When you have developed and tested your new product or service, you will need to choose what sales channels to use to maximise your sales.
These days in competitive and uncertain markets both business-to-business and consumer businesses need to select sales channels carefully because of the increased costs of distribution and face-to-face selling.
What does an entrepreneur need to know about marketing to win with their new product or service?
Let’s first see what marketing is and what it isn’t for the start-up business.
Marketing is about offering a potential customer a product or service that meets or fulfills a need, want or desire that they already possess. Don’t let statements like marketing “develops a demand for your product or service” mislead you. Demand must already exist in your potential customer, even an unmet need. For a small business to try create demand is simply foolishness. Yes, you can offer potential customers a product and service that satisfies the need that they already have but you really can’t create the need, want or desire in them. You need to channel their demand towards your product or service. Continue reading “What a start-up really needs to know about marketing”