Marketing 101...Back to the Basics

Getting back to the basics and simplifying things is something that can open your mind to new ideas. Thinking too hard can sometimes block creativity. To put it simply, marketing emphasizes the value of the customer to the business, and has two guiding principles:

1. All company policies and activities should be directed toward satisfying customer needs.
2. Profitable sales volume is more important than maximum sales volume.

To best use these principles, a small business should:

• Determine the needs of their customers through market research
• Analyze their competitive advantages to develop a market strategy
• Select specific markets to serve by target marketing
• Determine how to satisfy customer needs by identifying a market mix
• In order to successfully grow your business, you’ll need to attract and then work to retain a large base of satisfied customers. It's that simple.

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