Chapter One – Marketing Fundamentals introduction and history
These days, in the midst of the 21st century, it is more important than ever to adhere to the marketing fundamentals for small businesses.
It is super noisy out there because everyone is trying to carve out their little piece of the world by vying for your, (and your customers), attention.
Following these guidelines will give you the highest probability of differentiating your company. Using these marketing fundamentals for small businesses will keep your business from becoming another commodity producer.
Not being a commodity allows you to retain customers, create more referrals, charge a premium price, hire top talent, and more. Having a well-developed brand and marketing program gives you extreme growth potential. This is what you want, it’s called a brand, and completing the marketing fundamentals will achieve it.
The growth of your business relies heavily on exposure and getting new clients.
Marketing is the key to getting this exposure but it can be expensive and ineffective without planning.
The wise use of your resources, especially in the beginning, is absolutely necessary. Following the marketing fundamentals will maximize your marketing investments.
You need to do the things that will get you the most bang for your buck. Without a way to disseminate the marketing fundamentals for small businesses from shiny objects, you are left to guess.
Guessing is never a great way to spend your money.
In this article, I will be listing the key elements of a well-thought-out and strategic marketing plan utilizing the fundamentals of marketing. You are capable of doing these things on your own. I will give you direction on what these things are and which ones you should do first. This is only an outline with a description.
Hire a professional like us or do significant research prior to a serious investment.
The First Principles Concept is what we used to derive the marketing fundamentals
It is very beneficial to understand the “First Principles” of something to do it well. This list of marketing fundamentals for small businesses follows that guideline.
The idea of first principles is a philosophical notion of utilizing the basic building blocks of an idea. Read, “First Principals: The Building Blocks of True Knowledge”, for more information on this topic.
First Principles – the concept of breaking down an idea into basic propositions that cannot be formed from any other ideas.
For example, having a logically formed marketing strategy is a result of utilizing marketing fundamentals.
During the formation and initial growth of a company, having these first principles, these marketing fundamentals for small businesses in place will keep you from spending money on the wrong things.
I created this list of marketing fundamentals and the ideas, tools, and tactics using this “first principle” thinking. They will allow you to formulate and stick to a plan because you understand why to do them.
The basic idea is to leverage all the fundamental tools of the digital world before spending money on advertising. That way when you do spend money for attention and eyeballs, the messaging and format are distinct, clear, and ready.
It sounds basic and simple but these days it really isn’t. Why? Because everybody is trying to sell you their thing too, and they know how to persuade. Companies will do anything they can to convince you that their tactic or tool is an absolute necessity for the growth of your business.
It is in their best interest if you skip steps and go right to their thing.
They would have you believe that their thing is not a shortcut, not a shiny new object. That is the world we live in today, and it is part of the reason marketing fundamentals still work so well.
So first, what is marketing? It’s something that creates an opportunity to start the sales process.
It’s a repeatable activity that brings your target to you so you can make a sale. Marketing is removing an obstacle to making sales.
People looking to grow their business need more sales and a huge obstacle for them is not enough people know. Marketing gets their attention to start knocking down these obstacles.
How is this done? You need to do three things.
- Identify an ideal target market that contains the people or businesses you want to sell to.
- Understand their innermost needs and how your solution can meet both these psychological needs and their real-world problem.
- Communicate to them with soft approaches and hard approaches.
These soft and hard approaches can be described as branding vs. marketing or as Gray Vee puts it… Jab, jab, right hook, but more on this some other time.
end of chapter one, go to Chapter 2.
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