Marketing covers for most of the sales process. It starts with idea creation for a product, continues with idea development, follows with price setting and distribution, when finishes with planning and implementing actions to promote your sales. Let’s take a look at the four elements of marketing.
Product or service: If you want to be successful, it is important to have an attractive product. Also, it is best to have a product/solution that would stand out among others in the market. This way there is a higher chance to have demand for the product in the market.
Price: When pricing, it is important to take your potential customers’ income into consideration. You need to make sure that your target audience is able and willing to choose your product for the price you offer. Note that pricing should be focused on earning a profit, so do not forget to take your costs (materials price, workforce, utility charges, etc.) into account.
Distribution/Location: To reach your target groups you should know what places your customers visit and decide what price level shops are most suitable for your product distribution. If you want your own shop or premises – you have to find a place where services would be in the greatest demand.
Promotion: Sales can be promoted in various ways such as advertising on TV, media, printing brochures, social networks, or public spaces. Promotion discounts can also be directed to existing clients, to ensure their loyalty, since they can bring you, new clients.
