Ending Soon! Save 33% on All Access

How to Market Anything These tips and tricks will help you become a marketing all-star.

By Brian Tracy

Opinions expressed by Entrepreneur contributors are their own.

"Marketing is the whole business seen from the point of view of its final result, that is, from the customer's point of view. Concern and responsibility for marketing must therefore permeate all areas of the enterprise." -Peter Drucker

The major reason for business success is invariably the ability of an entrepreneur to move his or her product to the customer in an efficient, cost-effective manner. The major reasons for business failure are poor marketing, lack of sales ability and lack of momentum in the sales department. In almost every troubled company I have consulted for, ineffective marketing-leading to poor sales-has been the major problem or cause of slipping revenues and financial problems.

How successful is your marketing plan? To find out, take a look at your marketing mix-especially the four major areas discussed in greater detail below. Whether you are thinking of setting up, starting or expanding your business, or selling any product or service, these four elements should be top-of-mind all the time:

1. The product: Exactly what product or service are you going to sell to this market? Define it in terms of what it does for your customer. How does it help your customer to achieve, avoid or preserve something? You must be clear about the benefit you offer and how the customer's life or work will be improved if he or she buys what you sell.

2. The price: Exactly how much are you going to charge for your product or service, and on what basis? How are you going to price it to sell at retail? How are you going to sell it at wholesale? How are you going to charge for volume discounts? Is your price correct based on your costs and the prices of your competitors?

3. The place: Where are you going to sell this product at this price? Are you going to sell directly from your own company or through wholesalers, retailers, direct mail, catalogs or the Internet?

4. The promotion: Promotion includes every aspect of advertising, brochures, packaging, salespeople and sales methodology. How are you going to promote, advertise and sell this product at this price at this location? What will be the process from the first contact with a prospect through to the completed sale?

Creative marketing comes from continually questioning the existing situation and looking for ways to change this marketing mix-the product, price, place and promotion. Creative marketing often involves adding new products or services or modifying existing ones. It may require changes in pricing, place of sale or promotional methods. Sometimes, marketing requires that you delete existing products or services, sell them at different prices, offer them in different places or promote them differently.

You can change any one of these elements and then test to determine whether this change improves sales or profitability. Sometimes you may have to change several factors at once to achieve a quantum leap upward in sales results. But in any case, your marketing mix should be a dynamic combination of elements that is always changing.

Brian Tracy is the "Success Secrets" coach at Entrepreneur.comand one of America's leading authoritieson entrepreneurial development. He's produced more than 300 audio and video learning programs that cover the entire spectrum of human and corporate performance through his company, Brian Tracy International.

Brian Tracy

Chairman and CEO of Brian Tracy International, Speaker and Author

Brian Tracy is chairman and CEO of Brian Tracy International. He is the leading coach on the topics of leadership, self-esteem, goals and success psychology. Learn more at BrianTracy.com

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business Solutions

This ChatGPT WordPress Plugin Is $50 for Memorial Day

Add ChatGPT on the front end and back end of your business websites.

Making a Change

Broaden Your Horizons by Learning to Play the Piano with Skoove

This AI-powered piano lessons platform is $120 for Memorial Day.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Travel

Gift Business Travel Stories with Autio for $150 Through Memorial Day

This platform features more than 23,000 location-based audio stories, which make for great travel content.

Devices

Keep Business Private with a Second Phone Number for $20

Hushed offers users a virtual number that can take calls and messages privately from their personal number.