If you cannot present your product or service to your customers in a way that makes it more attractive than your competitors, your business has little chance of success. Marketing includes sales, advertising, promotional activities, pricing, packaging, the location and even the name of your business. Improve your marketing skills to increase sales.
Marketing is your most important organizing tool. There are four basic aspects of marketing, often called the "four P's":
- Product: the item or service you sell
- Price: the amount you charge for your product or service
- Promote: the ways you inform your market as to who, what and where you are
- Provide: the channels you use to take the product to the customer
The principles of determining market share and market potential are the same for all geographic areas. First determine a customer profile (who) and the geograhic size of the market (how many). This is the general market potential. Knowing the number and strength of your competitors (and then estimating the share of business you will take from them) will give you the market potential specific to your enterprise.