Marketing entails the exchange of value. It involves a buyer, seller and product (goods, services or ideas) at an agreed exchange. To be able to satisfy the needs and wants of the buyers and sellers, it is imperative that one understands that buyers buy the benefits that a product provides. The benefits may include safety, appeal, performance, and comfort among others. Successful marketing operations render customer satisfaction. They strike a balance between the product, place, promotion, price, customers, competition, and risk management.

Successful marketing strategies involve various elements. Visibility ranks first. Enterprises which invest in visibility are considered serious and are, so to speak, announcing their capacity to perform a good job. If you want to be portrayed as a royal, you must dress like a king. Being visible may be achieved through presence, apparel, packaging and advertisements of visual nature like television, printed materials, billboards and banners. The second element is a permanent state of urgency. An enterprise should take a stance that its competitors are wide-awake, to maintain a competitive edge. A permanent state of urgency also entails efficiency and calls for supervision, monitoring, evaluation and operational research. Third there is need to acquire continuous feedback to serve as a safety valve or audit trail for the whole system.

Inducing a generic effect is the fourth factor. It entails other stakeholders being inspired to copy and apply the example you have set. What may have began as a small idea snowballs into something to reckon with, and with wide ranging generic effects. This translates into reduced costs and effort. Examples of inducing a generic effect include the use of advocacy (Information, Education and Communication), pedagogy, and networking with stakeholders, advertising and personnel relations. Fifth, it is also imperative that a good enterprise develops a mark of identity that distinguishes it from other businesses. This element helps the business get noticed and not to be confused with fakes, copies or clones. It also reduces the hassle the customers would have to go through to easily identify and get what they want. An identification mark should preferably be backed by the force of law.

Sixth, every enterprise must keep profit in view while maintaining efficiency and customer satisfaction. Shareholders will always expect to enhance the worth of their investments. The revenue generated from the operations should always soar above the costs, in order for a reasonable return on investment to be realised. Price is a major compliment of the revenue in any serious organisation. It is advisable (seventh element) that an enterprise maintains moral superiority over its competitors. A well functioning public affairs and personnel relations department and research will deliver this much sought after goodie. It translates into credibility and trust that quality service will be dispensed at a moment’ notice.

Engaging in a successful enterprise calls for internalizing the mission, purpose and objectives of the enterprise. It is at this level of commitment that innovations and creative inventions are elaborated and implemented. The spirit: you either win or your competitors lose! Over to you entrepreneurs!