| One of the greatest needs of managers of small businesses is to understand and develop marketing programs for their products and services. Small business success is based on the ability to build a growing body of satisfied customers. Modern marketing programs are built around the "marketing concept" and performance, which directs managers to focus their efforts on identifying, satisfying and following up the customer's needs: all at a profit.
Marketing strategy encompasses identifying customer groups (Target Markets), which a small business can serve better than its competitors, and tailoring its product offerings, prices, distribution, promotional efforts and services towards that particular market segment (Managing the Market Mix). Ideally, the strategy should try to address customer needs which currently are not being met in the market place and which represent adequate potential size and profitability. A good strategy implies that a small business cannot be all things to all people and must analyze its market and its own capabilities so as to focus on a target market it can serve best.
The SBDC at Daytona State offers Marketing Matters and E-Commerce workshops throughout the year that help business owners improve their marketing strategy. Check the Calendarto see when the next workshop is scheduled near you. |
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