Four Approaches to Successful Marketing

THERE ARE four ways that you can approach your market with your products and services.

Creating Utility

The first is by creating utility, usefulness, and by satisfying the needs of your customers to achieve a specific result. This approach requires that you offer customers something they need and can use to accomplish their other goals. A perfect example is a shovel or a truck, each of which has utility value, but maybe not the end that the customer has in mind. You’ve heard it said that “people don’t buy drills; they buy quarter-inch holes.”

An example of a new industry that was built on utility value or needs is FedEx. Years before Apple created entirely new industries for the iPod, iPhone, and iPad, ...

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