Business Marketing Advice
Marketing a Research and Development Engineers Business
Looking for innovative ways to market a research and development engineers business? Although you there are no magic bullets that will enable you to dominate the industry, there are several things you can do to improve visibility and market presence.
There are no shortcuts to success in marketing a research and development engineers business. In this industry, the application of fundamental marketing tactics is more valuable than promotional fads and gimmicks.
Customer loyalty isn't what it used to be. Cash is king in today's marketplace, so your marketing plan needs to focus on value messages.
Competitive Awareness
Competitive awareness is the starting point for creativity in marketing. There's nothing wrong with creativity, but if it precludes your messaging from being represented alongside other research and development engineers businesses, there's a good chance that you're missing something. At a minimum, we recommend seeking a third-party perspective before you adopt any innovations that dramatically alter your marketing model.
Loss Leaders
The majority of research and development engineers businesses understand that more customers will walk through the door if a few products are priced at less than full retail value. Although you may lose money on one product, you can make up for it buy selling a higher volume of other products. A classic mistake of loss leader marketing is to create pricing without researching the competition. In a worse case scenario, you could be counting on pricing that is higher than your competitors. For the majority of research and development engineers businesses, the real benefits of loss leaders emerge through the careful marketing of other products, usually offered at a much higher margin. Whenever possible, piggyback a loss leader approach with the purchase of bulk merchandise that can be bought at a discount.
Promotional Calendars
Sloppy marketing programs have no place in growing research and development engineers businesses. Promotional or marketing calendars coordinate the execution of your strategy and result in a more efficient use of both internal and external resources. When used in tandem with a quality mailing list provider, promotional calendars can ensure the continuous execution of direct mail campaigns.
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