OUR MOTTO

1.   Introduction to marketing

One of the greatest needs of managers of business is to understand and develop marketing
programs for their products and services. Business success is based on the ability to build a
growing body of satisfied customers. Modern marketing programs are built around the
"marketing concept," which directs managers to focus their efforts on identifying and
satisfying customer needs - at a profit.
Marketing continues to be a mystery . . . to those who create it and to those who sponsor it.
Often, the ad that generates record-breaking volume for a retail store one month is repeated
the following month and bombs. A campaign designed by the best ad agency may elicit a
mediocre response. The same item sells like hotcakes after a 30-word classified ad, with
abominable grammar, appears on page 35 of an all-advertising shopper tossed on the front
stoops of homes during a rainstorm! The mystery eludes solution but demands attention.
Your marketing results can be improved through a better understanding of your customers.
This approach usually is referred to as the marketing concept.
Putting the customer first is probably the most popular phrase used by firms ranging from
giant conglomerates to the corner barber shop, but the sloganizing is often just lip service.
The business continues to operate under the classic approach - "Come buy this great product
we have created or this fantastic service we are offering." The giveaway, of course, is the
word we. In other words, most business activities, including advertising, are dedicated to
solving the firm's problems. Success, however, is more likely if you dedicate your activities
exclusively to solving your customer's problems.
Any marketing program has a better chance of being productive if it is timed, designed and
written to solve a problem for potential customers and is carried out in a way that the
customer understands and trusts. The pages that follow will present the marketing concept of
putting the customer first. Marketing is a very complex subject; it deals with all the steps
between determining customer needs and supplying them at a profit.
The Marketing Concept
The marketing concept rests on the importance of customers to a firm and states that:
·  All company policies and activities should be aimed at satisfying customer needs, and
·  Profitable sales volume is a better company goal than maximum sales volume.
To use the marketing concept, businesses should:
·  Determine the needs of their customers (Market Research);
·  Analyze their competitive advantages (Market Strategy);
·  Select specific markets to serve (Target Marketing), and;
·  Determine how to satisfy those needs (Market Mix).
Market Research
In order to manage the marketing function successfully, good information about the market is
necessary. Frequently, a small market research program, based on a questionnaire given to
present customers and/or prospective customers, can disclose problems and areas of
dissatisfaction that can be easily remedied, or new products or services that could be offered
successfully.
Marketing Strategy
Marketing strategy encompasses identifying customer groups (Target Markets), which a small
business can serve better than its larger competitors, and tailoring its product offerings,
prices, distribution, promotional efforts and services towards that particular market segment
(Managing the Market Mix). A good strategy implies that a business cannot be all things to all
people and must analyze its markets and its own capabilities so as to focus on a target
market it can serve best.
Target Marketing
Owners of small businesses have limited resources to spend on marketing activities.
Concentrating their marketing efforts on one or a few key market segments is the basis of
target marketing. The major ways to segment a market are:
·  Geographical segmentation - developing a loyal group of consumers in the home
geographical territory before expanding into new territories.
·  Product segmentation - extensively promoting existing best-selling products and
services before introducing a lot of new products.
·  Customer segmentation - identifying and promoting to those groups of people most
likely to buy the product. In other words, selling to heavy users before trying to
develop new users.
Managing the Market Mix
There are four key marketing decision areas in a marketing program. They are:
·  Products and Services,
·  Promotion,
·  Distribution, and
·  Pricing.
The marketing mix is used to describe how owner-managers combine these four areas into
an overall marketing program.
Products and Services
Effective product strategies for a business may include concentrating on a narrow product
line, developing a highly specialized product containing an unusual amount of service.
Promotion
This marketing decision area includes advertising, salesmanship and other promotional
activities. In general, high quality salesmanship is a must for small businesses due to their
limited ability to advertise heavily. Good yellow-page advertising is a must for small retailers.
Direct mail is an effective, low-cost medium of advertising available to small businesses.
Price
Determining price levels and/or pricing policies (including credit policy) is the major factor
affecting total revenue. Generally, higher prices mean lower volume and vice-versa, however,
small businesses can often command higher prices due to the personalized service they can
offer.
Distribution
The manufacturer and wholesaler must decide how to distribute their products. Working
through established distributors or manufacturers' agents generally is most feasible for small
manufacturers. retailers should consider cost and traffic flow as two major factors in location
site selection, especially since advertising and rent can be reciprocal. In other words, low-cost, low-traffic location means you must spend more on advertising to build traffic.
Marketing Performance
After marketing program decisions are made, owner-managers need to evaluate how well
decisions have turned out. Standards of performance need to be set up so results can be
evaluated against them. Sound data on industry norms and past performance provide the
basis for comparing against present performance.
Owner-managers should audit their company's performance at least quarterly. The key
questions to ask are:
·  Is the company doing all it can to be customer-orientated?
·  Do the employees make sure the customer's needs are truly satisfied and leave them
with the feeling that they would enjoy coming back?
·  Is it easy for the customer to find what he or she wants and at a competitive price?
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