The following are some of Ten Animals 5 P’s of Marketing for successful business planning
Every seasoned business owner and entrepreneur knows that in order to keep your business operating succesfully, you must make a profit and satisfy the wants of your customers. You must consider the product, the price, the place, the people and the right promotional mix for your product.
The right product
The right product is always what the customer wants to buy and not what you want to sell. The right product is always more likely to attract the volume of sales that you’d like.
The right price
Think about your customer for a moment. What is the maximum price they are willing to pay? If your prices are too high in a saturated market or when demand is too low you are bound to lose customers to your competitors.
The right place
Your customer defines what the right place is because it is the most convenient to them. Even if your products or services are of the highest quality, a poor location will become an obstacle for sales. You must also find the most adequate space for your products within your location. If you own a bakery, for example, the best selling breads must be near the front to attract attention and where they’re most convenient for your custumers to reach them.
The right promotion
Having the right promotional combination of publicity, advertising and public relations is crucial to your business. If your customers are not aware of your products or services and your locations, you will not sell.
The right people
Targeting the right people will undoubtedly help your recognize who your customers are early in the game. This will help you determine all the above factors into the ideal combination for your products or services to become a success.
Ten Animals can help you identify the 5 P’s of marketing that are right for your business to kick-start it’s way to success. By providing the material, knowledge and guidance that Canadian businesses need to target the right market in the initial and crucial stages of business development.
Get in touch with Ten Animals today to schedule a free consultation. We have been waiting for you!