Basic Marketing Concepts to Help with Promoting Your Business or Service

It’s easy to get lost in the mumbo jumbo of complex marketing strategies and stylized sales techniques. Sometimes you might feel like you need an advanced degree in Physics just to understand the lingo. If you’re up to your neck in fancy phrases and detailed plans, you might want a down-and-dirty rundown of basic marketing concepts. Let’s start with the question: What exactly does marketing involve?

There are four basic aspects of marketing that are sometimes referred to as the four Ps:

Product: The item or service you sell.
Price: The amount you charge for your product or service.
Promote: The ways you inform your market as to who, what, and where you are.
Provide: The channels you use to take the product to the customer.

Being able to address each of these four areas with all your promotional efforts is key.

Marketing your product involves much more that just advertising or selling. A major aspect of marketing is the art of researching your customers and finding out what they want, what they can afford, and what they think. Understanding your customers and their needs can be the key to whether your business will succeed or fail.

If you can focus on these core ideas when developing a marketing strategy or business plan for your business, you will address the main areas that can keep your business moving forward. Once you’ve got a good handle on the basics, you can incorporate some of the more detailed or complex marketing ideas. Until then, keeping it simple can sometimes be the best approach.