Marketing

Marketing is a system of measures included the path of a product or a service from idea to consumer. Traditionally, marketing is considered as consisting of four elements: idea of a product or a service, development of the idea, price setting and distribution, and planning and implementing actions to promote sales. All the four elements are important when carrying out marketing activities.

Product or service. The main factor of success and sales. A product must be useful and attractive for the customer, of good quality, and required for the market. A product or a services has to stand out among other solutions available on the market, and the supplier has to understand and identify his potential customer and take the latter’s needs into account.

Price of a product or a service reflects its value. Price selection depends on the customers as well – you have to take potential customers’ income and possibilities into account. Attention should be drawn to the fact that, irrespective of the price for the services provided, a company has to earn profit, therefore, it is important to determine the cost per service/product including materials, workforce, utility charges and other operating costs.

Distribution/location. Distribution or selection of sales outlets is important in order to achieve your target customers if you do not have your own store. Identify the types of shopping places visited by your customers (shopping centre, specialised shops), what price level shops are most suitable for you, the territory where you want to sell your goods (on a local, national, international scale). If you wish to have your own premises for the provision of services – it is important to understand the environment and select a location where your services would be in greatest demand.

Sales promotion.  Sales can be promoted by activities such as advertising on TV or online, brochures, posters, various campaigns at points of sale, social networks or public places etc. It is important, in addition to attracting new buyers of the product or service, to retain existing clients; in the long term they may become your standing clients that attract new ones from their environment.