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WHY ADOPT A MARKETING ORIENTATION

compare and contrast

It’s a known fact that a lot of businesses fail because of lack of a marketing orientation. Some clients, that I have spoken to say that if they have the right products, surely consumers will notice and buy from them. They don’t see the need for marketing. They soon realized after engaging a strategy service with us,  that their assumptions were wrong.  If you don’t develop a marketing orientation in your business you are unlikely to make profit.

MARKET RESEARCH

Research has proven that using a marketing orientation makes a firm more profitable. In a recent study  by the Institute of Management (UK Study), on average companies gain up to 65% profits from their marketing efforts, compared to 25% selling and only 10% from production. What does mean in simple terms? Marketing makes a firm more profitable.

CUSTOMER NEEDS

In Nigeria, we use the term marketing and selling interchangeably, but anyone who attends our High Impact Business Growth workshops will discover that they are not the same. Marketing is not selling. Marketing is simply everything you do to get your prospects to KNOW about your products and services and I mean everything. Selling is the last stage of the marketing process.  And if your marketing efforts are done effectively then selling should be easier because the customer has already been privy to the benefits. (ie. Their customer needs)

THE GLOBAL FACTOR

The biggest factor in your marketing efforts is being sensitive to the environment in which you are doing business. You need to constantly monitor your customer’s attitudes, your competition, changes in society, the economy and changes in law.  You should adapt to meet the changing needs of the market. So that means that if all your potential customers are buying products and services online or via their mobile phones, then you should adapt your strategies to include these big changes.

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As seen in Business Day NewspapersRita Okoye  is the CEO of Majestically Rare. She is an international marketing consultant dedicated to helping SME’s to  grow using effective marketing methods.  She also consults and implements marketing activities and strategic corporate events for clients. She also delivers a highly successful series tagged High Business Growth Workshops and other business tailored workshops aimed at helping SME’s grow their businesses.  With over 20 years in various marketing sectors in London and Lagos, working with some of the best brands in the world, she can help you strategically grow your business for success using effective marketing methods.

Rita can be reached at rita@majesticallyrare.com

 

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Majestically Rare Ltd
Head Office | Suite B2 No3, Military Street, Lagos Island, Lagos

Tel
+234 (0)8068997439
+234 (0)8085867668

Email
info@majesticallyrare.com