Market penetration has to be the hardest part for any business that is on the rise. Normally, you will encounter a lot of rough sailing in the initial parts of doing business. While you may be equipped with the necessary tools such as advertising and promotions, it would be best to evaluate your tools if they are indeed suitable to the market class you are catering to.
Endorsements from popular personalities is a good way to do it. But also remember that each celebrity has his or her own marketing outlook. While you may be paying these celebrities large sums of talent fees, you should also consider the fact if they are suitable for the product or service they are endorsing. Chemistry between them and the product is needed if you want your advertising campaign to be effective and serve its purpose.
Placement is another point to consider. As far as posters and flyer distribution is concerned, you should identify where you will be placing them. It is not a matter of standing along mall entrances, handing out flyers or posting banners and streamers along the roads. With these practices, you will gain exposure but not interest from your target market. That is a varying factor.
Ideally, all of these things should be contained and stressed in marketing plans. Studies of the proper way to go about marketing a company must be taken up with care and sensitivity to the market that a product is meant for. Failure to do that will mean failure in doing business and eventually place you in the unlikely situation of losses when reporting time comes.
Originally posted on December 3, 2010 @ 2:44 am