BLOG POST 2: HOW TO BE A SUCCESSFUL MARKETER

Welcome back! In this post I will be giving you some tips on how to become a better marketer. 

organizational strategies

There are so many ways to becoming a better marketer, but the first thing you should do is create a good organizational strategy. With a strong organization strategy you are more likely to sell your product. 

To start you need to develop your organizational foundation, which is why you're marketing the product or service you are trying to sell. What are your core values? What vision do you have for this product? 

Once you can answer these questions you can move onto developing your organizational direction. This is what you are marketing. What are your long-term goals for this product or service? What are your short-term goals? In this step you should also decide what kind of business you want to be. 

When you add your organizational foundation to your organizational direction you should have a strong organizational strategy. This is how you will market your product. You need to offer your product or service to the community and convey to them your ideas on how it will be successful. On a business level you need to be functional as a company, and decide who has what job in the marketing process. Without marketing, your product or service will not sell.

business portfolio analysis

Before you market anything about your product or service, you must decide where you want it to go in terms of your market share. Below is a graph that describes the four areas of the possible market growth-market share relationships.

www.marketing91.com

To be a STAR:

• you have a high market growth rate and a high market share
• you have revenue that is being produced

To be a QUESTION MARK:

• you have a low market share, but a high market growth rate
• you invest a lot of money into your product or services by doing a lot of research on who you want your target market to be

To be a CASH COW:

• you have a high market share, but a low market growth rate
• you are already established in the market
• there is still a market for your product, meaning there are still people will to buy it

To be a DOG:

• you have a low market share and a low market growth rate
• you have to see what your weaknesses are
• do you still want to keep investing in this product???

diversification analysis

A diversification analysis lets a company know how diverse they make their ideas and products. 

http://www.sqaki.com/12/Ansoffs-Product-Market-Matrix/screenshot.gif

MARKET PENETRATION: existing products in an existing market

PRODUCT DEVELOPMENT: new products in existing markets

MARKET DEVELOPMENT: existing products in new markets

DIVERSIFICATION: new products in new markets

S.W.O.T.

A S.W.O.T analysis is a simple analysis of a company to see what its Strengths, Weaknesses, Opportunities, and Threats are. 

lerablog.org

In class we did a S.W.O.T. analysis for my school, St. Michael's College.

STRENGTHS:

• good variety of majors and a liberal arts school
• there's a good study abroad program
• the location, Burlington, VT, is a big part of why a lot of students choose this school
• small school so every student has a personal relationship with their professors.

WEAKNESSES:

• dining Hall
• expensive
• housing

OPPORTUNITIES:

• a lot of possibilities for expanding
• you are able to create your own major
• expansion on graduate programs

THREATS:

• competition in area, like UVM, and Champlain College

Thanks again for reading! Until next time...