Let’s look at how to apply marketing in a business, through 10 steps:
1. Investigate the Market
To apply marketing in a business, we must first research the market in order to identify business opportunities through the identification and analysis of needs, problems, desires, changes, trends, etc.
2. Segment the Market
Second, we must segment the market, ie, divide the total market that exists for our product and select from the resulting market more attractive to venture.
3. Analyze the Target Audience
Once you have segmented the market and chosen our market or target audience, we analyze consumers that comprise it, ie, analyzing their needs, preferences, desires, habits, purchasing behavior, etc.
4. Analyze Competition
Once you have analyzed our target audience, we analyze the competition, ie, analyze your location, experience, skills, strategies, advantages, strengths, weaknesses, etc.
5. Design the Product
Once you have analyzed our target audience and our competitors, we design a product or adapt we already have, so that you take care of the needs, tastes, preferences and desires of our target audience and, at the same time it can compete and differentiate themselves from competing products.
6. Determine the Price
Once we have designed or adapted our product, we must determine the price, according to the economic capacity of our target audience, our economic aspirations, and average prices of competing products.
7. Distribute the Product
Then proceed to distribute the product, ie proceed to identify and develop sales channels and points to use for consumers that make our target audience can access our product in the most efficient and immediate as possible.
8. Report on the Product
Then proceed to inform our target audience through advertising media, such as newspapers, Internet, brochures, etc., that we have a product that can meet your needs, tastes, preferences and desires, with a reasonable price and can be found in sales points accessible to them.
9. Encourage the Purchase of the Product
Once consumers know about us and our product, we proceed to design sales promotions that encourage the purchase of the product, such as, for example, special offers, discounts, sweepstakes, etc.
10. To Return to Buy
And finally, make sure that our customers come back to purchase our product, by providing good customer service and make use of some strategies to retain customers, such as providing after sales services and maintain customer contact.