Truth That Can not Be Ignored, That Half Of New Business Fail During The First Year.
According To The Small Business Association (SBA), This Isn’t Necessarily True, The SBA States That Only 30 % Of New Businesses Fail During The First Two Years Of Being Open, 50 % During The First Five Years And 66 % During The First 10 Years.
The SBA goes On To State That Only 25 % Make It To 15 Years Or More.
There Is Much Reason That Business Fails, Such As Not Right Planning, Funding, Flexibility, Taking Initiative, Focus, Proper Guidance Etc…
And There One Biggest Reason That Business Fails Is Marketing (Advertising, Promotion) Of Service And Brand, Personal Face Value, Personal Branding, Etc….
And Most Of The Successful Business Focus On Marketing, Marketing Play Most Effective For Running Successfully.
So Now let’s Learn About Marketing
WHAT IS MARKETING?
1) Marketing is the Process Of Create Awareness Of Your Products Or Service In Consumer Mind.
2) Its Strategy To Understand The Consumer Needs And Fulfill It.
3) Marketing Industry Is Much Bigger and Broader Than Promotion, Selling, Service, Advertisement And Communicate With The Customer.
4) Marketing Is The Key Process To Build Your Empire In Customer’s Mind.
5) It Is An Action Taken To Bring Attention From Your Targeted Audience Towards Your Services And Your Business. (It Can Be Promotion Of Your Self, Your Products (Physical Or Services) Offered By You.)
Here Is A Question For You?
ARE YOU PROMOTING YOUR SELF?
Pls Comment Your Answer Below In The Comment Box
It Doesn’t Matter In Which Field You are Belongs.
Whether It Is Job, Business, Retailer, Self Employee, Street Vendor, Unemployed, Student, House Wife, Girls Or Boys, Younger or Older.
Why I am Asking This Because In this Competitive World You must Have to be Update And Upgrade.
In Current Scenario If you heard Word “MARKETING” Than A Simple Things Come in Your Mind That Selling Of Products or Services.
AM I RIGHT?
Because It Is Very Wide And Big Industry. It Is Estimated That Advertising Spending Wolrdwide Crossed 560 Billion USDollars in 2019.
Building Your Brand Is Crucial Part Of Building Your Business. But More Crucial Part Is To Keep Your Brand Consistently On Top Position In The Market.
Also, Lead Generation, Choosing Right Audience, Market Research, And Competition With Other Brand.
Now Just Imagine For Few Second,
That You Have A Great Product, Services And Price Also, But People Don’t Know About Your Product Or Services.
So You Must Be Required Awareness Of Your Product, Services To The Consumer.
For That, You Must Require Promotion, Advertisement And Marketing Strategy.
ACCORDING TO business.gov.au
Without Customers, Your Business Would Not Survive. To Attract And Retain Customer, Your Business Needs To Understand The Value Of Marketing.
People Are Unlikely To Simply Walk Into Your Business. And Buy Something From You, If They Don’t Know Who You Are. What You Are Selling And Why They Should Choose You Over The Competitor.
Many Small Businesses Don’t Place Enough Importance On Marketing. They Often See It As Something That Requires A Lot Of Money And Fancy Advertising Campaigns.
IT IS MUCH MORE THAN ADVERTISING AND SALES
1) To Understand Whats Your Customer Needs From You.
2) To Understand How Your Competitor Meets The Needs OF Target Customer.
3.) How Can You Help Your Target Customer?. You Must Have To Understand Why Your Product Or Service Is Better Than, Or Different From The Competition.
You’ve Probably Already Considered Some Of These Questions When Preparing Your Business Plan. But Many Businesses Don’t Realize That These Questions Are Also Marketing Fundamentals.
So, If You’ve Already Addressed These Critical Points, You Have Made The First Steps In Building A Successful Business And Brand.
In The 1960s, E Jerome McCarthy Came Up WIth 4P Of Marketing.
If You Like My Post Pls Share, And Comment Below.
BY PROFESSION AN ELECTRICAL ENGINEER, AS OF NOW WORKING AS STOCK MARKET TRADER/INVESTOR/CONSULTANT AND ALSO NETWORKER.