A Guide To Marketing Part 1
The Golden Circle and Marketing Mix
This week we will be taking a deep dive into marketing strategies for your small business. In this article, we will start with some of the foundational aspects of your marketing strategy.
- The Golden Circle (Simon Sinek)
- The Marketing Mix
The Golden Circle
The Golden Circle is a concept popularized by Simon Sinek in his book, Start With Why. Simon Sinek is an unshakable optimist who believes in a bright future and our ability to build it together. He discovered remarkable patterns about how the greatest leaders and organizations think, act and communicate.
Simon may be best known for popularizing the concept of WHY in his first TED Talk in 2009. It rose to become the third most watched on TED.com, with over 40 million views and subtitled in 47 languages.
Simon is the author of multiple best-selling books including Start With Why (global bestseller), Leaders Eat Last (New York Times and Wall Street Journal bestseller), Together is Better (New York Times and Wall Street Journal bestseller), Find Your Why and The Infinite Game.
WHY: Your ultimate purpose, your mission as a company, what you want potential customers to know. The best way to inspire potential customers to purchase from you. Should be the foundation of your marketing strategy.
HOW: What sets you apart from your competition? How will you achieve your ultimate goal? What systems have you put in place? What experience can you sell?
WHAT: The physical product or service you are offering
The Marketing Mix
First popularized by Neil Borden in the 1950s, the marketing mix is the foundational building block of your marketing strategy. Using the “Four P” Outline one can cover all the basic aspects of a marketing strategy.
Product: What product or service are you selling? What demand are you filling? Is there a demand for your product or service?
Promotion: How will you convey this value through ads to potential customers?
Price: Must balance between perceived value by the customer and total cost. What are the prices in the marketplace? Where do you want to situate yourself? When and how should you discount?
Place: Where are your potential consumers interacting? When are people online?
Get In Touch:
SHANNON JEAN https://www.linkedin.com/in/shannonjjean
DAVE HAMILTON https://www.linkedin.com/in/davehamilton/
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