Marketing will play a large role in the success or failure of your small business. Even though it may seem intimidating at times, it really isn’t as hard as one might imagine. The information provided below should help you understand marketing much better.
What are the five marketing concepts? With every small business, there are five marketing concepts that should be followed and adapted to the type of business you are building. With these five concepts, you cannot go wrong, and you can keep hoping for the future of your business.
Production concept—Making your product available to all of your consumers all of the time.
Product concept—Being sure that your product is high quality to the consumer so that will not look elsewhere.
Selling concept—Here you want to sell what your company makes instead of what the market wants.
Marketing concept—Customer first is a good rule to follow with this concept. Focus on your customer and the value of your product for your customer, make improvements if needed.
Societal marketing concept—This strategy should deliver value to consumers in ways such being environmentally safe. Your product under this concept should bring improvement to both your customer and society. Human welfare is much more important than the profits and the wants of society.
What do you mean by marketing? If you don’t tell others about your business, how will they know? Let people know who you are and what you offer, whether it is by word of mouth, social media channels, paper fliers, brochures, or samples of your products or services. That is what marketing is.
What is marketing put simply? Simply put, marketing is the tool you will use to show off your products or services to possible consumers. Another way to look at it is getting the word out on what your planned small business is and what it will mean to the economy, society and consumers.