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MARKETING CONCEPT FOR SMALL BUSINESS

BASIC CONCEPTS

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The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than their competitors. Today most firms have adopted the marketing concept, but this has not always been the case. Sometimes finding the right marketing mix could be tasking for most start-ups or smaller businesses thus, the need to adopt a marketing concept.

It is very important small businesses get the proper marketing strategy in place so that they can at least get a reasonable share of the whole market while competing with the bigger firms. Marketing is very pivotal and should make a huge part of the company’s strategic plan. For smaller business, you need not have a very complicating marketing strategy, but a simple and effective one so as to drive the business to achieving it set goals.

We will be looking at some of those marketing concept that have worked and are still working.

 

Marketing concept to use

1. Marketing concept starts with having a plan:

Everything most definitely will start with planning. No matter how good your strategies are, you must plan how best to execute them. You have to map out certain keynotes to use that will give you the best result in the long run.

2. BE CONSISTENT:

Your marketing concepts must be consistent with the overall organizational ideology of the company. Also, whatever market strategy chosen, must be judiciously followed. If you have to alter anything, then a more effective one should be employed.

3. GET THE BEST MARKETING MIX FOR YOUR BUSINESS:

In marketing, there is a mix usually applied. They include; People, place, product and price. You have to get the best mix for you business to apply your needed target. Getting the right people in terms of employees and customer is very key to the business success. Asides the people, you need to get the right location for your business, putting certain factors into consideration like proximity to the market, transportation network and other key factor to having a good location. You also have to get the best product and at the right price. All this put together will give you the perfect mix for your business.

4. HAVE A TARGET MARKET:

It is very important to know the market you are going to be catered to. You should try and get a target market, so you can strive to dominate that particular market. Targeting a particular part of the market makes it easy to focus, once the target has been fixed, all you do is making sure all efforts are channeled toward satisfying them in the best way possible. No one can have the entire market to himself, so carving out a niche for yourself will go a long way to improve your marketability.

5. CREATE A BRAND:

You have to create an identity for yourself that will last in the hearts of your customers. A brand will give your business it needed uniqueness and make you stand out among your rivals and competitors. A brand helps your customers understand what you stand for and as such you have to make it a great one.

Read also: How apple built a trillion dollar brand

6. GO DIGITAL:

The power of the e-market cannot be overemphasized. The online market has become so dynamic and also a great tool for build your business. You can only imagine the traffic on the internet space, so putting this factor to good effect will do a long way to boost your business beyond limits you never imagined. Having a website, making good use of social media marketing are awesome tools for your business growth

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