A Practical Definition Of Marketing
For a Home Based Business

If you search the web or the library, you'll find a wide variety of definitions. In my view, the most useful make a clear that it is not the same as advertising. It's about differentiation and positioning - unique business ideas offering something different, so that you find a profitable home business idea which is perceived as 'special' by potential customers.

Management guru Peter Drucker says that "the aim of marketing is to know and understand the customer so well the product or service fits him and sells itself". Elsewhere it has been described as "the right product, in the right place, at the right time, at the right price".

So let's look at the three key elements:

First, you need to know and understand potential customers - the folk you hope will be buying from you. This requires you to carry out research before starting your business.

Second, based on your research and understanding, you can design a niche product or service that matches the needs of potential customers. It is exactly what they want. It is "the right product, in the right place, at the right time, at the right price".

Third, because of your excellent research and design, your product or service sells itself! Of course, that rarely happens. But you will be much nearer choosing a winning business idea if you understand and put into effect this definition of marketing.

If you make a good job of differentiation and positioning to create unique business ideas you will find the follow on process of advertising and selling very much easier.

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