Marketing Challenge for Zihuatanejo

by Gringo Viejo @, Kansas, Thursday, August 03, 2017, 09:51 (82 days ago)

First let's define purpose of the marketplace:
To meet the needs and/or wants (real or imagined or created)of the consumer of products and services.

When WalMart invaded the U.S. some businesses tried to compete with WalMart head on. They failed, it couldn't be done.

When I was in the liquidation business, www.quittingbusiness.com, I heard this phrase over and over again, "This town really needs my shoe tore (dress shop, gift shop, etc). A big mistake in thinking. If the town (market) really needed them then they wouldn't be going out of business. They weren't meeting the needs and wants of the marketplace.

Or like a gift shop owner I once heard tell the city council in a small tourist town: "This town has enough gift shops. It doesn't need another one. Stop issuing gift shop business licenses". Needless to say that shop soon closed.

I have seen, over and over again, small retailers who adjust to the 4 Ps of the marketplace and be successful. They didn't go head on against the competition. They adjusted their 4 Ps mix to meet the needs or wants of the market place, real or imagined or created.

What are the 4 Ps? It is what the marketplace wants and what the business offers in terms of Product (service), Place (location), Price and Promotion.

Zihuatanejo businesses as individuals and the community as a whole must approach the marketplace in terms of these Marketing 101 principles if they are to survive and be successful.


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