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How to devise the right marketing mix to maximize profitsBusiness owners and managers are constantly looking for ways to maximize their profits. Often, marketing is an excellent means for this to be accomplished. One way to maximize your profits is by devising the right marketing mix. This includes combining different marketing resources and tools in order to reach more customers and draw more business. For example, let's say your primary marketing focus is direct mail. However, because mailing lists can be expensive, you can reach more customers by combining mailing lists with something else, like flyers or cold calling.
Press releases You can write a press release for a number of different things, such as the opening of a new store, the introduction of a new product, your grand opening, or participation in a charity event. Call your local newspapers and ask who to direct your press releases to, and then make sure you write a well-written, error-free release. Flyers or mailers If you do decide to use a flyer or mailer, don't just place them randomly. Do your market research so you can send them to people who are specifically looking for the services or products you provide. Make sure they are designed well and not loaded with text - a sentence or two and contact information should suffice. Freebies You can advertise your specials in a number of ways, including flyers in your business, postcards, signs, and so forth. If you have the budget, the radio is a good place for advertising as well. Charity fundraisers This is a great promotional technique since you will most likely be getting free publicity for your event as well. Make sure you advertise, send out press releases, and call local news stations to cover your event. Pass out information about your company to those who attend. When it comes to devising the right mix, make sure you take into consideration your budget as well as your demographics, so you are utilizing marketing materials that will reach the right group of people. With that in mind, the right mix of materials can greatly maximize your profits and reach more customers.
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