Marketing Basics
The Basics to Effective Small Business Marketing
As Central Connecticut State University’s marketing department chair Dwight Scherban puts it, “Marketing is to business what an engine is to a car.” This idea is true. Marketing is the “lifeblood” of every organisation and business, regardless of its size and the industry it belongs. Marketing is especially important for small businesses. It is its driver toward growth and success. Hence, it is important for every independent entrepreneur and small business to understand and learn by heart the basics of small of business marketing.
clear marketing and sales plan
These marketing basics are the following:
- Determination of customer needs through a market research.
- Development of a cost-effective market strategy by analysing your company’s competitive advantage.
- Selection of a target market for your products or service.
- Creation of an effective marketing program that uses the four market mix, i.e. pricing, products/service, promotion and distribution.