Marketing Mistakes Part I

Filed in archive Marketing on May 23, 2008

The Business Coaching Blog has post 2 of 8 common mistakes that are made when it comes to marketing.

© miss_rogue

The first thing the blog talks about is failing to do enough research which is a trap that many fall in to. We think our idea is so great, so wonderful, we believe that everyone is going to be knocking down the door to get our product so we are lax when it comes to doing enough marketing research.

However, it is also important to remember that if you have an concept for something new and different that you may have a difficult time getting an accurate assessment of the product's potential since we still are a touchy-feely type of society (will this change as the next generation who grew up with the internet become major consumers?). The Business Coaching Blog points out about an invention that did very poorly in marketing research but created a whole generation of products and is the forefather of today's iPods, Zunes, and MP3 players-the Walkman.

Next item is failing to create a Unique Selling Proposition. I have mentioned over and over again that you must find your unique niche in the world. One of the reasons that a big retailer like k-mart continues to struggle is that it does not separate itself enough from its competition especially Wal-Mart. While this is only one of many problems facing the giant retailer, not having its own niche is leaving the company extremely vulnerable.

Find your own unique spot in the world.