A Study of Marketing Basics Using King Solomon's Principles
Bobby Keating
When we ponder the world of marketing, we will discover that there are several concepts and misconceptions that need to be addresses. The basic definition of marketing describes the various tasks that determine your continuing efforts to meet the needs of your customers and, of course, that you are getting a valuable return for your efforts. One consistent misconceptions of marketing is that marketing only concerns your advertising your product or service. Though marketing your product is a serious consideration, it is only one component in the marketing process.
We can define the essence of marketing as 'understanding your customers' needs and developing a plan that addresses those needs.' By understanding marketing in this way, a business owner who has a desire to 'grow' his business can set the proper goals.
What is meant by 'organic growth?' This is a wonderful concept. Your business is a living organism and, as a living organism, it must be cultivated and nurtured. We can ignore its needs and let it fend for itself or we can determine those needs and do whatever is best to make it thrive.
We should look at two basic components of marketing in order to get a better idea of the things that we need to create a successful business. The first component of marketing that we need to consider is 'developing a marketing plan.' The second component is the 'ongoing promotion.' One mistake that many business owners make is to create a product or service and immediately jump into an advertising campaign. When we define these two basic components, you'll understand why this mistake can be a disappointing and costly one.
When we develop a 'marketing plan' or 'marketing strategy', we create a guide that is necessary for the well being of a business. The first consideration in creating a marketing plan is research and analysis. This is not as difficult as it may seem. It may take a little time but it will be well worth the effort.
To help us get started, let's begin by looking at a simplified explanation of 'marketing analysis.' We should apply two of Solomon's Keys to Success at this point.
Proverbs 1:5 (Amplified Bible) "The wise also will hear and increase in learning, and the person of understanding will acquire skill and attain to sound counsel [so that he may be able to steer his course rightly]" Wise counsel can be found in many forms. We should also remember, for those of us who think we understand better than others, "The way of a fool is right in his own eyes, but he who listens to counsel is wise." Proverbs 12:15 (Amplified Bible)
A well built marketing analysis involves the following:
1.) Determining our 'market' or the groups of potential clients that exist,
2.) Determining our 'target market' or which groups of customers that we prefer to serve,
3.) Determine the needs that they have,
4.) Choosing the best products or services that might meet the needs of our target market,
5.) Determine the customers' possible uses for those products and services,
6.) Learning what our competitors are doing,
7.) Determining the pricing structure that we should use and
8.) Decide on a plan for the distribution products and services to your target markets.
There are a number of researching your target market that can be used to discover information about markets, target markets and their needs, as well as the actions that your competitors are trying, etc. The Internet has given us a great instrument for this type of research. A little refined searching on the major search engines will reveal many sources of specific information. You must remember to target your searches. Get specific!
When you have successfully developed your marketing plan, look at your 'ongoing promotions', which may include advertising, press releases, public relations, sales materials and customer service to name only a few. These terms can become confusing: advertising, marketing, promotion, public relations and publicity. These terms are often used interchangeably. They refer to different -- but similar tasks.
Look at a list of simplified definition of each term.
1.) Advertising -- presenting a product (or service) to potential and current clients. Advertising needs to be focused on a particular product or service. We must understand that an advertising plan for one product will be different from that for another product. Advertising is usually done with signs, brochures, commercials, direct mailings or e-mail messages, personal contact, website banners, etc.
2.) Promotion - Promotion is keeping our product in the minds of our client (product recognition). Our ongoing efforts in advertising and public relations are often considered elements of promotions.
3.) Public relations -- Public relations is ongoing activities that ensure your product or service has a strong and positive public image.
4.) Publicity -- being mentioned in the media. This is always the review of someone else but can include news releases.
These are a few of the many terms that need to be learned. The health and well being of our business, your business, is determined by the extent of diligent study that you do and the application of the principles that you learn through study. To best know your product or service or clients or competitors, you must develop a sincere determination to become as diligent as possible.
Remember these few examples of Solomon's Proverbs to help you develop a growing and successful business.
Proverbs 10:4 (NASB) "Poor is he who works with a negligent hand, but the hand of the diligent makes rich."
Proverbs 12:24 (The Amplified Bible) "The hand of the diligent will rule, but the slothful will be put to forced labor."
Proverbs 13:4 (NASB) "The soul of the sluggard craves and gets nothing, but the soul of the diligent is made fat."
Proverbs 21:5 (The Amplified Bible) "The thoughts of the [steadily] diligent tend only to plenteousness, but everyone who is impatient and hasty hastens only to want."
Commit this last Proverb to memory. It will serve you well.
About the Author:
Good marketing plan is necessary to a successful venture. Visit Rev. Bobby at The Christian Success Institute to learn Solomon's Success Principles through an intense study of the Book of Proverbs. Earn a residual income while you learn Affiliate Marketing Principles
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