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Marketing BasicsTo succeed, entrepreneurs must
attract and retain a growing base of satisfied customers. Marketing programs, though widely varied, are all
aimed at convincing people to try out or keep using particular products or services. Business owners should
carefully plan their marketing strategies and performance to keep their market presence strong. Marketing is based on the importance of customers to a business and has two important principles: · All company policies and activities should be directed toward satisfying customer needs. · Profitable sales volume is more important than maximum sales volume
· 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
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"We now accept the fact that learning is a lifelong process of keeping abreast of change. And the most pressing task is to teach people how to learn." -- Dr. Peter Drucker, Austrian-born American management consultant, educator
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