Tuesday, March 17, 2015

Marketing: The Key to a Successful Business

Creating great products is no longer the way to obtaining successful business. New business owners often say, “My product/service will sell it’s self”, this is no longer the case. Too many businesses fail because of poor marketing.

Apple is one of the most successful technological companies in the industry. They produce what they call “High Quality” products at a “High Quality” product price. However, Apple’s competitor, Microsoft, offers products with much better “specs” than Apple products at a much lower price. How then could Apple be a competitor with an obviously “better” product from Microsoft?

This is where Apple’s genius lies. Apple focuses on what the consumer wants, rather than what the consumer needs. This gives Apple the upper class of technology feel. People want what they do not need and need what they do not want. For example, we need a car that is reliable and safe to drive, but want a car that is fast and exciting. They are both cars but one satisfies a need and the other satisfies a want.

Microsoft is the “need” company. They produce high quality products with the consumers need in mind. Therefore, it is a practical, not too fancy product that will give the consumer exactly what they need and paid for. Microsoft is a computer for productivity and “work.”

Apple is the “want” company. They produce high quality products with the consumers want in mind. Therefore, this machine is not “practical” in a sense because what the consumer really needs is a computer. But what they are getting is more of a piece of art. Apple is a computer for the creative and “fun” consumer, not the stiff business consumer.  

Apple focuses on appeal; they want their consumers to feel a sense of uniqueness or prestige. Since Microsoft obviously is the dominant computer in the business world, Apple focuses on the “personal” computer. Again, they make computers that people want to buy, not computers they need to buy.

Apple’s success is purely because of the marketing genius of Steve Jobs and the rest of the marketing team at Apple. Their products were not the one’s that caused the company to market, but it was their marketing that caused their products to be made.

Produce products and services that the market wants or will want and that product or service will surely provide you with a successful return. Do your research into what market you wish to sell to and develop a product or service that will enhance that market. We are no longer in a society where products create markets; we are now in a society where markets create products.