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SpinDistribute.com Article Directory

The following article was published in our article directory on October 2, 2015.
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Entrepreneurship 101: Marketing the Business

Article Category: Advice

Author Name: Gideon Walcott

Marketing is a social and managerial undertaking through which an entrepreneur gets what he needs and wants through producing and trading products and services with others. To explain more about the definition of marketing, you may study these following terms:

Products

These are what you suggest and recommend to your customers to buy as a means of satisfying their needs and wants. Products are not limited to tangible objects. It can also be a service or idea that provides contentment to a person.

Markets

The so-called target market refers to a group of potential buyers who want to exchange product and value to a seller. It can be determined through a location. For example, you build your school supply store near a school. Therefore, your target market is the group of students who are always passing by your location. An entrepreneur should be wise in determining his market.

Needs

It is something important to a person which expresses a feeling of deprivation. People have both physical and social needs. When these needs are not met, something is completely lacking.

Wants

It is a human need developed by a person�s personality and culture. Americans usually grew up with pizzas, burgers, fries, and sodas as their comfort foods. While Asians prefer noodles and dumplings more. Everyone �needs� food, but people have specific �wants.�

Demands

People have unlimited wants, but limited supplies. They will surely go for products with the best quality even if these come at high costs. When money is not an issue, wants can become demands. An entrepreneur should always look for ways on how to meet the demands of his customers. That is when you�re going to be successful.

Customer Satisfaction

Buyers have their own expectations and when these are met, customers will be satisfied and contented. Exceeding them will be an advantage of the seller to gain more attention from consumers. This should be the primary purpose of an entrepreneur and his business.

The most important part of the advertising plan is defining your target market. They are the ones who will make use of your products and services. Your profit will come from them. So, you must do an extensive research about the customers in your market. What problems do they have that need a solution?

Make sure to cater to their needs so you will catch their attention. If there are business rivals, be unique and differentiate your items from them. Take these pieces of advice on how to handle the marketing aspect of your business.

Marketing means dealing with markets to bring about transactions to satisfy the people�s needs and wants. Every entrepreneur should be aware of its principles, here are some of them:

Production

consumers will most likely choose the products with high quality but still affordable. That is why you must focus on the production of your goods. Make sure that the raw materials and the processes are efficiently used and planned to avoid high production cost.

Product

Products sold in the market have similarities with each other. Try to develop and improve your own, so the customers will come to you. Learn how to do product branding and market positioning.

Selling

Selling is not just about the uniqueness and affordability of the product. Customers will only notice it if you have the proper promotions and advertisements. As an example, you can make use of the internet as a selling tool.

Keywords: entrepreneur,how,to,advice

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