Monthly Archives: May 2013

How Do You Think Marketing Will Change?

31 May 2013, by A. Cedilla

Marketing:
“[…] the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.’’ (1)

In simpler terms, marketing is identifying who your buyers will be and making a connection to them, and it also covers all the actions you carry out to get to that place.

Advertising is to get your product known. Marketing is selling it to your customers.

Advertising is trying different things to let your product presence be acknowledged, and often through different campaigns. Marketing is building strong relationships through your brand with your market, advertising is getting your market aware of your brand.

Marketing Research:
“[…] is the function that links the consumer, customer, and public to the marketer through information–information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.(2)

Businesses, at their core, survive because they make money. Money to grown with, money to live on, money to keep going.
Businesses grow out of the seed of an idea.
Then the Internet happened.
People started thinking of old things applied new ways.

What if we can sell stuff online, like, an online mall or something ?
What if we make a place online to upload and show videos?
What if we set it up so people can buy, sell and bid online?
Continue reading How Do You Think Marketing Will Change?

Advertising and Marketing: Explaining A Beautiful Relationship

24 May 2013, by A. Cedilla

Advertising is letting people know you exist and that you’re offering certain products and services. Marketing is creating and carrying out campaigns to develop a mutually beneficial relationship with the people occupying your target niche by fulfilling their needs for certain things.

Targeted advertising focuses your marketing efforts on the certain group of people who are most likely to buy your products because of their particular needs and desires.

To be successful and make money, any business-owner not wanting to crash and burn must know his particular market within a market.

Malls have their own special sections for those. Aside from the various specialty stores within them, any mall worth its salt would have men’s wear women’s wear, infants, and health & beauty sections, just as examples. The customers can go to the place where they are assured they can find what they need in one location. Think of Amazon with its online ”departments’ classifying everything it offers from appliances to watches.

Targeted advertising is you sending your marketing focus and efforts among the people most likely to need and want what you’re selling, and the most probably to buy that from you.

Pretend you have stacks of old magazine subscriptions lying around: Which of the ones below would interest you, and why? Continue reading Advertising and Marketing: Explaining A Beautiful Relationship

10 Timeless Rules For Business Survival

17 May 2013, by A. Cedilla

 1. Manage your costs.
Financial management skills are necessary to a business’s continued operation and survival. You burn through capital without anything to show for it, you might as well have set your money on fire. A business can’t survive without money — that defeats its purpose.

  • First you have to have money to start a business in the first place : a bankroll, start up funds, inventory purchasing, tools and equipment, or web-hosting costs, site design, advertising, etc.
  • Then to keep it running (operational, labor and overhead costs) until it starts making money, and until it reaches the point of sustainability
  • Then there are things to consider like market research costs like trend analysis and forecasting, and the work needed to gather and act on customer feedback in order to be competitive.

Luxury brands can keep their margins high because their exclusivity and craftsmanship practically guarantee that the people who can afford their products are those in their target market. Other brands make their money through sheer volume (think Forever 21). And that’s just for physical goods. Digital goods are another kettle of fish entirely…with the speed of their transmission, generating buzz, viral marketing, and social media marketing are just the tip of the iceberg. And doing all that takes time and money.

Market savvy in relation to sourcing, costing and pricing (material goods and their production), value and pricing again (e-commerce) is a very real edge in business. You need to find the sweet spot to profit, and to produce the things your market buys from you..

2. Constantly check yourself.
Without intervention and direction people plateau, and so do businesses. Can you imagine peaking in high school? Or hearing that you made it on the list of a “Where Are They Now?” gossip session? Time passes for everything, and in order to be relevant today and tomorrow, you must be able to still connect to the times and with the times.

One way is to watch the market you occupy and adapt before you’re flattened by change. Kodak, once the world leader in photography and film equipment, wasn’t able to adjust to the digital revolution, and is still struggling to get to its feet in the aftermath. For a business to last, it must find ways to stay relevant to the times, and that means numerous adjustments to stay on course.

For instance, who would have thought you could still make a living making seals and signet rings? You’d imagine a tiny, crotchety old guy crafting shiny silver thingies in a small store somewhere, but no, these craftsmen advertise on the internet and are quite active in their respective fields.

Continue reading 10 Timeless Rules For Business Survival