Want to make sales? Build a brand with a business marketing plan
In a moment when the economy is coming out of turmoil, it's more important than ever for small business owners to properly promote products and services. Yet the Times Standard reports that many small business owners struggle to understand the distinction between marketing and advertising.
Small business owners might think of advertising as a component of marketing, while marketing - which includes research, media planning, product pricing and more - is a larger process.
The Times Standard quotes marketing consultant and strategist Laura Lake as explaining that marketing is "everything that an organization does to facilitate an exchange between company and consumer."
In order to get the most out of product promotions this year, business owners might benefit from these four tips on building a business marketing plan.
Set annual goals
Economies change and consumers come and go. The same marketing tactics that work one year will likely prove inefficient the next. Entrepreneur.com advises small business owners to set marketing plans to cover one year.