Marketing Mistakes That Will Cripple Your Company!
Errors happen regardless of 'what type' of business industryyou're operating. Employees make critical errors on a daily
basis. This is often due to the company's size, the number
of employees, and the inability for management to review
departmental progress. To avoid some of the critical
marketing errors that occur, you need to recognize and
evaluate your strategies.
Nonexistent Marketing Plan
It is rare that a small business owner will actually make a
marketing plan. This is because most small businesses are
started with precious little capital and the concern over a
marketing strategy is nonexistent.
It is essential for all types of businesses to devise a
comprehensive marketing plan in order to succeed. It is as
important as taking a map with you on a road trip so that
you don't get lost. It doesn't make sense to pursue a
business without considering a marketing plan. Breaking
down the important elements and charting the plan for
success, eliminates the fear of failure.
Being Oblivious to the Market
Who, what, where, and when are the questions you should ask
yourself. Failing to analyze the market is quite common.
The target market needs to be within reasonable reach. If
not, you're heading for disaster.
"Who" refers to the type of customer that purchases the
company's products and/or services? This often begins with
listing by genders, age groups, ethnic groups, and local
establishments.
You also need to know where your potential customers are
also where your competition has its customer base. If your
company depends on traffic from the street, you will want
to know about the area immediately surrounding your
business.
"What" is a reference to any potential limits. Location
will always be a huge factor. Knowing the location of
your competition's customer base is great because then you
will know if there are any limitations that need to be
addressed.
Interchangeable Services and Products
It is not uncommon for business owners to go from one
endeavor to the next without being specific. People become
confused when this happens because they do not know
precisely what kind of products or services are actually
being sold. Such business consider themselves "full
service" providers for the customer and while this might
generate more profits it cannot help but confuse the
customer.
Lack of a Business Plan
Marketing 101-"Don't begin a business without a Business
Plan!" A business plan built on the promises and actions
of others is doomed. The "dream" needs to be real and
believable. Each step should be calculated and achieved by
the efforts of one person - you. The company needs a
foundation built upon the owners experience and knowledge.
Not Responding to Customers
The business world continues to spin faster and faster so
you need to immediately respond to the concerns of your
customers. Slow response times can cost you customers.
The holidays are a great example.
A customer in a hurry jogs into a department store and
cannot believe that there are at least fifty people or more
waiting in line to be helped.
A. Does he wait patiently in line for his turn?
B. Will the manager open up another line?
Naturally the manager should open up another line because
most people will never wait that long to buy anything. The
manager needs to respond to the needs of the customer and
find a way to help people get in and out of the store
quickly.
It is easy to avoid some of the more common marketing
mistakes once you see that you are guilty of committing
them. Plot a course of action and check progress monthly.
You may want to invest in a business consultant to help you
get everything in order. It could be money well spent.
David Kingston runs a very interesting website at
FAT Marketing,
visit there today for the latest Business advice, and
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