Jul 10
20
The Basics of Money-Making Marketing
The word “marketing” essentially comes from the word “Market.” We know that in a market the people who want to purchase products are called buyers and those who have products to sell are called sellers. So how do people know what to sell and how much to sell in a market?
The law of demand and supply is the force that drives the buying and selling dynamics in a market. The buyers demand the products and the seller supplies the required products. Therefore, to earn money, you have to be the seller or supplier of the products that are demanded by the buyers. If nobody wants your stuff, your will be broke!
However, to make more money, you have to be the supplier of products that are highly demanded by buyers. The higher the demand, the higher the sales volume, the more you profit. The products that you are supplying can be in any form. They can be physical items, services rendered, digital products or even information.
Now, to bring in even more money, you would need to the supplier of high-demand products which are hard to find in the market! The rarer your products, the higher the price you can sell them at. Selling these products will allow you to command a higher price premium and thus earn a higher profit.
All suppliers are constantly searching for the optimal price to set for their products in order to maximize their profits. However, if they set it too high, it may discourage some potential buyers from purchasing the products from them. On the other hand, if the price is set too low, then the suppliers will earn less than what they could potentially get. So how does one find out what the optimal price to sell is? The answer is through continual testing.
Therefore, to be successful in marketing, you will need to know what are the products that people want, where to locate these people, how to educate (not sell to) your potential buyers about your products or your affiliates’ products in such a way that the potential buyers feel that they want your products now. And finally you supply them with the products! Next, we shall see how we can apply this method to market on Facebook.
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