Marketing - the most important ingredient

[DayTrader]

Marketing is the most important ingredient in any business. Without it, your business will not push forward. A portion of the capital should be alloted to marketing and research. Apart from producing high quality products, marketing should be well thought of. Marketing can get expensive, it must be well planned.

[DayTrader]

Marketing is the most important ingredient in any business. Without it, your business will not push forward. A portion of the capital should be alloted to marketing and research. Apart from producing high quality products, marketing should be well thought of. Marketing can get expensive, it must be well planned.

What are your thoughts on this?

[akula]

i think that you're stating the obvious. the sky is blue, so what.
it's boring, no one cares

what would be more interesting is if you presented quantitative research on the cost of customer acquision across different industries

..particularly looking at outliers: ventures which have either dramatically decreased their cost of customer acqusion, or those which have flopped as a result of not being able to acquire customers affordable

that sort of data is interesting to discuss. ventures which acquire cheaper than competitors, win in the end.

[RealProfitStrategies]

Well, yeah. Marketing is obviously important. It's kind of like saying "eating is important to staying alive". I'll add that most companies miss out on a lot of sales because they devote most of their marketing resources to trying to acquire new customers when they could be boosting revenue and profits by making more and bigger sales to their existing customers.

[Jyess]

Well, yeah. Marketing is obviously important. It's kind of like saying "eating is important to staying alive". I'll add that most companies miss out on a lot of sales because they devote most of their marketing resources to trying to acquire new customers when they could be boosting revenue and profits by making more and bigger sales to their existing customers.

Very true. At my job the good thing is that you have to have a license to sell our products so we are forced to market back to the same customers we already have.

[DayTrader]

When new in business, it got to have a starting point. There are no old customers. Reaching the target market should be well planned. The initial phase is the always the most difficult part.

[mediainsider]

Ok here's somthing.
Part of your marketing plan should involve the media, but not paid advertising, instead FREE KICKS from the media.
And wiorking in the media for the past 30 years I have found that there are a number of very clever people who build relationships with certain members of the media, and as a result, are often the ""GO TO"" people when a story breaks that is within their relm.
Example .. In Adelaide Australia, when ever "interest rates" go up, the media ring Bernie Lewis homeloans and speak to Mark Lewis (sadly his mum and dad (Bernie) were killed in a plan accident 3 years ago) .. Mark Lewis has developed strong relationships with various financial reporters around town and is now reaping rewards.

And this is importnat as well.
A news story involving AN EXPERT will generate more credibility for that person and their business than a payed commercial.

Hope this all helps
Mark Aiston
Media training, Presentation Skills, Media education.