Marketing Snafus

April 13, 2006

Many of the initial marketing problems experienced by new businesses involve miscalculations in one or more of the basics:

Advertising and promotion must be dynamic and persistent. Effective advertising can be accomplished on a shoe-string budget but it has to be an ongoing effort to really pay off. When business is slow is NOT the time to cut back on promotion.
Do you really know your target buyer?
How about the market category segment you chose?
How did you differentiate your business and position your product?
Packaging can be a key element of early success or failure.
Pricing is often in need of further testing, tweaking, and refining.
Market research may be needed to redefine your strategy and your competition.
Distribution methods may need reevaluation.
Perhaps your business plan was off the mark and needs rethinking. Sometimes it's easy to mistake an idea for an opportunity. If you've targeted the wrong niche or misjudged the market, a new plan will help to clarify a new direction for you.