Customer service, marketing, Small Business

Defining your Target Market: Not everyone buys the same toilet paper

As a business owner, do you know who your target market is?  Can you describe the person or business that you are specifically targeting that can benefit from your product, find value in your product, and willing to pay for it? When I teach marketing to college and graduate students, I like to talk about… Continue reading Defining your Target Market: Not everyone buys the same toilet paper

finance, marketing, Small Business, Uncategorized

50 Cent or $5 Donuts: The positioning of donuts

I wanted to dive into positioning a business and products a little more from a post a few weeks ago. What better way than to illustrate by using donuts? Here's the first donut that you may be familiar with. Product #1 is a simple donut from the local grocery store, i.e. Kroger:. It costs about… Continue reading 50 Cent or $5 Donuts: The positioning of donuts

Customer service, marketing, Small Business, Uncategorized

And then there were 7 P’s of Marketing

Later that night after I posted the 6P's of Marketing blog post, I remembered there was a 7th P- Position. Position means where in the market the product sits in relation to its competitors. Basically, are you selling a $2,000 Louis Vitton handbag or a $20 handbag at Wal-mart? What is the position of the… Continue reading And then there were 7 P’s of Marketing

Customer service, marketing, Small Business

6 P’s of Marketing

Each marketing class begins with the 4 P's of marketing: Product, Price, Place, and Promotion. They always start with the 4 P's. However, through taking classes and teaching classes, then 4 P's have been further expanded to include people and profits.  Product is the product or service that you are providing to potential customers that… Continue reading 6 P’s of Marketing