Marketing Fundamentals for any Business Owner

Marketing fundamentals

If you know nothing about marketing, there are some concepts that you may want to understand and that are part of the marketing fundamentals.. These concepts are as valid for Orange County marketing as it is anywhere else in the world and this is why, at Twelve12, we want to explore some of them with you today.

Needs: this might be the first and most important component of our marketing foundation that we should keep in our minds at all times. Customers usually look for a product or service as a result of a need; maybe not all the time, but it is mostly the case. There are many types of needs; some are emotional, others are physical, there are social needs, and some others.  This would be the first impulse that drives a buyer into your store.

Desire: This concept can be confused with a need sometimes, but it is not the same. For example, if we analyze a phone as a product, the need would be the communication and the desire would be certain characteristics and/or brands that are usually influenced by society, culture, and advertising. This is where we create our products or services according to some characteristics and make them more appealing than any other option in the market.

Demand: This is an interesting concept and a very important one. When we need food, we can fulfil this need in many ways, by eating. Most of the time, we desire some specific type of food, let’s say a pizza or a hamburger, which can also be taken care of in a variety of ways, including take out or at a random restaurant with this type of food. The demand is when we can take this desire and focus it in a very specific direction, and this is why you have a favorite pizza place or hamburger restaurant. In some ways, we can say that we will do whatever it takes to bring all those pizza-hungry customers into our restaurant – and not just by chance.

Product or service: Now that you have identified out what your customers are looking for, you will have to design your product or service accordingly and fulfil the needs, desires and create the demand for yours. Is your product or service ready to go? Think about it.

Usability: How satisfied is your customer with your product or service? Can you sell more than one? And if this is not the case, you should look for ways to make your customer so happy that they will create a bigger demand for your product or service and recommend you.

There you have it! Marketing fundamentals that any business owner should know. If you want to learn more about how to apply them for your business, give us a call today at Twelve12 and our Orange County Marketing team will help you find the best option for your company.

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