Examples of marketing objectives include: to attract more customers, boost sales, to highlight new products, better coverage and display of products, etc.

The design of marketing strategies is a function of marketing. To design strategies, first, we analyze our target for that based on this analysis, we can devise strategies that take care of their needs or wishes, or take advantage of its characteristics or customs.

But in designing marketing strategies, we must also take into account competition (for example, develop strategies that capitalize on their weaknesses, or based on strategies that are working well), and other factors such as our ability and our investment.

For better management of marketing strategies, they are often divided or classified into strategies to 4 aspects or elements of a business: strategies for product for the price, the place (or distribution) and promotion strategies (or communication). Set of elements known as the 4 Ps or the mixture (or Mix) marketing (or marketing).

Let’s see some examples of marketing strategies we can apply to each element that makes up the Marketing Mix:

Strategies for product

The product is good or service we offer or sell to consumers. Some strategies that we can design, related to the product are:

* Add new features to the product, for example, giving further improvements, new utilities, new features, new uses.
* Include new features to the product; for example, give a new package, a new design, new colors, and new logo.
* Launch a new product line, for example, if our products are jeans for women, we can choose to launch a line of shoes for women.
* Expanding our product line, for example, increasing the menu of our restaurant, or take a new kind of shampoo for other types of hair.
* Launch a new brand (no need to remove from the market we already have), for example, a new brand dedicated to other markets, for example, a higher purchasing power.
* Include new customer services that they provide customers with greater enjoyment of the product, for example, include delivery, installation service, new securities, new credit facilities, further advice on the purchase.

Strategies for Price

The price is the monetary value we place upon our products offer to consumers. Some strategies that we can design, related to price are:

* To launch a new product with a low price, so that, thus we can achieve rapid penetration, fast host, or we can do it quickly known.
* To launch a new product with a high price for that, thus we can take advantage of purchases made as a result of novelty.
* To launch a new product with a high price for that, thus we can create a feeling of quality.
* Reduce the price of a product, so that, thus we can attract a larger clientele.
* Reduce prices below the competition, so that, thus we can block it and beat the market.

Strategies for the position or distribution

The Square or distribution is the selection of sites or outlets where they sell or offer our products to consumers, and to determine how the products will be transported to these locations or outlets. Some strategies that we can apply, related to the square or distribution are:

* Offer our products via Internet, phone calls, mailings, view home.
* Make use of intermediaries and thus greater coverage of our product, or increase our points of sales.
* Find our products in all retail outlets and have gotten (intensive distribution strategy).
* Only place our products in retail outlets that are convenient for the type of product we sell (selective distribution strategy).
* Find our products only at a single point of sale that is exclusive (exclusive distribution strategy).

Strategies for the promotion or communication

The promotion is to communicate, inform, raise awareness or recall the existence of a product to consumers and persuades encourage or induce the purchase or acquisition. Some strategies that we can apply, related to the promotion are:

* Create new offerings such as 2 x1, or you can purchase a second product at half price for the purchase of the former.
* Offer coupons or discounts.
* Give gifts on the purchase of certain products.
* Offer quantity discounts or seasonal discounts.
* Create drawings or contests among our customers.
* Placing advertisements in newspapers, magazines or the Internet.
* Create traditional or electronic newsletters.
* Participate in fairs.
* Create jobs for tasting.
* Create activities and events.
* Sponsor someone, some institution or another company.
* Place advertisements on company vehicles, or vehicles of public transport.
* Create posters, billboards, leaflets, panels, brochures and advertising calendars.

Doubt and insecurity are often bad company, but there are smart ways to ensure your business carried downwind and knowing your market.

Today I share 5 tips to make a market study in a practical, simple and with very little investment that will help you take steps safer.

What is market research?

It can be summarized as a method or a series of techniques that allow you to discover, visualize and analyze the business potential you will have with your business or product.

A market study effectively can reveal important aspects you should consider in your business plan and that at first sight sometimes do not quite consider.

Why should a market study?

For many reasons. Suppose you want to sell tires for bicycles. Where is your market? Who are your customers? Will provide a venue for heavy transport trucks? Do anything to offer housewives? o Maybe a store would open near a highway where it is dangerous to travel by bike? Of course not! Of course, this approach is obvious, but aims to illustrate the importance of effectively locate and identify what and where your potential market.

The reason why many businesses fail is because they have a bad product or because the business itself is bad. Many businesses simply because they began badly ends badly. Make a market survey may be more simple and affordable than you think and do is a job well worth it:

1. Make a personal tour through the area. The first council recommended to start a travel market research is the area where you plan to personally locate your business. On this tour seeks to identify: businesses similar to yours that already exist on the perimeter or businesses that offer complementary services. Analyze your location and your schedule. Look how many people attend and try to guess if their clients are satisfied or dissatisfied. In short, a tour of the area will reveal important information and ideas for your project that may not have considered.
2. Make polls. Prepare a survey that allows you to detect and measure the demand for your product or service in the area where are you going to locate you. The survey should be short, concise and questions should be raised so as to reveal the interest of the people. Remember that people’s time is important so that your survey should be no more than about 10 to 15 questions can be answered in a couple of minutes (maximum). It is also recommended that you avoid embarrassing questions, embarrassing or ask your data private respondents, which could result in a rejection with consequent negative effects. Select a reasonable sample that allows you to measure public opinion significantly.
3. Use an undercover customer. You can talk to a friend, partner or associate to help you do the research work presented in a disguised form in the premises of your competitors like a customer. The objective of this research is to: prices of services or products, service hours, customer service quality, value-added aspects, product quality and other important element that you should know before launching your own business. This type of strategy provides excellent results and is usually called Mystery Shopping.
4. Make calls for information. Another interesting way to gather information is by calling your competitors. With one call you can get much important information as we have mentioned and in addition you will measure the level of effectiveness of its sales consultants. Remember that the quality of your sales force is very important for success in promoting a product.
5. Analyzes their advertising resources. Search and apply all advertising material related to products and services offered by your potential competitors, newspaper ads, brochures, catalogs, website and if you can analyze the presentation of their products.

Overall basic market research like this will help you find a lot of information that will be useful to determine if your business strategy is suitable or if you need to make some important adjustments. Additionally, you will determine with greater impact demand and possible acceptance of your business or product.

And the best, as you can see is that you need not invest a large amount of resources to conduct your own market research. Any suggestions or personal experience you can contribute?

• Accounting – Expert bookkeepers can help to smooth out your purchases, tax time, and payroll issues. Smart software can be used in conjunction with those systems to keep your human resources at peak performance. Set up business processes and your office will run like clockwork.

• Office Management – You’ll want someone around to manage the office and stock necessary supplies. You can automate some of the office functions, like shipping, by doing online shipping orders and tracking.

• Customer Service – Having someone around to answer the phones, take orders, and greet customers is important. You can automate much of the customer service functions by putting up a website with a help area with Frequently Asked Questions (FAQs). Direct the people to the website where they can locate their own information, from where you are located to numbers to call should they need assistance.

• Lawyers – Legal counsel is important from when you start a business to the very end. They can help incorporate you correctly, and advise you on any legal issues that arise in the course of operations. You don’t necessarily have to have your own lawyer, but you should join a plan that allows you to regularly contact lawyers, should you need answers to legal questions.

At first, you should ask yourself what would I like this business to go? Where would be the business afterward a year of operations? Later on five years to twenty years? Would be I ultimately enlarge its operations and open new localizations?

In an years where entropy technology plays a critical role in sharply competing over customer patronize, it’s of furthermost importance to build a sound and scalable IT infrastructure. Although this is not the be-all and end-all of a business development predictability, it’s still one basic challenge that needs to be covered by budding entrepreneurs.
For example, a lot of small- and medium-scaled companies think that having the decent business education is adequate to succeed and hence, set small effort, if at completely, in assembling their business operations’ software system needs. Such as impermanent solutions can be cause damage than benefit to the business as the rapidly expanding nature of the operations leave require advanced data processor software in the long-term, on accounting as one concrete case.