There is no question that marketing is essential to a business’s progress and longevity. Numerous marketing principles developed over the years but these days most of the businesses adhere to a customer focus school of thought. In a nutshell, this principle means that the business owner focuses their activities and their products on the demands of the consumers. This consumer-driven method to marketing is often called the SIVA model. It is short for Solution, Promotion, Value, and Access. If a single component in this framework is overlooked or not planned and executed correctly, the company’s wont be able to make the most of their products and promotional efforts.
Solution, the first component mentioned in this marketing principle, points to the consumer’s perception to the relevance of the product in relation to their needs. Tangible products, as in goods and even intangible one, as in services which have no identifiable usefulness to the consuming public are particularly challenging to sell. Take gadgets which have new or pending patents, for instance. Consumers simply would not buy an item if it has no identifiable practical use.
The second component in the framework is Information and this pertains to the how you promote your products. No matter how excellent your offerings are if you do not reach out to your target audience, you simply wont get your projected earnings. With keen competition from business providing similar products, you should strive to be imaginative. One particular smart marketing technique is utilizing custom stadium cups.
These personalized stadium cups can effectively tell people that your company exists if you use them during events which draw in big crowds, just like concerts or a football game. Stadium cups with creative patterns and catchy one-liners are effective tools to market your brand as they are likely to compel people to research more about your company and learn about your offerings. Using custom stadium cups is also cost-effective, with each cup rarely going beyond 50 cents. One more strategy using these personalized stadium cups is to give them as a freebie with some of your products. For example, if you operate a fast food chain, throwing in mood stadium cups for certain meal combinations will likely drive sales up.
Value is not merely about the price tag attached to your product, but the relative worth in terms of quality. Bringing down the cost for your products and services will not always ensure that customers will choose you over your competition. The explanation for this is that the consuming public is quick to adjudge cheap items as being inferior in quality. Hence, to ensure profitability, you should be able to clearly communicate why it is more beneficial to patronize your products.
Accessibility is important for a companys success as well. This does not only pertain to where the products will be sold, but how easily consumers can get them. This idea of accessibility is the reason why a lot of brick-and-mortar stores put up their own websites too.
