Your marketing mix cannot be determined until you define
what product, products or service your business will offer. These questions need to be answered.
Why is it needed? What's special about it? Why will potential customers buy from me?
Marketing has three separate parts.
- Marketing Research
- Marketing Plan
- Enacting Plan
In addition your marketing research can be divided into three parts.
- Product and / or service
- Target Market
- Competition
Your research should begin by analyzing the experience you've acquired. This is knowledge obtained
through employment, volunteer work and hobbies. Besides this experience just think about bits and pieces;
knowledge gained by reading, observation and conversation. So when you think about it your work
experience can fit into a number of catergories. However, you're looking for the type of homebased business
that you can develop with a passion.
So for starters write down your experience and list it under three types; craft, professional and service.
As you're doing this, list the number of years of work experience beside the type of work. All of this research
is necessary when you're opening a small business.
Once you've narrowed down your business idea it's time to begin niche marketing.
