Marketing Strategies to Put Yourself Out of Business

Want to learn how to lose a billion dollars?

Just follow the marketing strategies used by GM, Ford and Daimler Chrysler. Yes, some of the largest corporations in the world are missing some basic tenants of marketing and it's worth taking a look at what they're doing wrong so you don't make the same mistakes. You don't want the following headline written about your company.

"GM Hits Billion Dollar pot hole" - Miami Herald "GM shares fell to a 12 year low." - New York Times

What are some of the most glaring mistakes a handful of car companies are making?

1. Discount Pricing

GM and Ford offer free loans and rebates worth thousands of dollars to prompt people to buy their vehicles. Good idea?

When you need to resort to bribing people to buy your products or services, it's a sign that something is terribly wrong. The idea is to provide value, help your prospects understand the perceived value and charge enough to make a reasonable profit. When you start discounting your product as a means to get people to buy it you've entered an endless downward cycle.

The next time a prospect buys, they'll want an even larger discount and there will always be somebody who will undercut you on price. Eventually you'll end up like GM, losing lots, maybe not billions, but enough to threaten the life of your business.

2. Making Products People Don't Want

According to the New York Times, "General Motors and Ford have swerved off course for a far more basic reason: not enough people like their cars." Whoops!

The objective is to market a product or service people want.

3. Not Paying Attention to What People Want

If you want to make money you'd pay attention to what your prospects want? Right?

In the case of Daimler Chrysler you'd be wrong. At the Detroit Auto Show crowds loved the two-seat 8 foot long "Smart Car". So logically Daimler Chrysler decided not to sell it in the United States despite booming sales in Europe for years. Zap, a Santa Rosa CA firm, saw an opportunity especially with rising gas prices and went direct to the European Daimler dealers to buy the cars. Surprise! Ten thousand U.S. buyers put themselves on a list to order over $55 million worth of cars in just a few months.

Avoid discount pricing, provide products and services your prospects want and you can avoid losing a billion or instead make 55 million. I don't know about you but if I lose ten thousand dollars I get upset and when I make a million in a year I'm pretty happy.

Charlie Cook2005 © In Mind Communications, LLC. All rights reserved.

The author, Charlie Cook, helps service professionals, small business owners and marketing professionals attract more clients and be more successful. Sign up to receive the Free Marketing Plan eBook, '7 Steps to get more clients and grow your business' at http://www.marketingforsuccess.com

---

Business Card Design - How to Stand out and Get Noticed

One of the most powerful, yet over looked weapons in... Read More

Website Promotion Strategies For Targeted Web Site Traffic

If you're looking to drive more targeted traffic to your... Read More

Marketing the Government for Profit

Steps and tips on marketing your business to the government.Fact:... Read More

3 Quick Robotic Online and Offline Marketing Strategies to Help You Work Less and Make More Money

What is Marketing? There are many text book answers to... Read More

Behold the Power of the Tip

You are an expert. You have lots of content -... Read More

Eliminate Your Competitors With 2 Simple Steps

In business, having competitors goes with the territory. There's almost... Read More

If You Can?t Answer This Question Your Business is Doomed!

How do you answer the seemingly easy question, "What do... Read More

The Marketing Funnel: Simple, Effective Marketing Strategy

No matter if you're publishing your first book or producing... Read More

Why Trying to Get the Appointment Can be a Recipe for Dis-Appoinment

Why Trying to "Get the Appointment" Can be a Recipe... Read More

Getting Paid to Promote Yourself

We all know we can pay a magazine or a... Read More

If You Do No Other Preparation

Far too often we see small businesses rush into doing... Read More

Loyalty Cards Systems ? Beware, Some Should Be Avoided

Recently, I discussed a loyalty card system with a vendor... Read More

Modern Marketing With Postcards

Postcards may be one of the best kept secrets of... Read More

High Response Marketing With Low-Cost Postcards

Postcards can drive a huge amount of traffic to your... Read More

Can Message Board Marketing Work For You?

One of the things that makes the Internet fun is... Read More

Have You Tried Cause Marketing?

To help promote your small business or professional practice, consider... Read More

11 Ways to Turnaround a Cash-Strapped Business or Practice

This past weekend I received a disturbing message from a... Read More

Advertising Campaigns That Get Results

"Advertising doesn't work." I hear it from my clients all... Read More

Business Cards that Make Them CALL

How would you use business cards for gift certificates?I asked... Read More

Image is Key to Your Marketing Success

In virtually any business first impressions are lasting impressions. Most... Read More

Read Your Markets Mind - 3 Great Market Research Resources

Starting a new online business, developing a new product, launching... Read More

Uncover Your Hidden Markets

Want a simple, low-cost way to boost your sales? Just... Read More

Service Marketing - A Relationship Building Approach

Can we imagine a place in the world today without... Read More

Neuromarketing: Smart Marketing Or Jedi Mind Control Trick?

In the international bestseller "Blink," Malcolm Gladwell explains why our... Read More

Joint Venture Marketing: What and Why

What is a Joint Venture? A joint venture is an... Read More