21st Century Marketing Approach

First, just what is Marketing? Marketing can be described as "Management function responsible for developing and maintaining customer relationships through superior value". Let's break that definition down just a little bit more.

"Management Function" requires that short-term tactics are tied directly to the long-term strategic plan. The key point is that there is a plan - short term and long term - and that it is managed. How do the actions that you make today contribute to overall well-being of your organization in the future?

"Customer Relationships" as with any type of relationship it must include the following characteristics: an initial attraction, beneficial for both parties, and most importantly - Trust. Unless you have a Monopoly, your marketing courtship will closely follow the path above. Therefore, you must position your product or service whereby it presents itself handsomely during the courtship.

"Superior Value" what is the perceived value of your product or service. This includes pre-sell, the actual selling process, and post-sell. Most importantly, value is perceived form the eyes of your customer. As with any good relationship, it should be built on a solid foundation and developed with a lasting mind-set approach.

In today's Global Economy, consumers have thousands of potential relationship building opportunities; therefore, it is imperative that you distinguish your product or service from the rest of the pack.

Bill Balou, MBA

By: Escape the Madness Marketing

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Bill Balou, Author of the Happy Place Profits Program. A Beginners Guide to Building a Residual Income. www.happyplaceprofits.com and/or www.happyplaceprofits.blogspot.com