Every bit as important as the product or service you provide is the marketing you will do to promote yourself or your business. Marketing is work designed to get you more work. And where it’s especially important is in helping you to better know your customers and how you can make a better product or service to meet their needs and wants.
Despite the common misnomer, marketing is more than just promotion (although that is a crucial component to making a competitive business or service. Marketing consists of five fundamentals that, when taken together, can help you to make a competitive stance in the marketplace. In this topic area, we’ll explore the fundamentals of marketing (sometimes referred to as the 5 Ps of marketing) to better understand how both we and our customers can benefit from the value we provide. First we’ll explore the Person at the center of our marketing, our customer. Then we’ll look at the Problem they face, the Product (or service) we offer to help them, how we Price for this, how we Position our brand, and how we can Promote the business.