Marketing is Pervasive
As you read on, you will begin to discover that “marketing” is perhaps not what you imagine it to be to this point. It’s a very different perspective, and course, than is commonly understood. And potentially, very lucrative to your business to do so.
This understanding pervades everything we do here at Chinnici.Consulting. Whether this undergirds our consulting services, or we build this into our website-related work for you, we have a depth of understanding that gives us—and therefore, you—a distinct advantage in your marketplace. All of this expresses in everything we do here.
In the most brief, marketing is the exchange of good and services for cash—think market. In all of the world of transaction possibilities however, studies have shown that marketing breaks down into three basic categories:
- Technologically excellent —the best of. As one example, think of Apple computer; or perhaps, Ruth’s Chris Steakhouse. Your exchange will receive the very best quality that is available, and you will pay a premium for it.
- Operationally excellent —predictable, dependable. This category would include Wal-Mart, or McDonalds. You will get an acceptable product, and you will always know what to expect no matter which location you visit. In this group, these will also often be lowest price available. Not the best of products necessarily, but predictable; and often, the lowest of prices.
- Does it meet my needs? This third group of purchasers is not primarily interested in quality, or in price, but in an emotional connection. Valued as a customer. If we remain with the food example, in the first category, the price will not be low, and the service may even be inconsistent, but the product will be the very best. In the second example, The service is likely to be inconsistent, and the product not of the highest quality; but you know what you will get, and for likely the lowest price available. In this third category, the food may neither be the best nor the cheapest, but the waitress always knows my name.
Don’t judge a category
In all the world of buyers, people gravitate to one of the three categories. I personally switch a bit from category to category, depending on what product I’m seeking (or perhaps even day.) While I like my tech specifically, to be technologically superior, I gravitate to a restaurant where staff is friendly and engaged with me.
But, though McDonalds will likely be one of the last stores I would personally patronize, there is absolutely no question that this franchise has made more millionaire owners than most any other out there. –There is unquestionably a market for it. So, while you may have personal preferences as to your envisioned customer, it may not actually be your ideal customer, based on what you are good at. It begins there: what are your strengths, relative to those three categories above.
Strategy; here’s where it gets real
To prosper in your business, this is the key: For whichever category you choose to pursue, you must be the very best—and at least mediocre in the other two areas. If people are seeking the lowest price, second lowest price doesn’t cut it — all the business will flow to the lowest price. So you must choose a category, and excel in it.
Pick a category: You can’t be all things to all people
Resist the temptation to be all things to all people. Being the very best in any category takes an incredible amount of effort and resources. (And many never get there.) If you think about it for a second, you don’t need to grab the whole market: a third of all the business out there is quite enough. Again, think of the McDonalds example. There are tips and tools to pick your category; and we can help. But in the end, this is your choice:
- Do you want to try and be good in all categories, excelling in none?
- Do you want to give focus to your strength, and gain a full third of all the available business?
And here’s where business gets fun
As you may begin to see, you are really not as close to your competitors as you may believe you are. —Particularly if they include people who don’t understand these principles. You are unique, as is your business. Understand this, and chart your course. Walk this out, and all of your competitors will chase you.
No such discussion would be complete without telling what we can do for you.
- In our general consulting work, these understandings are a part of the presentation and services that we present for you. Whether in Client and Customer Positioning, or Training, or Strategic Planning toward a business or revenue goal, you may expect to see this undergirding everywhere.
- We teach an in-depth marketing course, for those who want to internalize the principles, making you more lithe and responsive in your marketplace, as well as fine-tune your business course—whether for you or for clients of your own. We will periodically teach this course publicly, or we can bring this to your company or organization. See the link for SarasotaMarketingClinic.com for detail on the course offering.
- If you choose this level of website focus, we will incorporate this into what we counsel for you, guiding you to structure your organization or website in such a way that it will first find, then focus on your strength. And then finally, provide you with counsel or website that has traction for reasons that people just can’t put a finger on. See this link for additional website information.