Better Business Idea # 24
© 1999 by Michael C. Gray
April 29, 1999
There are times when a business must take bold, massive marketing action.
For example, many new businesses have significant overhead costs for employees, rent and equipment. If sales are built slowly for such a business, the capital of the business may be quickly consumed and the business destroyed.
When a new product is introduced, it is susceptible to having its marketplace stolen by "knockoff" copies introduced soon after by competitors. Unless customers are quickly convinced the original is the preferred choice, the new product could fail.
A more mature business may also find its sales are sagging. It may have become forgotten in the marketplace because of marketing neglect. This type of business can often be revived by administering a shot of adrenaline – blitzkrieg marketing. (Remember when Lee Iacocca revitalized Chrysler?)
Great military strategists have long recognized that highly concentrated massive military campaigns can be highly effective in reducing the time for a conflict and, consequently, reducing the casualties and expense for both sides. General Patton was well known for taking this approach. D-Day was an excellent example as the beginning of the end of the World War II in the European Theater of War. The German military strategy for the conquest of Europe was based on this principle, which was highly effective until they were confronted with the superior industrial capacity of the United States and the debilitating winter of the Russian front.
This same strategy can likewise be applied effectively in business marketing. New businesses can apply bold strategies, such as the delicatessen who gave away free sandwiches to establish a customer base. The campaign can be publicized through the press in newspaper articles and television stories, possibly at no charge. Advertising through direct mail or the media can also be used in implementing the campaign. Today, a web site should be an integral part of the campaign. By using many marketing tools together in a focused effort, the business is established as the market leader.
When the purpose of advertising is to build an image, it can often be a waste of money. But the implementation of a well-designed marketing plan is a necessary part of a business. A marketing plan should not be considered a cost, but an investment in acquiring and keeping customers. A new business must be adequately capitalized to fund this essential investment, and the marketing strategy should be the core of the business plan.
Do you want to be "the only game in town" for your product or service in your niche? Design and implement a blitzkrieg marketing strategy. If you would like support in this effort, please call Mike Gray at (408) 918-3161.
For new articles about how to improve your business, subscribe to our newsletter, Michael Gray, CPA's Tax & Business Insight!
Home Business Building Blog Introduction Seven Habits Business Improvement Book Reviews Need Help? Links