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What you should know about the basics of marketing

Many new business owners overlook the importance of having a strong marketing plan.They either assume that because they have such a great product or service they don't need to market and they may think that marketing doesn't matter since everyone will want to buy from them. The reality is that if you don't let your customers know what you have to offer them and where to find you, how will they know to shop with you? In addition, it is crucial to understand that there will only be a certain segment of the population who will be interested in buying your product or service. These are the customers that you need to market to. Once you understand the basics of marketing you will be able to successfully reach out and find the customers who will make your business a success. Here is what you should know about the basics of marketing-

- It all starts with market research-Every effective marketing campaign starts with market research. Inexperienced business owners often feel that they don't have the time or money to do market research. This is always a mistake. The bottom line is that if you don't know who your customers are or what they are looking for it becomes impossible to successfully market to them.
- Know what your customers are looking for-You will need to know what your customers are looking for in order to show them that your business provides them with the solution that they need. No matter how great your product or service is if your customers are not looking for it, you won't be successful with it. In addition, it can also be valuable insight to know how your customers use your products or services since this can also dictate how you will market to them.
- Fully utilize online marketing-Online marketing has become the forefront of business promotion. However, there are some business owners who feel that they don't need to market their business online. This is unfortunate. Today's tech savvy customers often turn to the internet to research before they even make a final purchasing decision. This means that if your business does not have an online presence then you may not even be considered by the very people that you are hoping to attract. Marketing your business online is a cost effective way to reach a large number of your target market easily and quickly.
- Offer the best in customer service-One of the simplest ways to get your marketing up and growing is by offering your customers the best in service. Studies have clearly shown that many customers will return to buy again from a store simply based on the level of customer service that they received. This is true whether or not the store offers the lowest price. It is imperative to train everyone who works for you that their top job priority is to offer the best in customer service. When this happens it will have your customers telling their family and friends that they should be shopping with you.
- Know who your competition is and what they are doing-Business owners often make the mistake of thinking that they don't have any viable competition. The reality is that every business no matter how unique their product or service always has competition. Keep in mind that due to the internet your competition isn't just the store down the street but could also be located halfway across the world.You should always know what your competition is doing and how they are marketing in order to make your marketing even more effective.

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