Page 80 - Msingi Afrika Magazine Issue 21

Economy

your store where it is convenient
to catch the eyes of the customer.
Also, there should be high traffic
of the right customers that you are
targeting. All things being equal, you
should be readily accessible that is
your address and all because tangi-
bles do have a big say in the market-
ing spheres. Furthermore, place is
significant for it relates to the kind
of distribution that you will even-
tually opt for as an entrepreneur
whether it will be selective, intensive
or numeric depending on the kind
of products or service you have to
offer your clientele base.

Promotion
This is the ‘P’ that tackles issues of

if you underprice or overprice this ies such as the Standard Association how to remind customers of your
will have dire consequences to your of Zimbabwe as well as other issues business. Pressing the same argu-
business operations. like sustainability making noise in ment, these promotions need to be
the market after all there is nothing done wisely so that they effectively
Product/Service that can stop you from incorporat- work to the entrepreneur’s expec-
Usually an entrepreneur has a prod- ing green entrepreneurship onto tations and benefit. Likewise, as
an entrepreneur you can do sales
uct or service that one is in need of your product. Equally, in the end
introducing in the market. Hence- your product and service must meet promotions, discounts or rebates
forth, that product should serve its the needs of the consumer to such etc. in a bid to increase your sales
purpose to the end consumer. The an extent that it will make their lives volume because at the end of the
day you have to push your products
beauty of entrepreneurship is that as smooth sailing. in the market. All this needs effec-
an entrepreneur you get the oppor-
tunity to tailor-make these products Place tive tactics and strategies through
to the desires of your niche market Nowadays due to the advent of well planned promotions that won’t
that is customization or if you want technology issues of place have drain the business much money. All
in all, it is sage advice as an entre-
to go the extra mile, personalization. been dealt with soundly. This is preneur to familiarize yourself with
Nothing in this world beats tailor because we are living in a global
making a product or service to the village as we are connected by the the traditional four P’s for they will
wishes of the customer. If you use internet. For all intents and purpos- guide you into doing the right thing
this strategy you will never go wrong es, you can choose not to have a in this 21st century. This is the time
to have a good understanding of
although your need to invest a lot of brick and mortar building as you will every business aspect if ever you
time and money in the project be- operate your business online that is
cause it is true that no pain no gain. implementing e-business or rather wish to retain a competitive advan-
Again, product wise they need to be e-commerce. This does tend to save tage over other entrepreneurs always
readily available. Adding to that, vis- money, connect you with the people on the rise to mitigate the day to day
problems of the masses. Notably, do
ibility means a lot in creating brand all over the globe, ensures you are the right thing and heavily involve
awareness in the mind of your ubiquitous and can readily attend
customers. Having said that, other to your customers at the click of a yourself in entrepreneurial market-
pertinent issues related to a product button. To this effect, entrepreneurs ing for this tool is as old as time and
are such as aesthetics and packag- should take advantage of this tech- since then up to now it has never
failed to work. Thus, the power of
ing. As an entrepreneur you should nological God sent blessing. Never- entrepreneurial marketing is undis-
move with the times that is adhering theless, in the case you want to go
to accredited quality certifying bod- the conservative way, you can place putable.

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