What is Marketing and why is it important? 

Marketing is the promotion of your goods or services. All clear? Perfect, our work here is complete.

As you’ll discover as we dive into the world of Marketing together it’s much more than this one simple sentence. But fundamentally it’s as simple as telling people about the stuff your selling.

Now the people that you want to tell might not all be in earshot, so there have to be other ways that you can reach them.

When you’re first thinking about marketing, a quick Google search will tell you about 4 or 7 P’s. These are things you need to get right in order to be able to effectively market or promote your goods or services. Businesses spend years getting these right, but it doesn’t mean you can’t start promoting before they’re all perfect.

We’ll explain each one so you understand what we mean…

Product

  • What is it that you’re selling, a product or a service? do people need it? do they want it? Is it brand new? or better/different to another product or service that already exists?

Price

  • How much are you selling it for? How much is it worth? How much are your competitors charging for something similar?

Place 

  • Where you you, physically? Are you selling your product/service from there or somewhere else? Are you selling a physical thing or experience? Can customer get to you or you to them? Are you online?

Promotion

  • The way you tell your customers about your product or service. Most of the content you read here will help you with promotion.

People

  • This refers to the people that you surround yourself with, your employees and other people involved in one way or another along the delivery of your business. People will make or break your business, make sure they are well motivated and buy into your Vision.

Process

  • How you do it… it is a product you make my hand, is it something you buy do something to and then sell, is it a service that you provide, do you provide it yourself or does your team or contractors provide it? There is no right or wrong, but having a clear process from conception, production to the hands of customers is important.

Physical 

  • This captures a lot of elements into one eight letter word, physical talks to the idea of first impressions. It doesn’t matter if that is the colour of your brand, your packaging, your sales team, an email from your business, or you. Who you are and what you stand for will either entice or repel customers.

It’s important to consider how all of these elements link together…

  • A brand that stands against animal testing on their make up products but promotes their products while the models are wearing fur… here the physical part of the 7 P’s doesn’t align with the promotion element.
  • Or if a business wants to focus on exceptional customer service and hires an employee that is constantly rude to customers the people and the process don’t marry up.
  • Or if a business is selling luxury hand made, personalised cards for 99p, the price doesn’t sound very luxury and therefore your customers will question whether they are really getting something that is truly luxury.

None of these elements are static, from you launching a business and through the changing markets and competitor landscapes you’ll find that elements of the 7P’s will change, grow and adapt with you.

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