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, contact your nearest Idaho Small Business Development Center.
