Profit Making From Business Ideas.

Profiting From Your Money-Making Ideas

This is the machine that drives your business and when used correctly can be the biggest profit- making tool you can find in business. It entails identifying what the consumers want, list them out, investigate and develop the means to meet up with these demands at a profit; then create awareness so people can patronize you. Build your strategy on the four Ps of marketing regarded as:

Product:

What good or service will your business offer? How is that product better than those offered by competitors? Why will people buy/want it?Price: How much can you charge? How do you find the balance between sales volume and price to maximize income?

Promotion:

How will your product or service be positioned in the marketplace? Will your product carry a premium quality image with a price to match? Will it be an inexpensive, no-frills alternative to similar offerings from other businesses? What kinds of advertising and packaging will you use?Place: Which sales channels will you use? Will you sell by telephone or will your product be carried in retail outlets? Which channel will economically reach your market?    

Your designed marketing strategy should summarize and utilize your findings about the key target buyer description, market segments the company will compete in, the unique positioning of the company and its products compared to the competition, the reasons why it is unique or compelling to buyers etc.
    
The following tips can be used to promote your business and increase sales;Give your business a name that can be easily memorized.Turn your business card and invoice or receipt into sales tool.Print stickers and affix to car bumpers, inside and outside surfaces of trains, buses, cars.