Turning an idea into a money-making business is not about selling harder, it's about marketing smarter.

Get the marketing mix right

Marketing is simply how you plan and carry out the production, pricing, promotion, and distribution of your goods and services. It's about making your business right for your customers, so:

• you meet their needs
• they know you meet their needs
• they want to buy from you
• they want to keep buying from you.

Get the marketing mix right and your business has a chance to grow. Get it wrong and sooner or later you'll be out of business.

The 5 Ps of marketing

It's all about the 5 Ps of marketing, which are:

• the right product
• the right price
• the right place
• effective promotion
• the right people.

Together, the 5 Ps are the basis of all business marketing activities.

The market plan

Sound marketing and promotional decisions can only be made when you know your customers' wants and needs. Developing a market plan provides you with a roadmap to follow. It lets you focus on your business objectives and ensures you continue to operate within your business's financial boundaries.

This section of the Creative Business Toolbox takes you through the steps to marketing your business. You'll learn about:

• creating a market plan and choosing your marketing strategies
• targeting the right customers
• selling your product or service
• promoting your product or service.