01 - The Definition of Marketing

Basics of Entrepreneurship Entrepreneur Basic
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Transcript

Hi welcome to small fish we do channel my name is Coach Lee calm today I'm gonna share with you the idea of marketing right let me ask you what what is your definition of marketing right you have you may have very various definition but in my definition I think marketing needs to consist of these two things number one education number two communication, you need to educate What is your marketing message to your target audience and second selecting the right platform to communicate your message. All right, marketing is always about positioning meaning that how you like to position your product and market to a certain group of people because in marketing 101 do not market to everybody when you market to everybody and you market to nobody. So, try to make sure who are you marketing to because in marketing animal, we need to understand number one most important thing is who because by identifying the right target audience, only you able to sell them the right message accordingly.

Second, you need to understand where can I find this group of people. For example, if I want to market, a tuition center to a primary schools to the target audience that I'm having is the parents, not the student himself. So number two question is, where do I find a group of parents that act that I can deliver my marketing message? All right, number three, is what you want to tell this group of parents. So what are your offer, what kind of special ed that you have, you can guarantee that you're giving to your customer. And lastly, only you'll decide on how you want to market meaning that should I use pliers to distribute to the parents when they pick up their kids, or should I want to use social media should I want to talk to a teacher to recommend the fusion center.

So these are the four steps number one identifying who exactly you want, no matter where do you find them? What's going to tell them and lastly, only how you're going to deliver your message. All right? marketing is always about being different from what your competitor is doing. You don't want to do the same thing. So, in some layman, some people like to call it blue ocean strategy.

You want to market to the group of people that are not competing with what you are doing, you want to find a brand new niche market, for example, right. A niche market may be something like this, a square watermelon. Normally we go ahead and buy watermelon, whether in wet market or supermarket, around shape watermelon normally costs a consumer about carrying a square type watermelon imported from Japan cost near to 200 ringgit. So you see there is a very, very big price difference why People want to market and buy a square type watermelon instead of the round type. But when you have a niche market, there's one thing you don't have to do, which is price competition. You don't have to compete in price to what other people are doing.

Because you have a niche people will buy your uniqueness and create your uniqueness in marketing being different. Thank you very much. I will see you on my next video.

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