promotions
4. Public relations
5. Press Release
6. Word-of-mouth
COMPETITION
What does Competition mean in the Market place?
To compete is to ………engage in a RIVALRY with another.
If you don’t have enough shares in the market, you cannot survive. As an Internet Marketer, you must recognize your would be or existing competitors.
Note: Everyone satisfy the same needs of your customers is your competitor… Hence there is (a) Direct and (b) Indirect Competitor
DIRECT COMPETITOR
Offering the same product or Service to your customer.
INDIRECT COMPETITOR
He is offering your customers something different that satisfies the same need.
One important area every prospective Marketer must note, is the difference between attacking and defensive tactics.
ATTACKING TACTICS
This method involves you taking the battle to the perceived enemy.
DEFFENSIVE TACTICS
Under this method, you wait to be attacked and then you retaliate
There is also the No defense no attack policy.
Marketing battle rages on, you must leverage the power of superior packaging or product design.
Take advantage of the mysterious power of repositioning to floor your copy-titors.
The most important single determinant of success is your area of competitive advantage. It is more important than all other factors. It determines the rise or fall of your business, your level of profitability, your position in the Market place, and everything else you accomplish. Your competitive advantage must be crystal clear to you and to everyone in your company, as well as to your prospective customers. Lack of clear competitive advantage leads quickly to diminished sales, loss of market ultimately, business failure.
THREE AREA OF DIFFERENTIATION
To succeed in a tough market, what you sell must be superior to your competitor’s offerings in at least three ways. It must be BETTER, FASTER, CHEAPER, AND EASIER to use in some way that makes it more attractive than rival product or services. It must be better in at least three areas. One of your key jobs in strategic thinking to identify the three areas in which you are better and then to emphasis those areas of superiority in all of your marketing and sales work. Three potential Area of Superiority
1. Operational excellence. A Company with this competitive advantage able to run its business so effectively and need that it can produce and sell its Products and Services at lower prices than its competitor.
The Company can then pass on the cost savings to its customers in the form of lower prices or keep the savings in the form of high profit or both.
2. Use of Innovative technology: One can achieve competitive advantage and hence produce high quality Products &Services through the use of Innovative technology.
Companies like Mercedes and Sony fall into this category. Customers are willing to pay a premium for a brand name that represents high quality and cutting edge technology.
3. Be close to the customer
This requires that you invest the time to develop high quality relationships based on “customer intimacy” customers will pay more and remain loyal longer to Companies that seem to know and understand them better than others. Providers of specialized Services such as consulting firms, law firms, accounting firms and telecommunications firms fall into this category.
What could you do to demonstrate to your customers that you really care about them and their interest
This strategy can offer a breakthrough opportunity, especially in the sale of expensive Products and Services where resale’s and referrals are possible.
PICK YOUR TARGET
To lead your field and achieve higher levels of profitability, you have to be outstanding in one of these three are and very good in the other two. One of the most important decisions you make is to choose your area of competitive advantage and then dedicate your Company to achieving it.
A competitive advantage has two qualities first; it is something you offer that your competitive do not offer to the same degree. It is clear that you have an advantage in that area. Second, a competitive advantage is something that customers recognize, appreciate, and are wiling to pay a premium to enjoy.
In every case, it is the customer who decides if your competitive advantage is important to him or her.
THE KEYS TO SUCCESS
Every Products or Services, in order to survive in a competitive market, must have an area of superiority, and a unique selling proposition. You should always be prepare to answer the customer primary question: “Give me one reason why I should buy from you rather than someone else! Whatever your answer is to the question, you should build all your marketing and sales efforts around it. Your answer is the key to business success.
As on up-coming marketer, your most valuable asset is “how you are known to your customers, your reputation in the market” your reputation is a value that people will pay for.
To win customers for life, it is advisable that you treat your customer exceeding well that they talk about you constantly (Exceptional customer delivery) erect solid entry barriers around your business model.
Note; you can’t prevent anyone from closing to do the same type of business with you. But you can slow them down or discourage them completely.
SOME NO GO AREAS
* Don’t compete on PRICE
* Don’t go head-to-head with an established competitor
* Don’t go Staff Poaching
Friday, September 26, 2008
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