Marketing Myopia and the Limits to Growth

Marketing Myopia and the Limits to Growth

Marketing is one of the most essential elements of business. It is often said that marketing is the “bloodline” of any business – if no one talks about it, then no one will buy your product. For this reason marketing is essential for a successful business. Therefore, if you are running a small business, marketing is certainly something you should consider.

What Does Marketing Actually Entail? 

The basic definition is that marketing refers to the act of creating or presenting your product or service to make sales. Marketing research is the process of looking into potential selling points of a particular product or service and understanding these so that you can present them effectively in front of your targeted customer base. Additionally, marketing research efforts may also involve studying competitor products or services in order to better understand how your product or service performs against similar products or services in the market. Marketing activities may also include advertising or promoting a product or service. A firm may engage in both types of marketing activities in different sectors such as mass media, Internet, fashion, books, and other areas. If you are a business struggling with marketing myopia, your outsourced CMO can usually focus on the following concepts to enhance your efforts. 

Focusing On Specific Keywords

Another aspect of marketing is keyword marketing, which refers to using selected keywords in articles, online content, emails, websites, and other communication channels to drive traffic to a particular site. Keyword marketing strategy is crucial in driving quality traffic to your site, since search engines continually monitor the number of websites that contain specific keywords. Therefore, a wise internet marketing plan includes a high level of keyword optimization to get your site on the first page of search engine results.

The Distribution List

This refers to your list of leads and potential customers. If you are new to marketing, it is not surprising to learn that most marketers make the mistake of believing that once they have a list, they have a marketing plan. Unfortunately, this is where most marketers are wrong. A marketing plan is the skeleton key that allows you to unlock the door of your customers’ hearts. For example, when a consumer searches for a particular product online, he is presented with many choices, some of which are irrelevant.

Therefore, marketers should pay special attention to distribution lists in developing effective marketing strategies. A good distribution list can tell you who your customers are and what their interests are. It is also essential to understand how Internet consumers search for products and services so that you can take advantage of this research to enhance your marketing programs. Marketers should also develop a distribution network that will enable them to reach a wide range of consumers.

Building A Relationship With Consumers

Relationship marketing refers to creating a positive experience for consumers while they purchase a product. In addition to that, marketers should take care to make sure that their distribution networks have a strong presence in certain areas such as cities, neighborhoods, and metropolitan areas. This is because consumers are likely to be receptive to a solid, local relationship rather than a national one.

Developing Products

Product concept development refers to a detailed analysis of a potential product concept and its market potential. This analysis will be used in order to determine the feasibility of a new concept. Marketers should analyze various competing product concepts and identify the strengths and weaknesses of each one.

Marketers should work closely with product concept development specialists to identify the best marketing concept to support a particular business opportunity. They should also monitor the ongoing development of new ideas. If a concept is found to be fundamentally flawed, marketers should immediately withdraw it and seek to develop another one. Marketing myopia can be corrected through frequent evaluations of a concept’s viability. Once marketers overcome marketing myopia, they will be better able to maximize the profits from their online businesses.