Attracting Customers
- What does marketing involve?
- Should I have a Web page?
- How do I obtain a domain name for my business?
- What is my market potential?
- How can I find profiles on typical industry customers?
- How do I find suppliers for my business?
1. What does marketing involve?
Marketing is every contact that you have with your customers. There are four basic aspects of marketing, often called the "four Ps":
- product—the item or service you sell
- price—the amount you charge for your product or service
- promote—the ways you inform your market as to who, what, and where you are
- provide—the channels you use to take the product to the customer
Marketing encompasses much more than just advertising or selling. For example, a major part of marketing includes knowing everything that you can know about your customers: What do they want? What can they afford? What do they think? Your understanding and application of the answers to such questions play a major role in the success or failure of your business.
2. Should I have a Web page?
There are four general reasons to have a Web site:
- to sell products and services
- to give information
- to increase visibility
- to provide additional customer service
First, decide if any of these reasons make sense for you. Selling products and services on the Internet successfully involves having a great product, attracting a targeted market, and/or selling to and satisfying your customers.
3. How do I obtain a domain name for my business?
Start by going to Network Solutions, an online directory of domain names at
http://www.networksolutions.com/. If the name you've chosen is not already registered, you can pay Network
Solutions an annual fee for the rights to use the domain name.
4. What is my market potential?
The principles of determining market share and market potential are the same for all geographic areas. First, determine a customer profile (Who is most likely to buy from me?) and
the geographic size of the market (How many of them are there?). This is the general market potential. Knowing the number and strength of your competitors (How much business can I steal
from them?) will give you the market potential specific to your enterprise.
5. How can I find profiles on typical industry customers?
There are a few places you might try to locate these kinds of statistics:
- Trade Associations: Trade and industry groups often conduct extensive market research and make this research available to members. While they often focus on national or statewide trends, you might find local statistics through a group's local chapter. The SBDC can also provide relevant, up-to-date information on your industry.
- Local Chamber of Commerce: Chambers of commerce also conduct market research. They primarily focus on economic development issues in key industries. An index to the Pennsylvania Chambers of Commerce can be found at http://www.globalindex.com/chamber/pa.shtml.
6. How do I find suppliers for my business?
Contact your local SBDC for information concerning suppliers. Our consultants have information concerning international, governmental, and private suppliers for your business.
Another option is attending trade shows. Trade shows are a great place to meet potential suppliers and wholesalers. One online resource for schedules of trade shows is the Trade Show
News Network at
http://www.tsnn.com/.
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