Entrepreneurs probably know how important it is to implement a viable marketing strategy. Taking such a step is critical to the success of their businesses. Without this plan, they won’t be able to gain a competitive edge. This is obviously the last thing they want. It can give these owners an insight into the purchasing behavior of their target audience. They also come to know the flaws in their pricing policy, distribution, and supply chain. Above all, these proprietors can get a better understanding of their product’s potential. They’ll even get to see how their rivals in the marketplace react. These are essential aspects which these businessmen can’t afford to overlook.
Joe Cianciotto – What do entrepreneurs need to consider when devising a viable marketing strategy?
New York City can boast of many advertising professionals specializing in the area of digital media. However, most of them can’t match the popularity and achievements of Joseph Cianciotto. He is cut above the rest in this profession. He has valuable years of experience in this field under his belt. This visual communication graduate from Carnegie Mellon is currently the executive creative director for Translation. Prior to this, he has held many important posts in some of the prominent advertisement firms. These include Vice-President, chief digital officer, and creative directors. He is also the recipient of many prestigious awards. This is in recognition of his contribution in this field.
Joe Cianciotto admits devising and implement a viable marketing strategy is never an easy task for entrepreneurs. However, if they are successful in this task, it can ensure the growth of their businesses. This is what these owners want at the end of the day. He explains that when formulating such a plan, they need to consider the following 2 important factors:
Why would members of these entrepreneurs’ target audience purchase their products?
This goes beyond these entrepreneurs’ vision and mission statement. The proprietors have first got to understand what makes their products so attractive to their customers. Are these goods convenient for them to use in daily lives or a status symbol? Why is it these individuals prefer to buy what they are selling in the market? After all, there are other businessmen in the market dealing with identical products. Knowing the answers to the above 2 questions can help them formulate their marketing strategy.
Identifying potential competitors and target customers
These entrepreneurs need to be honest with themselves when coming up with a suitable marketing strategy. They’ll know that not everyone in their target market buys their products. These are a select few who won’t think twice about acquiring what these businessmen are selling. They need to identify these individuals and carefully study their purchasing habits. After all, these people are their loyal customers. Moreover, these owners need to envision what their competitors are likely to do to attract them. Only then can these proprietors come with a way to counter this threat.
Joe Cianciotto clarifies devising and implementing effective marketing can work wonders for entrepreneurs. In doing so, they need to keep the above 2 important factors in mind. Only then can these businessmen get the type of results they are looking for.