Posts tagged Basics
Marketing 101: Products

Or: Sell it Again, Sell to Someone New, Sell Something New, or All of the Above.

To grow a business, it needs to raise revenue. There are two ways to raise revenues. You have to either sell more things or sell to someone new. I know there are other ways to raise revenues, such as raising prices, but we’ll be focusing on products for this post. You can read more about pricing here.

As a social enterprise, you will have to sell something. Whether you choose to sell physical products, digital products, services or advertising space, you are selling something to someone. You will also either be developing a new product or service, or you will be trying to sell an existing product to more people, or to the same people multiple times.

Let’s consider starting a coffee shop: Hypothetical SocEnt Café.

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Marketing 101: The 4 Ps of Marketing

Over the next couple blog posts, I will be going over the basics of marketing, and how it can be applied by social enterprises and social entrepreneurs. For this series I will be focusing on what you need to get from thinking about starting a social enterprise, to getting your first customers.

When you’re starting out as a new business, many of the decisions you make will affect how you can do marketing in the future. Your choices as you’re starting up will form the associations that people will have with your brand based on what you make, how it’s priced, where they can buy it and how you will let people know about your product or service. (from here on, I’ll be using ‘product’ to refer to both products and services)

These components make up what is traditionally called the 4Ps of marketing.

Product

Price

Place

Promotion

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