1. Product – This better be good. Nothing will hurt you more than a product that sucks!2. Price – If it is a niche market product, price high! If it is a mass market product, price low!
3. Place – Make sure what you sell is easily accessible to your clients. Use marketing and distribution channels that suits your business products and services.
4. Promotions – Understand the 5 Marketing Mix for Marketing Communications – Direct Marketing, Sales Force, Advertising, Public Relations & Sales Promotions.
5. People – Hire the best and fire the rest. Never be afraid to get rid of non performers.
6. Process – Always ensure that business systems are in place to ensure consistency of products and services.
7. Provision for customer service – All business is show business. Please ensure that every customer contact point has a clear idea and standards of service provided for the customer.
Source - Millionaire Business School
http://www.millionairebusinessschool.com.my/
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