Marketing strategies

Marketing Strategies for Small Home Business

Marketing means business! To borrow a phrase and slogan from CIM (Chartered Institute of Marketing), and it's true! Without marketing, your home business or small business set up will not grow, or worse, remain stagnant or just never take off.

Many a persons including mid level management through senior managers never understood the concept of marketing and get confuse between the meaning marketing and selling. Sales and selling is not marketing. And marketing is not going around door to door trying to hawk your wares or approaching customer on a one-to-one basis to close a deal. That is sales and selling, which the correct term would be personal selling.

Marketing is much bigger than that, and selling is just a subset of marketing. Marketing involves the balancing of marketing mix which encompasses the 4Ps, namely Product, Placement, Promotion and Pricing. That is not all, marketing also involves in the servicing aspect that is given to a customer at each contact point which will give the impression to the customer who will then judge how good the service was rendered. In addition there is also the aspect of market research to gather the market information to determine what the potential customer would like to have in the products or services that they will purchase.

In a big organization especially those companies that are dealing in FMCG (fast moving consumer goods), the marketing manager or brand manager is a very important person to ensure that the products made by the company gets to the market and not just any market, but the targeted segment which their product appeals and identifies with it.

That's fine and well for the big corporation who has huge resources to promote their products. But what about the small home business owner who has limited resources to push their products or services into the market?

Here we will explore and study some of the methods used by entrepreneurs and small business owners how to go about achieving some lasting marketing activities and contrast it with what the big boys are doing. The marketing strategies may or may not work in your area of business but like all businesses, there is no one correct way to market your product. There are no hard and fast rules, as each product and services is different, and it also depends on your geographic location, demographics, local culture and current trends as well.

So look through some of the articles and see if it is applicable to you.

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