What is Marketing?
Done effectively it can be
a gold mine for your business!
What is marketing? What is a marketing strategy? Many new business owners realize the importance of marketing yet they struggle to answer this question.
When is comes to marketing most small business owners fall into one of two categories. The first believe that marketing is all about selling, promotion and advertising.
The second category feel that it is such an involved, complicated process that they don't want to deal with it. They often feel overwhelmed and mistakenly believe that marketing is something that only very large companies can benefit from or afford.
You must find out what your customers want before deciding on the product or service that you will offer. If you understand what is a marketing plan you will improve your success with customer relationship managment.
Successful business owners realize that terms like marketing swot analysis and business marketing research might be unfamiliar, yet they are important topics when it comes to your business success plan.
New Business Marketing Research
What exactly is involved?
Marketing involves so much more than advertising. Effective marketing focuses on the customer. The purpose of any successful marketing campaign is to;
understand the needs,wants and buying motives of your potential customers
provide a product or service to suit those needs
determine that you can do so profitably
This is achieved by;
collecting information through research
identifying key issues
developing a strategy
Components of a
Business Marketing Research Plan
market research
your product or service
pricing
distribution
advertising
selling
customer relations
branding
Market research is the most important element of the marketing process and forms the basis of your marketing plan. Market research is your starting point. All other decisions are based on the information revealed by your market research. Market research is a vital component of formulating your business plan.
Someone qualified to answer the 'what is marketing' question is
Jenny Hinds.
Jenny has over 20 years experience in Marketing and PR. Through her website
www.my-marketing-team.com
Jenny provides excellent marketing advice for those new to small business. If you follow her tips you can't help but succeed.
Some examples of Global Businesses and how they used market research and niche marketing to increase their market share.
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