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Dream Merchant • 2309 Torrance Blvd. #104, Torrance, CA 90501 (310) 328-1925 email: Jkm316@aol.com

 

Kids Kreative Korner

 

YOUR MARKETING FOCUS: THREE IMPORTANT STEPS

As You Begin to Develop Your Marketing Plan, You Must First 
Understand Three Very Important Areas.

By Bonnie Drew

Earlier this year, we focused on your basic business plan and began setting up your entrepreneurial adventure. Now that your business has been organized, it's time to turn your attention to marketing. How will you promote the product or service that drives your business?

To answer that question, it's helpful to break your marketing program into three steps. Each of these focuses on one of the basic components of good marketing: the customer, the competition, and the marketing methods.

Let's take a look at a brief outline of each component or "step" in your marketing plan. 

THREE STEPS TO SUCCESSFUL MARKETING

1. Think Like Your Customer--Where do your customers live? Where do they shop? Do they have kids? Pets? A pool? What do customers expect from your products or services? What do they need? The more you understand the needs of your customers, the more likely you are to make a sale.

2. Use Competition to Make You Better--Competition inspires entrepreneurs to work harder and be sharper. Instead of being afraid of competition, welcome the challenge and improve your business.

3. Prepare a Plan to Promote Your Product or Service--Good marketing is never haphazard. The right product or service must be presented to the right people, at the right price, at the right place, with the right promotion. All this takes planning.

Now is the time to begin thinking about these marketing elements. In the next issue, we'll begin looking at how to address each of them and how to create a strong marketing plan for your business.

Bonnie Drew is the author of FAST CASH FOR KIDS (2nd edition), published by Career Press (1-800-227-3371). She is also the creator of the KIDS BUSINESS software for young entrepreneurs, available from Homeland Publications (713-332-9764).

Drew is also Editor of YoungBiz online magazine, published by Kid's Way, Inc., a company that helps youth prepare for business and the workplace of the 21st century. For more information, write to Kid's Way at 5589 Peachtree Rd, Chamblee, GA 30341 or call toll free 1-888-KidsWay (1-888-543-7929). YoungBiz magazine can be found at http://www.youngbiz.com

 

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