The basics of marketing

What good is having a great product and service if nobody knows about it? It takes five to seven impressions for consumers to recognize your company logo. That is where marketing can help you out. 

A good marketing strategy can help increase your brand awareness, generate sales and build brand loyalty. You can start marketing your business on your own or through the help of an Omaha marketing agency. 

Before you dive into creating a marketing strategy, you need to first understand the basics of marketing. Check out this valuable marketing information that our team has gathered. 

What is marketing?

The term marketing is used to describe all the activities involved in promoting the buying and selling of a product and service. This practice includes bringing in potential customers and maintaining relationships with existing customers. There is an essential mix a company needs to market a product or service, and that mix is called the four Ps of marketing. 

The four Ps of marketing

Product

A product refers to the item or services that your company is offering your customers. A marketer should have a good understanding of what the product is before marketing. 

Price 

The price is how much that product or service is going to be sold for. A company should consider pricing a product or service correctly to drive the most sales and make the most profit for the company. There are several factors that can affect the cost of a product or service. 

Place

Have you considered where you are going to sell this product? Are you going to only sell it in-store or create an online store? It is best to determine where you should put these products in front of your customers. 

Promotion

The last P in marketing is promotion. In this step, you have to think about how you are going to advertise your products and services. You want to showcase to your customers why they need your product and how it will solve a problem of theirs. 

The importance of marketing

Now that you know the basics of marketing, it is time to learn why developing a strong marketing strategy for your business is important. Here are some reasons why you need marketing. 

Increase brand awareness

Marketing can help you get your product or service in front of potential customers to increase brand awareness. Then, when they need your product or service, they will be able to recall your business. 

Build and maintain reputation

Your company’s reputation is everything. If you have a bad reputation, people will be less likely to do business with you. Marketing can help build and maintain your company’s reputation. It is important to maintain a good reputation for your business because people will research before making a purchase. 

Boost sales

A good marketing strategy can boost your sales. It uses different channels to target your audience and increase the likelihood of them buying your product or service. However, it is important to note that it helps increase sales from new and existing customers. So those customers who have bought your product are more likely to return and make purchases. 

Need help managing your company's marketing? Hire an Omaha marketing agency!

At Monstrous Media Group, we have marketing professionals who can manage your company’s marketing. It can let you worry about other tasks. Contact us today!