A marketing plan is an organisation of overall marketing strategies. Marketing environment are factors that influences the marketing activities and its functions.
In business, marketing environment and Marketing strategies work together to ensure a successful business.
Have in mind that Marketing environment produces both opportunities and threats. As an entrepreneur, you have to carefully analyze your business environment to easily avoid threats and take advantage of the opportunities. This explain Why every entrepreneur need a good marketing plan.
The two factors that make up the marketing environment are the internal and the external factors. As an entrepreneur,you have control over the internal factors like production place,distribution, promotion, price and information. But have no control over the external factors which include culture, laws of economy, prejudices,government policies.
Factors That Guarantee Successful Marketing Of Your Product.
As an entrepreneur,you should focus on the internal factors and have the external factors at the back of your head. The basic ways to handle the internal factors is to strategize within the context of the marketing mix. If you are able to do this, you are really a Business minded entrepreneur.
The internal factors that make up the marketing environment includes:
- Product
They are the goods and services offered to the customers. Entrepreneurs should adequately address the issue and establish good product quality, colour, size,packaging, texture and fragrance.
- Price
The price you charge your customers for your product should be flexible,affordable, and if possible make discount on large orders.
- Place
Adequately address the method and areas to reach your customers when distributing your goods and services. Include your storage methods and places,transport services, accessibility, and desired stock level.
- Promotion
It is widely known that good business promotion attract good sells. Public relations, free samples,mass media,exhibitions and the internet can be used to promote your products and services.
Conclusion
Good marketing strategies bring about good products marketing which in-turn result to a successful business. To be able to market your product well, you need a good marketing plan. More tips that will help grow your business are coming. Stay loyal to this blog and be guaranteed of quality and helpful tips that will help in building a successful business.
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