Which is More Important The Marketing or The Product?

Transcript:

There is an age-old question, which came first, the chicken or the egg, the same conundrum exists in the argument of which is more important, the product or the marketing for the product.

Today. I am going to answer that question. In this video, I’m going to talk about the importance of a good product and effective marketing in business. Stay tuned to learn more.

In this video, I’m going to discuss the importance of both product and marketing in business and explain why you need to focus on both areas if you want to be successful.

Hi, I’m Doug Barra and I’ve been coaching the owners of small local businesses for almost 16 years now.

This puts me in a unique position to be able to work with amazing individuals that take on the most courageous undertaking in the world, in my opinion, being responsible for the livelihood of their team, their family, their team’s family, and the community of people that they serve. I wake up every day, feeling honored and a bit daunted by this.

So I told you that I was going to answer the age-old question of which is more important, the marketing or the product.

The answer is…

Well first, let’s take a moment and look at what is the purpose of a business. Most people will say the purpose of a business is to create value for its customers and to make a profit. Although this is very true in many ways, the real purpose of business is to buy customers and keep them as long as you can.

What?

Yes, you heard me right!

The real purpose of any business is to buy customers and keep them for as long as you can.

You see if you don’t have customers, then you can’t make a profit and you won’t be in business for very long.

So the real purpose of business is to create and keep a customer.

Now that we know what the purpose of business is, let’s look at how product and marketing play a role in achieving this goal.

A product is something that solves a problem or meets a need that your customer has. If you have a great product that meets the needs of your customers, then they are more likely to buy it and continue to buy it from you in the future.

However, just because you have a great product, doesn’t mean that people will buy it.

You still have to get the product in front of the customer. This is where marketing comes in.

Marketing is how you let people know about your product and why they should buy it from you.

You see, without marketing people won’t know about your product and without a great product, people won’t buy it.

So both are equally important if you want to achieve the goal of business, which is to create and keep a customer.

Now that we’ve answered the question of which is more important, the product or marketing, I want to leave you with one final thought.

The most successful businesses are the ones that focus on both the product and the marketing. They understand that they need to have a great product that meets the needs of their customers. And they also need to get the word out about their product so people will buy it.

So if you want to be successful in business, make sure you focus on both the product and the marketing.

Of course, these are not the only things that are important in having a business that buys as many customers as it can and keeps them for as long as it can.

You need to have a team that wants to help the customers get what they need.

You need the cash to run the business and you need the systems to keep it all running smoothly.

Would you like to discover more about this?

Yes. Great!

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