Almost all of us confuse marketing with advertising. We immediately think of the great advertising wars of Pepsi vs. Coke or we think of Maruti Vs Hyundai and think of replicating it in a lower scale for our business.
Sometimes we look at how our bigger competitors are going about it. If they have 20 sales representatives all with fancy management degrees, we appoint 2 representatives with fancy degrees.
From experience we realize it doesn’t work. We conclude that we are throwing good money after the bad. Actually it is mental laziness, we are not thinking through the whole process. For us marketing is throwing shit at the ceiling and hoping all of them will stick.
There are hundred and one definitions for marketing. But as a small business owner none of them suits us. We have an excellent product in hand and it’s accepted, (Otherwise we wouldn’t have lasted so many years), then why is it not taking off?
In our case we have a product or service in our hand. How do we identify and communicate the value of our products to new audiences or prospects?
As far as we are concerned marketing is like reverse engineering, where you dismantle a finished product to know how it works.
This is where a bit of studying the market will help. We are already aware of the market; we know our price points, what our competitors are doing, what are the new products ET al. But do we know where the market is heading in say two years hence?
Understand where the market is heading and then devise ways to get ahead of the market. Let’s stop this follow the leader. It’s much more rewarding and economical to lead than to follow.
This is what marketing is for small business owners.
