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Article Directory - Marketing Mistakes That Will Cripple Your Company!



Mistakes are part of doing business and employees make them daily. Factors such as the size of the business, the number of associates, and a failure of management to review progress within departments. You will have to recognize and address marketing strategies if you are to avoid making the easy mistakes.

Nonexistent Marketing Plan

Entrepreneurs and small business owners seldom put together a marketing plan. Lacking concern over the development of a plan is due the method which small business owners use to fund their business endeavors. More than 50% of small businesses begin on a shoestring budget, and don't seek assistance from outside investors.

Success in any business depends upon a carefully constructed marketing plan. You would not go on a road trip without a map, so why go into business without a plan to guide you on the journey? Going into business is inviting failure and if you simply break the marketing down into its core elements, you will find that you feel more confident about your business and its chances of success.

Ignoring the Market

When, where, what, and who are all good questions to ask yourself. Not assessing the market is a common error. The audience that you are targeting must be attainable. If it is not, then failure awaits.

"Who" refers to the type of customer that purchases the company's products and/or services? This often begins with listing by genders, age groups, ethnic groups, and local establishments.

"Where" is where your prospects are located. This might include the immediate area surrounding your business and also the location of competitor's customers.

"What" is a reference to any potential limits. Location will always be a huge factor. Knowing the location of your competition's customer base is great because then you will know if there are any limitations that need to be addressed.

Products and Services that Interchange

Entrepreneurs are known to go from one business to another without missing a beat. Confusion is sure to follow because no one really knows exactly what kind of products or services the company is actually selling. When you see a business advertising itself as "full service" to its customers, this is generally a warning sign. Interchangeable products and services is great for the bottom line, but the resulting confusion for customers can have disasterous consequences.

Lack of a Business Plan

Marketing 101-"Don't begin a business without a Business Plan!" A business plan built on the promises and actions of others is doomed. The "dream" needs to be real and believable. Each step should be calculated and achieved by the efforts of one person - you. The company needs a foundation built upon the owners experience and knowledge.

Not Responding to Customer Needs

In the fast pace of today's business professional, an immediate response from the provider is expected. A slow response leads only to a loss of business. Take the holidays for example.

The customer has no time to spare. He runs into a department store for a last minute item and finds a line 50 people long.

A. Does he wait patiently in line for his turn? B. Will the manager open up another line?

Naturally the manager should open up another line because most people will never wait that long to buy anything. The manager needs to respond to the needs of the customer and find a way to help people get in and out of the store quickly.

Avoiding common marketing errors is easy once you realize you're committing them. Take a course of action and review your strategies on a monthly basis, at least. Hire a professional business consultant to help you work through the quirks. It's an investment well spent.

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About the author: Vlad Ehrsam writes exclusively for Full Info on Business, it's one of the webs most up to date Business sites, their free newsletter is well worth signing up for too.

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Keywords:
business,accounting,advertising,Management,office,offices,Marketing,income,job,jobs

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