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Understanding “Marketing”


“Trade – the exchange of goods – is in all probability the oldest form of business. This is one big step that men took, thousands and thousands of years ago, to emancipate themselves from their individual limitations. When two men make a trade so that each gains something that  he wants more by giving up something that he wants less, then both have satisfied their needs more fully.”

I like this paragraph; for me, it defines the goal of marketing. The important thing here is the value or benefit received in the exchange.

When we “market” a product or service, we want to trade that product or service to someone who can benefit from it, or finds, what they perceive is value. For us, it generated the “dollars” we need to feed our families and grow our business.

If what we produce, product or service, is unique and its value or benefit is easily understood by our target market, then we have accomplished the goal of marketing.

The message that our marketing medium carries is the foundation for future solid  and sustained growth. Pictures, music, colors, and other “glitz” may sell a product or service, but the foundation is weak and the product or service can be easily replaced by a new one.

New “things” are hitting the market almost daily; each one striving to replace yesterday’s hot item. Consumers today, in many cases , are looking for instant gratification in their purchases and not looking at the “need, benefit or value” of the product or service. They spend money, sometimes money that have to borrow, ( charge cards) to keep up with the latest fad, when in reality, what they had before was still very functional.

Think carefully about the durability of your product or service; is it something that provides a true benefit to the purchaser? Is it something he will want more of? Kleenex just came to my mind, I haven’t seen another product to replace it.

When you choose a service or product to market, first make a list of the benefits and value it provides to your target market. Armed with that information you can build a successful marketing plan and your business will grow.

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It is appropriate that when we are approaching business through the evolution of its functions, marketing should be in the vanguard.

Nick Petra
Certified Financial Planner
Business Coach and Mentor.

e-mail: nick@nickpetra.com

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