Small Business Marketing
What It Means to Market
Written by Thomas Tran for Gaebler Ventures
If you're an entrepreneur looking to identify the steps to start marketing your business, you've come to the right place. Marketing development is an important tool to help sell your product or service.
As an entrepreneur, you will go through a series of steps to build the foundation of your business.
Although there are many preliminary steps to starting a business, one of the more important processes is marketing development. Marketing is an important tool to utilize in the business industry because it enhances the ability to sell your product to the public.
What is Marketing?
Marketing is everything to a small business. A marketer is an integrator, or a person who takes products made internally by the company and promotes them to potential customers externally.
The purpose of a marketer is to serve a customer's needs by communicating and advertising the company's product to the public. In this process, the primary purpose of a marketer is not to sell, but to develop relationships.
Defining and maintaining consistent relationships is a key aspect to any business because it allows for networking. Networking serves as a powerful tool to release your company name to the public. Creating connections with top industry leaders allows you to use some of their expertise to help sell your product, which is ultimately the key to business industry success.
To market most effectively, you should follow three steps: create value, communicate value, and deliver value.
When creating value, you must consider the type and price of the product or service you want to offer.
During this stage of the marketing process, it is your responsibility to develop a product that will provide value to your potential customers. To determine the value of your product, you must evaluate the product demand and physical location in which it will be sold. Price is an especially important factor to consider because it contributes to the value of your product or service.
Marketers are essential in this step because they are the individuals who connect the products to the customers. They serve to develop relationships that will help the company prosper.
By knowing the customers, marketers are able to negotiate deals to enhance the value of the product. In this regard, entrepreneurs must pay special attention when choosing their marketing team, as they are pivotal in the company's success.
Once the deal has been sealed, this part of the process should be one of the easiest tasks to complete. Customers expect quality products in a timely fashion, and it is up to you to deliver.
If you want to establish strong loyalty, the consumers must have faith you will provide a reliable good or service each time they visit your company.
Thomas Tran is a student with the School of Hotel Administration at Cornell University. He has acquired an appreciation for entrepreneurs inside and outside the hotel industry, and hopes to share his experiences.
Share this article
Additional Resources for Entrepreneurs