Here are some marketing myths many of us believe to be true:
- Offering a broad range of products and services ensure sales, hence I will take whatever come my way.
- If we lower our prices, more people will buy from us.
- Marketing is advertising and sales.
- Marketing is a creative industry which requires lot of creativity.
- Social Media marketing will make my product successful.
- Advertising sells my product.
Marketing is not just advertising or sales, in fact it a process of doing need analysis, identifying customer’s pain points, coming up with a product or service offering that is beneficial to all the stakeholders, which includes not only clients, partners but also society around us.
Sometimes we think that if we are offering a broad range of services, we will be successful. We may like to look at the initial years of successful companies. Those companies were successful because of their expertise in their work.
We live in an “Attention economy”, where we and our customers have limited 24 hours. We want to go to best doctors, wear best designer clothes, and live in very built houses.
we as service/product providers also have just 24 hours. We can not be expert in every service offering when we are just starting. Hence, it is important find your niche, have focus.
Marketing is about finding the customer’s pain points, finding a solution and packaging it in such a way so that customer can relate to it. It’s not just you who is looking for customers. Customers are looking for solutions which will meet their needs, wants and desires.
MOOV, Pain reliever from Paras Pharma was successful not just because they advertised “ooh se aaha tak” but because they understood the market pain points – Iodex stains on clothes, Medicinal odour of IODEX, Packaging in a glass bottle. It beautifully focused it on women as customer segment, made an emotionally connecting advertisement, packaged in a plastic carry away tube and BINGO – It was able to take a majority share in no time.
If we are still thinking that marketing is advertising and advertising gimmicks can help us make money, we may like to rethink our marketing strategy.
Shweta
www.linkedin.com/in/Shwetaaggarwal
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I don’t know a lot about marketing but I think that it is deliciously interesting. I use to complete surveys over the phone for a market research company and I loved it. Finding out what people want and need and watching products and sale change to match that info I acquired was a neat process. Now that I’ve gone into the blogging business i find it hard to know how to even begin market research. I plan to offer a service later on but I am still in the learning phase and I’m not sure how to proceed. Thank you for helping to remember that I can’t just count on people needing what I’m selling, instead i have to get out there and find out what people want and they them know that I’m the best at it, when that’s true.