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Marketing Myths
Marketing is the process of getting your product or service out
there and getting your goods or services to be known by the general
public. But how does marketing work? Sometimes people base their
marketing decisions on myths and only wind up frustrated in the
end. Here is a breakdown of a few of these myths:
Myth #1
The fact that people assume that because they don’t watch certain TV
shows, like a certain radio station or dislike a type of music that
others won’t or don’t as well. So when it comes to the media and
marketing, the key is to find out what each one’s target group is.
Myth #2
The reverse of myth number one can also be true. Saying since I
don’t watch XYZ television channel, no one else does, which is also not
true either. This sort of statement is based on certain notions that
everything is the same. Since your business is not like any other, why
should its buying public be?
Myth #3
This one deals with stereotypes that everyone has, you know those
broad statements that are not necessarily true at all. Statements like
‘Women don’t buy tools/ Men don’t go grocery shopping” are just a
sample of these. If you are in business, you need to know the
interests, hobbies, their likes and dislikes. This is called
‘physcographics’ and can make all the difference in the world. By doing
this, it will show the differences between your customers and then you
will not lump them all together in one group.
Myth #4
When the business is suffering, what is the first thing to
suffer? Usually, it is the advertising budget, right? But in reality,
that is the worst thing to get rid of. Advertising is what causes your
business to grow and by cutting that off, well if you aren’t around,
people start to forget about you. Remember, familiarity breeds
fondness, not contempt.
Myth #5
Have you done your homework? If you don’t know anything about your
target audience, now is not the time to be guessing. Yes, market
research may cost a bit of money, but so will placing ads that don’t
work.
If you are not careful, not doing marketing research for your
company can cause more harm than good and cost you money in the long
run.
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