I posted this on social media sites and thought it was a good mini-post for you too!
This is foundational marketing 101 with a Jesus twist for my Christian business readers! You may not have studied marketing in school but I did in my MBA. They taught us the basics…the 5 P’s of marketing.
Most of us think about promotion when we think about marketing, but marketing is woven throughout the entire tapestry of our business.
Your PRODUCT (or service) begins your marketing adventure. To do it right, we must create products and services that would glorify God. This will surely be the best marketing tool.
How you decide to PRICE your product (service) is a key ingredient to your positioning. Are you a high end Mercedes Benz service? Or are you the Walmart of value?
And we all understand that we need to get the word out about our product. Jesus wanted to get the word out about the Good News of the Gospel. He chose “word of mouth” marketing through his disciples! (PROMOTION) — please share this post if you like it!
PLACE is just as important. Whether it is your bricks and mortar business and you need the best LOCATION, LOCATION, LOCATION or in todays connected world, it may be where you are going to show up on the social media sites. Is it Facebook, Google+ or LinkedIn for your business?
And last but not least,
WHO is your ideal client? Identifying who is the best customer for your products or services is a key element to your marketing plan. If not, you may have all of the right elements to market your business, yet you are simply marketing to the wrong PEOPLE!
The 5 P’s are the basics to marketing. Go through them….are the 5 P’s lined up in your marketing plans?