There is no marketing without the “market”
When most people think about “marketing,” their first thoughts usually fall toward advertising. Advertising includes carefully designed logos and craftily created messages sent out by a company to prospective customers, such as the words on a cereal box or website.
These are indeed part of marketing, but only a tiny portion of the whole topic. The research done on those potential customers is also part of marketing. Same with the opportunity sizing and pricing decisions. Even the design of a product or service.
In short, marketing is understanding the potential market for your product, including understanding who the customers are, how they will hear about and buy your product, what benefits will entice them to buy, what features they need, and what words and images will achieve those sales. Marketing is understanding the cost and time involved in the sales process, from initial contact with a customer to getting their money (a.k.a. “closing a sale”).
If all that seems to you to be most of a business plan, then you are correct. If you do not yet have all this planned out, then start, The Next Step: Guiding you from idea to startup.
Note: This is not the first book in the series
For those of you who have not yet created a business plan, or who want to ensure you have thought through all the important parts of your plan, start with companion book, The Next Step: Guiding you from idea to startup.