Every company needs a business plan. This plan needs to include a marketing policy and strategy. Marketing principles have been written about for decades, and the concepts still stand the test of time. Using the 7 principles in marketing is essential for success.

1. Product

Do you know and understand your product, do you believe in your product and does it address the needs of the people to whom you are selling? Your product must be something that others want, either in mass production or in a small niche. If you don’t have the right product, nothing else matters.

1. Price

Research your product and understand the true value of what you are selling. Do not just go by what you think it is worth; you are likely to overvalue or undervalue your product. If you charge too much, customers will not buy it and will go elsewhere (there are millions of online sellers). If you don’t charge enough, there will be no profit, so why are you spending your time and energy for nothing?

1. Place

Where are you going to sell? In the modern world, many small businesses are selling online. Even here there are choices of where you are going to sell: Amazon, Walmart, or your own online store are just a few options. For those who are seeking a physical place to sell this could be grocery stores or small mom-and-pop shops. Wherever you decide to sell, it is important that the location is where your target customers are buying.

1. Promotions

How are you advertising? Are there introductory offers or grand opening events? This marketing strategy is what most people think of when it comes to promotions and marketing. In order to sell successfully, people must know about your product.

1. People

This is most commonly tied to customer service. How do people connect with you and your store? When there is an issue or a question, who do they talk to? This is the connection of customers to you and your brand.

1. Process

Think of the worst online shopping experience you had; what went wrong and what frustrated you? Now think of a great online shopping experience; what made it simple, what caught your attention, and at the end was the process easy? When you are planning your business, the process needs to be simple and easy to use. This is from finding your store, finding the product they want, and checking out. Online shopping is supposed to simplify our lives so your store must be simple to use. 

1. Physical Evidence

This is often linked to marketing and promotions. This is about creating a brand, not just a company. 

Any seasoned business owner will tell you that without a marketing strategy following these basic principles, the brand will most likely fail. You need the right product, for the right audience, for the right price, at the right time. Marketing means research. A happy customer will not only come back, but they will also be your brand ambassador and tell everyone about your product. This is the best marketing. 

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