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Key Principles of Marketing

Successful marketers know the importance of the 4 P’s of marketing (product, price, place and promotion) in creating a balanced mix and strategic plan for reaching their target audience. But what about the foundation of such marketing? These ingredients and philosophies are essential to creating a sustainable framework for any business to operate, grow and thrive in a crowded and highly competitive marketplace. While core marketing principles can vary by company, here are 5 parts every business should embrace.

Passion

Every brand, business, product and service starts with an idea. A vision. A dream. A small spark that grows into a flame. And what fuels it and keeps it going is the passion of an individual or a team. It’s that type of drive and leadership that makes a business successful. As Steve Jobs put it, “People say you have to have a lot of passion for what you’re doing and it’s totally true. And the reason is because it’s so hard that if you don’t, any rational person would give up. It’s really hard. And you have to do it over a sustained period of time. So if you don’t love it, if you’re not having fun doing it, you don’t really love it, you’re going to give up. And that’s what happens to most people, actually. If you really look at the ones that ended up being “successful” in the eyes of the society and the ones that didn’t, oftentimes it’s the ones [who] were successful [that] loved what they did, so they could persevere when it got really tough.”

Passion is so important in every business. It motivates employees. It creates interest. And it gets customers to fall in love with your brand. Great leaders, whether in business or politics, are the ones that are passionate about their cause, and who can successfully convey that passion to others, in hopes that they too will share their passion. If your passionate about your business you will never work anther day in your life.

Patience.

While everyone likes a good overnight success story, the fact of the matter is that most brands don’t experience that type of growth. Instead, it’s the nose-to-the-grindstone, hard-work-pays-off mentality that helps most businesses ramp up, then stand the test of time. Especially in an economy where consumers have a tighter hold on their purse strings than ever before, businesses need to be patient and smart about their strategy and go-to-market tactics. After all, most businesses would rather have a long successful run, than a short burst and then fade.

The need to generate immediate website traffic is a classic example of a need that many businesses face. Though there are several quick-fix options available to garner this highly coveted traffic (including using black-hat techniques to “trick” major search engines into thinking your site is more relevant than it really is), temporary fixes can often do more harm than good. In fact, black-hat SEO can get you banned from search engines altogether. The smarter strategy for businesses is to invest in key placements in the short-run, and more importantly, an organic search strategy in the long-run, which will help to develop positive page rank. Though organic search takes time, it pays off, just as patience pays off for businesses owners and investors who are strategic about their approach.

Mark Zuckerberg is a key example of a business owner whose patience paid off big. While for years, he had received offer upon offer to go public with Facebook, he refused, instead choosing to wait it out, until Facebook grew into an even more valuable commodity. His patience paid off, and today, Zuckerberg and team are looking to raise $5 billion in one of the largest IPOs in history.

Persistence.

The good things in life are worth working for. But success can only come with persistence, drive and determination. Many entrepreneurs have great ideas, but get a lot of doors slammed in their face before someone actually says “yes”. Milton Hershey, the owner of the Hershey global empire, was fired from his candy job and started 3 unsuccessful candy companies before finally achieving success with a unique recipe that allowed him to fund the Hershey start-up.

Persistence is only possible if you decide (that no matter what), you will move forward and achieve your goal. It may be a tedious and repetitive cycle, which is why you have to put yourself in the right state of mind. Developing good habits that will help you to move toward, and ultimately achieve your end goal is an invaluable business practice.

Perseverance.

Bill has additionally developed and patented several mechanical tools.

Perseverance. While obstacles such as financial hardship, negativity or disinterest, are sometimes out of your control, you can however control how you react to and overcome these challenges. Perseverance is the work ethic (i.e. the blood, sweat and tears) that go into creating something great, in fully realizing and bringing an idea to life.

Competitive sports are similar to businesses in this aspect, as year after year, teams from each sport play with one goal in mind – to be the best. Whether it’s the Superbowl, the World Series or the World Cup, each team perseveres and gives it their all. And along the way, obstacles come up, but the end goal, the master plan, remains the same.

When businesses create their master plans, (in the form of a full-fledged business plans or executive summaries), they identify objectives and assign actions and tactics to help meet that objective. And along the way, as these actions are carried out, situations may arise, but it’s the perseverance and the willingness to adapt to changing circumstances that will ultimately determine success.

Personality.

There’s a lot that can be said for having people skills. In the business world, it’s often not what you know, but who you know. This is true for job seekers and entrepreneurs, as well as those that are established in the industry. Relationship building and networking play a huge role in building successful businesses and brands, and all of that ties back to understanding and capitalizing on your personality strengths.

Personal development, such as your style of speaking, aptitude in presentation and attitude towards others all play a role in how you and your business are perceived. A business owner that is more of an extrovert and enjoys being the center of attention may be attractive to some clients, while he or she may be off-putting to others. On the flip side, a quiet business owner may seem disinterested to some, he may seem like a good listener to others.

In business, and in all relationships, it’s about how we react to situations and communicate with others. It’s about finding the right fit – both personally and professionally. In fact, personality can be considered the most important aspect in business and in life. Great interpersonal skills that are carried by leaders from the top down help to set a positive tone for the rest of the company.

About eVolution brands

eVolution brands provides unique branding services to help new businesses turn a ripple in the marketplace, and generate ripples. For over 20 years, we’ve been providing the knowledge, know-how and smarts to take ideas from concept to creation, from dream to reality. We’ve worked with entrepreneurs all over the world, providing the tools and resources necessary to successfully launch their businesses into a diverse range of industries, using the right business model and marketing mix. We act as a catalyst for our client’s ideas, bringing the best and brightest to life by realizing lifelong passions and interests, and helping to achieve the moment of realization and breakthrough. Contact us today to find out more about our services.