Marketing is one of the most important aspects of your business. Without marketing, potential clients can’t find you. Marketing consists of four elements, often called the “four P’s”:

  • Product – the item or service you sell
  • Price – the amount you charge for your product or service
  • Promotion – the ways you inform your potential clients about who, what and where you are
  • Provision – the channels you use to get your product or service to the customer

Marketing encompasses much more than just advertising or selling. A major part of marketing involves researching your customers:

  • Who are they?
  • Where are they located?
  • How do you reach them?
  • What do they want? (Great product? Great customer service? Follow-up support?)
  • What can they afford?
  • What do they think?

Your understanding and application of the answers to such questions plays a major role in the success or failure of your business.

For assistance in creating a marketing plan for your business, contact your nearest SBDC or SCORE office.

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