 President's
Corner
I do a lot of writing, talking
and sharing information on
Marketing for the Note Business
because it is what takes up more
than 70% of a note
professional’s time. I was
chatting with a friend the other
day and he asked me why I do not
use the four “P” method of
marketing.
As something I learned in
college, the four “P” method is
incorporated into all of my
marketing I just have not used
that reference in my
communications with people. So
without further ado, if you have
not heard of the marketing mix
method of the four “P’s” here is
a little explanation that may
give you some more insight on
marketing to note holders. The
marketing mix is a business tool
used in marketing and is often
crucial when determining a
product, service or brand's
offer, and is associated with
the four P's: price, product,
promotion, and place.
A prime element of marketing mix
is determining which of the four
P’s warrants what amount of
investment of resources in order
to return maximum contributions
to your note business.
Contributions are measured in
terms of closed transactions,
profits, or other ‘goals’ (ie.
purpose) of the organization.
It has always been my intent to
assist note professionals in the
effective pursuit of building
healthy note businesses by
endeavoring toward standards of
excellence through implementing
sound practices, incorporating
ethical and moral values leading
to profitable operations. To
this end, the four P‘s are and
always have been effectively
incorporated into my note
business marketing plan.
Marketing mix is multifaceted, I
have always said you should have
3-5 lines in the water,
remember? The primary purpose of
marketing mix is to create value
by developing your note
brokering and note buying
services that satisfy note
holders’ needs, wants or
desires. The Product or
service is the creating facet of
the mix. Price is the
method of exchanging offerings
that have value to note holders.
Place is the manner of
delivering the service to the
note holder. Finally,
Promotion is communicating
the value proposition to note
holders.
Remember, Success Demands
Action! Keep on marketing, it’s
going to work! TWITA! |
