Marketing Overview

Marketing has are two basic markets-

A) piece of the existing pie (market share)
B) new product/service development

Peter Drucker said it well “The purpose of any business is to get and keep customers.” I would like to add a couple of extras.

1) While new customers and their loyalty is critically important, frequency of these loyal customers will increase your margins, while -
2) No discounts will increase your profits!

For market share increase- if you want to increase your sales above existing status quo, you have only three choices.

1) You can lower your price.
2) You can spend a lot on advertising the same old way.
3) You can add perceived value and communicate the benefits in a full and effective way to get them to go to the next step with you.

There are dozens of different kinds of ”added-values” You can add value one or more of the three ways (as fully described in later parts of this work).

Samples of examples to be elaborated upon, later-

a) You can determine which human desires that you address and do a better job than the other guys of describing what you can do for the customer, and add an irresistible offer to cause them to try you.
b) You can add an additional value to your product/service that the other guys don’t have. This can be either a mental, emotional or physical added value (as fully described later), and, add an irresistible and/or risk free offer to get them to try you.
c) You can create an exaggerated image about the positive benefits of using your product/service. This is the favorite approach of Madison Avenue. ”You’ll defeat the town bully and get the Prom Queen if you eat our pretzels” Yeah right!

For new product/service development- (a non-commodity, i.e. a not yet recognized value) 1) You need to make the big promise of benefits, 2) prove all claims, and, 3) make an irresistible offer wrapped around a power-word rich promotion. These are the basics for success we will cover in this body of work.

Marketing Table of Contents