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Marketing Tools for Success--Getting Back to BasicsBy Melinda Salzer
Much of today’s business world focuses on technology and how it can help us be more profitable and productive. As a result, basic marketing principles tend to get overlooked. The most effective way to help you get back on track is to review your Marketing Basics-the foundation for business success. Marketing Basics refers to the 4 P’s-- Product, Price, Place & Promotion. It’s essential that all elements be in balance, because they all lead back to the same thing-Your Customers! Here are some questions you should be asking yourself. Product Are you offering any new products/services? Does your product/service need improvement? Do you offer any warrantees/guarantees? Price Is your price justifiable? Is it profitable? Are you priced competitively? Place Are your distribution channels effective? Are you adding locations? Are you selling on the Internet? Should you be? Promotion Do consumers know about your products/services? Is your advertising reaching your potential customers? Do your marketing materials need updating? When all 4 P’s are coordinated, your marketing and sales efforts will be more effective and you will create higher levels of success. Additionally, it’s important to review these aspects of your business on a yearly basis, which will help you maintain your competitive edge, keep your customers happy and ensure that your business stays on the right track. Melinda Salzer is Vice President and co-owner of Advanced Information Services, Inc., a software and marketing consulting firm. Melinda works with small and medium-sized businesses to help them achieve business growth and success through targeted marketing programs. She also conducts a series of workshops called “Speaking of Marketing”, which cover a wide range of marketing topics. Melinda is the founding President of the Central Jersey Chapter of the National Association of Women Business Owners and the winner of the 2005 Greater Media's Greater Women of Central Jersey Award--Business Category. She recently successfully completed her first triathlon. She can be reached at 732-617-1499. Please visit her websites at www.advinfoserv.com and www.speakingofmarketing.com.
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