Marketing refers to activities a company undertakes to promote the buying or selling of a product or service. Marketing includes advertising, selling, and delivering products to consumers or other businesses.
Marketing can be broken up into four key stages:
Product
Product refers to an item or items the business plans to offer to customers. The product should seek to fulfill an absence in the market, or fulfill consumer demand for a greater amount of a product already available.
Price
Price refers to how much the company will sell the product for. When establishing a price, companies must consider the unit cost price, marketing costs, and distribution expenses.
Place
Place refers to the distribution of the product. Key considerations include whether the company will sell the product through a physical storefront, online, or through both distribution channels.
Promotion
Promotion is the integrated marketing communications campaign.
Other marketing stages can be integrated into your plan.
- Find out who and where your customers are
- Audience engagement
- Social media marketing strategies
- Focus on creating compelling non-musical or product content
- Send your music or product to blogs, YouTubers, reviews, playlists and press outlets
- Create and monetise your own artist website
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