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what is business marketing?

I have aspirations to becoming my own boss, owning a lot business. #busniessmen

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Steward "Tony"’s Answer

Find something that people like (not what you like, what they like), want and would pay a fare price for. Go and buy a few of those items and sell them to strangers by painting a picture in their mind that makes them visualize the joy of having their own item in their hands. If they buy, thank them, If they dont, thank them. In each scenario, hand them a business card which clearly has your name, number, email and website (if you have one).

Keep doing this everyday buying more items with your profit (least expense) and track inventory, note mistakes, and study the market, adjust.

Now your in business at the lowest level, but as your vision grows, so does your product which does note have to be a physical item. It could be an idea, investment, insurance, etc.

Get to this point first and if successful, branch it out. It is difficult but very rewarding if it all clicks.

Hi Steward. Could you clarify what part of your answer here addresses business marketing? This is all great advice, I just wanted to make sure the Student can get an idea of the definition of business marketing. Thanks so much! Alexandra Carpenter

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Usman’s Answer

Instead of owning a lot of business, be a master in one line of business. Don't be a Jack of all trade, but master of nothing.

Hi Usman, this doesn't answer the question. Can you give more insight around business marketing? Gurpreet Lally

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Tatiane’s Answer

Business marketing is the set of all marketing actions that are applied in the day to day of a business. It aims to attract new customers and also meet the demands of current customers, their employees and society.

In order for the company's strategies to be designed in order to meet the good practices of business marketing, one must take into consideration what is called the 4 Ps of Marketing: Product, Price, Place and Promotion. Product is what you want to sell; Price is the value for which you want to sell; Praça is the environment where you want to sell (physical store, internet, which location in your city, state or country, is it an attractive business district? Is it within a shopping app?); and Promotion is how you will advertise what you want to sell (the product). Having this well-defined structure, considering the law of supply or demand, that is, if in fact you are selling what people want to buy, you can be successful as the owner of lot businesses.

Tatiane recommends the following next steps:

Take time to study what the current market needs are. What do people need and can't find?
Define which product or products you want to sell and structure the 4 Ps strategy.
Put your strategy into practice, promoting your product in the market and make great deals.

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Mohummed’s Answer

Dear Nathan,

Thats quite an ambitious target and I truly wish you get to achieve it. Any business brings about the charm of being your own boss however, it does have considerable responsibility as well.

Firstly you must have a business idea i.e. a vision. Your plan should revolve around this vision. The vision can be as simple as opening a sandwich business such as that done by Fred De Luca with Subway or it could be as complex as creating the next facebook.

The second element to consider is the financing. You would need an honest partner that understands your vision and appreciates this will take time.