Marketing is the action or business of promoting and selling products and services; including market research and advertising.
We divide this definition on 5 segments: · Promotion · Selling · Product/services · Market research · Advertising NOTE PROMOTION VS. ADVERTISING: “Advertising is done to build brand image and increase sales, whereas Promotion is used to push short-term sales. Advertising is one of the elements of promotion while the promotion is the variable of the marketing mix. Advertising has a long term effect but at the same time promotion has short term effects.”
NOTE SELLING: A transaction between the seller and the buyer or buyers (the target market) where the money is exchanged for goods or services. In your case, as you probably know, your buyers the target market are the readers of your genre/niche.
NOTE PRODUCT/SERVICE: Anything made available for consumer use. In your case, a book.
NOTE MARKET RESEARCH: “Market research is the process of determining the viability of a new service or product through research conducted directly with potential customers. Market research allows a company to discover the target market and get opinions and other feedback from consumers about their interest in the product or service.” We learn best through examples.
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EXAMPLE TIME! You wrote a book about yoga. You advertise (build a brand image) yourself through your website/blog (a platform – more about it later) by showing people quotes from your book and videos about you doing yoga, to help them decide that they wish to spend their time with your book (a product) and learn from you. You promote your book in your yoga course to your target audience (your market/niche), and they are inclined to buy it (you get sales).
Written like this, it seems simple, doesn’t it? Well, it is simple! Based on the definition of marketing, we have the 4 Ps and 4 Cs of marketing. They are actually the same, only taken from two approaches Company’s side and Customer’s side. Company’s side: · Product · Place · Price · Promotion Costumer’s side: · Costumer value · Convenience for the customer · Cost to the customer · Communication Marketing on its own is like a network. And as soon as all the wires connect in your brain, you’ll know what to do. We’ll take it step by step with a focus on books.
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