Online Services is the most important aspect of any business. You must give it the attention it deserves if you are to thrive in the long run. However, much as marketing is crucial, some people do not know basic facts about marketing. Here are just five.
1. Failure can occur.
One should expect failure and when it happens should be accepted. A product could fail to take effect in the market. Your strategy may fail to resonate with the consumers. Product or technology may be obsolete. However, instead of fighting to win a battle that is clearly skewed against you should accept the inevitable and move on.
2. Hyped products are no always successful.
Publicity does not necessarily equate to success. There countless products that were highly hyped but never took off.
One is reminded of the hype that went into new companies that promised to make supermarkets obsolete. One was told that you could get all you needed from you house. Despite the press taunting these companies that made their owners paper millionaires and billionaires, they never survived in the long run. Walmart is still standing and going strong.
3. You need huge resources to survive.
Without enough money, your ideas won't take off the ground. You need a lot of resource to market your ideas. It requires money to put all structures in place before you even get the first sale. It requires big bucks to sustain the structure before you make a profit. Some businesses are like the Chinese bamboo. It is planted watered for 4 years without any signs of growth. In the fifth year in grows 90 feet in six weeks.
4. Honesty pays.
Your market will be positive if you admit a flaw in your products. This means being brutally honest with your marketing strategy and goals. Apparently this increases your credibility.
This is one aspect of marketing that is difficult to implement. To accept that you are selling flawed products is counter intuitive. Telling the market so sounds suicidal. However, some companies have done it with great success.
Listerine did it when they and acknowledged that their mouthwash tastes terrible. Avis admitted that they were number two. Volkswagen acknowledged that their car was ugly.
5. The market is unpredictable.
You can't predict the future. The future is always volatile. This means that though you must plan, your plans must be flexible enough to accommodate changes that come along the way.
It is difficult to have long ranges plans that can be implemented without change. The reasons are numerous but the main ones are: you can't know the competitors plans; you can't predict technological changes; you can't predict political changes; you can't stop or control the pace of powerful unexplained trends.
1. Failure can occur.
One should expect failure and when it happens should be accepted. A product could fail to take effect in the market. Your strategy may fail to resonate with the consumers. Product or technology may be obsolete. However, instead of fighting to win a battle that is clearly skewed against you should accept the inevitable and move on.
2. Hyped products are no always successful.
Publicity does not necessarily equate to success. There countless products that were highly hyped but never took off.
One is reminded of the hype that went into new companies that promised to make supermarkets obsolete. One was told that you could get all you needed from you house. Despite the press taunting these companies that made their owners paper millionaires and billionaires, they never survived in the long run. Walmart is still standing and going strong.
3. You need huge resources to survive.
Without enough money, your ideas won't take off the ground. You need a lot of resource to market your ideas. It requires money to put all structures in place before you even get the first sale. It requires big bucks to sustain the structure before you make a profit. Some businesses are like the Chinese bamboo. It is planted watered for 4 years without any signs of growth. In the fifth year in grows 90 feet in six weeks.
4. Honesty pays.
Your market will be positive if you admit a flaw in your products. This means being brutally honest with your marketing strategy and goals. Apparently this increases your credibility.
This is one aspect of marketing that is difficult to implement. To accept that you are selling flawed products is counter intuitive. Telling the market so sounds suicidal. However, some companies have done it with great success.
Listerine did it when they and acknowledged that their mouthwash tastes terrible. Avis admitted that they were number two. Volkswagen acknowledged that their car was ugly.
5. The market is unpredictable.
You can't predict the future. The future is always volatile. This means that though you must plan, your plans must be flexible enough to accommodate changes that come along the way.
It is difficult to have long ranges plans that can be implemented without change. The reasons are numerous but the main ones are: you can't know the competitors plans; you can't predict technological changes; you can't predict political changes; you can't stop or control the pace of powerful unexplained trends.
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