Even today the German word is still valid: ‚Who doesn’t promote will go bust’. Before, however, there is the question: Who should be reached with which kind of promotion, when, how and where? Unfortunately it is still the same for many people: ‘Marketing’ is put on the same level as promotion. Yet, it is so much more: It is he framework around all companies’ activities, i. e. the catalyst as well from the company into the market as from the market into the different departments of the company.
‘Marketing / market-oriented management’ means that the company acts in accordance with the needs expressed by the market. Without information from the market/s it will, however, not be in a position to fulfill such tasks.
This market consists out of consumers paying for a performance. Only if we deliver something which suits him and his needs, we will sell at all – and that’s what we live from. The better we fulfill his needs and wishes the more successful we will be.
Thus this market includes not te sales routes like wholesalers, representatives of all kinds, synergy partners, alliance partners and more – or the Internet. All of them are only vehicles used in order to reach the final clients. Sometimes the client prefers to buy directly from us, sometimes via wholesalers and – depending on the product or service – sometimes via retail traders or the Internet.
Consequently the first task will be to identify who, where and how this ‘final customer’ can be found, which plans and visions he has and how and where he prefers to buy. In the INTERNET-age – of course depending on the targets and possibilities of our company – this market means the whole wide world, because we can be reached 24 hours a day, every day, all year long from everywhere.
Before starting any promotion it is vital therefore to strategically look at these markets, having in mind our specific ‘finger print’.
‘Finger print’ means that no company is he same with any other one, even if they produce the same products. And this [our] finger print has to be found/identified before we can start any kind of promotion towards the respective [our] market segment/s.
In the first instance such analyses include [but are not limited to
- WHO can be our client [as per the product/s we produce, the services we deliver, out of the competencies which we have] – industrial field, product field, size of company, and much more - WHERE can this clientele be found – regional / national or international / global [is it e. g. a single client wishing to buy from us or perhaps an industrial group looking for service in different international locations] - WHAT do we expect to offer this market segment / target group and - HOW can this kind of clients be reached best – direct sales, wholesale, retail, own representatives, synergy partners, and much more
Thereafter only we will be in the position to promote meaningful: Referring to the group or end user we want to target and to decide about the respective means – e. g. exhibitions, advertisements, professional articles, etc. – in order to inspire the recipients where they con be reached best. Thus promotion – please see also the 4 P = Product, Price, Promotion, Place – understood as a communication policy is only arranged later in the line.
In order to use the precious tool of ‚client communication’ – which includes besides of advertisements further elements, like newsletter, networking, professional articles, etc. - within our targets and our budgets, we first need to know: To WHO do I intend to sell, WHY, What and WHERE, and HOW can I do this better than the competition.
Knowing out market segments / clients as far as ever possible will enable us to confront the world-wide competition successfully.
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