Ineffective Marketing practices forms part of the down fall of many businesses. I remember a fellow consultant that we met recently had this to say: “Many business owners think that they can do the job and save a few bucks, then let them feel the pain and suffer”.  I greatly agree with his statement, not because I am cruel but I have seen my fare share the type of business owners he was talking about.

Many people see marketing only as advertising or selling, but real Marketing is more than just pushing your massage to the masses and selling things that have no value to the buyer or consumer.
The key word here is value or customer satisfaction. Especially in this difficult times, consumer’s place more emphasis on their perceive value on their needs rather than their wants. Therefore, as a business owner you must know exactly what your customer need, what makes them decide to buy from you, who are the decision makers, and what are their experiences with your product or service. This is what Marketing is all about.

Selling Concept

Marketing Concept

Strategic Marketing assists organisations to gain market leadership or popularity by identifying and understanding consumer needs, then finding solutions or products that would most satisfy the customers’ needs and value. It provides a focus use of precious funds to efficiently target the market segment and product that would provide a lucrative return on investment. If customer value and satisfaction are absent, no amount of advertising or selling can compensate. Thus, the business would loose the buying power of the loss customer to a competitor business, and would in end reduce the sales volume and profits that the business could have achieved.

Everybody needs Marketing. Marketing is used not only by manufacturing companies, wholesalers, and retailers, but all kinds of individuals and organisations. Lawyer, accountants, and doctors use marketing to manage demand for their services. So do hospitals, museums, and performing art groups. Even politician cannot survive the political jungle if he does not market him or her self efficiently to fish for the much needed votes.

Of recent, we have acquainted 2 not so new F&B outlet in 2 major malls in Penang. They are currently suffering losses or at least not earning a fare return on their investment because they have lost track of their initial business bearings, and most importantly the patronage of the their customers as they could not provide the perceive value of their diners.

So, have you developed your marketing plans and budgets to survive the fight for survival?