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Friday, 21 November 2008
 
 
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10 Truths of Business You Must Never Forget PDF Print E-mail
1. The market is constantly changing.
2. People forget fast.
3. Your competition isn't quitting.
4. Marketing strengthens your identity.
5. Marketing is essential to survival and growth.
6. Marketing enables you to hold on to your customers.
7. Marketing maintains morale .
8. Marketing gives you an advantage over competitors who have ceased marketing.
9. Marketing allows your business to continue operating.
10. You have invested money that you stand to lose.


1. The market is constantly changing.
New families, new prospects, new lifestyles change the marketplace. Nearly one-third of the people in America will move this year. Nearly five million Americans will get married. When you stop marketing and advertising, you miss evolving opportunities and stop being part of the process. You are not on the bus. You are not in the game.

2. People forget fast.
Remember, they're bombarded with tons of messages (an estimated 2700) daily. The following experiment, proved the need for consistency in marketing. A company ran advertising once a week for thirteen weeks. After that period, 63% of the people surveyed remembered the advertising. One month later, 32% recalled it. Two weeks after that, 21% remembered it. That means 79% forgot it.

3. Your competition isn't quitting.
People will spend money to make purchases, and if you do not make them aware that you are selling something, they'll spend their money elsewhere.

4. Marketing strengthens your identity.
When you quit marketing, you short-change your reputation, reliability, and confidence people have in you. When economic conditions turn sour, smart companies continue to market and advertise. The bond of communication is too precious to break capriciously.

5. Marketing is essential to survival and growth.
With very few exceptions, people won't know you're there if you don't get the word out. And, when you cease marketing, you're on the path to nonexistence. Just as you can't start a business without marketing, you can't maintain one without it.

6. Marketing enables you to hold on to your customers.
Many enterprises survive on repeat and referral business. Old customers are key to both. When old customers don't hear from you or about you, they tend to forget you.

7. Marketing maintains morale.
Your own moral is improved when you see your marketing at work, especially when you see that it does, indeed, work. Your employees' morale is similarly uplifted. And cutting out marketing seems a signal of failure to those who actively follow your advertising. That won't be many people, but it will be some.

8. Marketing gives you an advantage over competitors who have ceased marketing.
A troubled economy can be a superb advantage to a marketing-minded entrepreneur. It forces some competitors to stop marketing-giving you a chance to pull ahead of them and attract some of their customers. In all ugly economic situations, there are some winners and losers.

9. Marketing allows your business to continue operating.
You still have overhead. Marketing creates the air overhead breathes.

10. You have invested money that you stand to lose.
If you quit marketing, all of the money you spent previously to market your company becomes lost as the customer awareness it produced slowly dwindles away. Unless you are planning to go out of business, it is rarely a good idea to cease marketing completely.



Note: Samantha Rufo

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