Marketing and promotion strategies

Marketing is the process of getting your business noticed by the people who need or
want your products or services. Many small businesses come up with a fabulous
business idea but then fail to market it successfully.

You need to get out there and spread the word about your products or services to
the right people to build your customer base. Advertising and selling are part of the
process but there is much more involved.

TIP: Use our marketing plan template and guide to create your own plan.

The six ‘Ps’ of marketing

There are generally six key aspects that you need to focus on when marketing your
products or services. These aspects are sometimes referred to as the six ‘Ps’:

 product
 price
 promotion
 place
 people
 processes

Product

Product refers to the goods or services you are offering. You might consider a range
of factors such as packaging, labelling, branding and quality when developing your
product.

TIP: In Australia, there are mandatory standards regarding product

safety and labelling.

Price

Setting a suitable price for your products or services will help you to be profitable and
stay competitive. Start by including all the costs associated with producing and
delivering your products and services, then research your target market to determine
how much they would be willing to pay. If there is a gap you have more work to do –
perhaps reducing your costs or focussing on a different market.

Promotion

Promotion refers to the methods you will use to advertise and sell your products and
services. Promotional methods may include:

 website
 social media
 blogging
 e-newsletters
 networking
 brochures and flyers
 TV, radio or print advertising
 word of mouth
 loyalty and reward programs
  cold calling
 mail-outs and letter drops
 sponsorship
 PR activities such as media releases and events

Place

This aspect of marketing refers to how your customers will be able to purchase your
products or services. Distribution channels may include:

 retailing direct to the public through a store or outlet

 selling goods via wholesalers
 retailing online
 using distributors, consultants or agents to sell your products

When deciding which channel to use, consider your target market and the logistics
involved in getting your products and services to them.

People

You will most likely have to engage with suppliers, distributors, wholesalers,
stakeholders and employees to get your product or services to market. These groups
all form part of your team. You need to ensure they understand the importance of
providing quality products and customer service.

Processes

The right customer service and business processes are essential to support your
marketing goals. They may include procedures for ordering new stock, ensuring
products or services are delivered in a timely manner, providing opportunities for
customers to give feedback and regularly reviewing sales and financial reports.

More information

 Follow our eight step guide to marketing your business.

 Undertake market research.
 Learn more about online marketing strategies.
 Develop a marketing plan, use the guide for assistance.
 For more practical advice and tips, see our Marketing and promotion section
of our blog.