| As a Start Up Business Consultant, I am often asked | | | | expresses your sole purpose for being in business and |
| the question: "What is marketing and how do I employ | | | | achieving your sales goals. Satisfying customers and |
| the marketing mix in my small business start up | | | | meeting their needs is at the heart of the successful |
| strategy?" In answer to this frequently asked question, | | | | marketing concept.marketing strategy: Your goals for |
| I would like to begin by explaining what marketing is - | | | | satisfying the needs of your target market through the |
| and what it isn't. | | | | planning and implementation of the marketing |
| What is Marketing Anyway? | | | | mix.marketing mix: The combination of your product or |
| To understand marketing, you need to grasp the "big | | | | service, pricing structure, the delivery system for |
| picture" of what marketing really is. Here goes. | | | | getting your product or service into the hands of |
| Marketing encompasses the entire planning process | | | | potential buyers, and the promotional activities required |
| (from conception to delivery) of taking your product, | | | | to satisfy your target.target market: A segment of the |
| service or idea to a targeted audience -- ready, willing | | | | market that a company selects in which to direct its |
| and able to make a buying decision. This exchange | | | | marketing efforts.marketing campaign: A coordinated |
| between buyer and seller satisfies the mutual needs of | | | | plan of action for promoting your product or service to |
| both parties, and therefore defines the ultimate | | | | a targeted market, which ties in all aspects of the |
| purpose and goal of marketing -- your product or | | | | marketing concept, your marketing strategy and |
| service for my hard earned cash. | | | | marketing mix. |
| What is the Marketing Mix? | | | | Employing the Marketing Mix in Your Small Business |
| The combination of your product or service, pricing | | | | Start Up Strategy |
| structure, the delivery system for getting your product | | | | Now that we've successfully answered the "what is |
| or service into the hands of potential buyers, and the | | | | marketing?" question, let's move on to looking at the |
| promotional activities required to satisfy your target | | | | development of a marketing mix, based on your start |
| are essentially the marketing mix. | | | | up's goals and objectives, for satisfying the needs of |
| What Isn't Marketing? | | | | your target market. |
| Now that we've discussed what marketing is, let's take | | | | Employing the marketing mix in your small business |
| a look at what it's NOT. Many of us have heard the | | | | start up strategy requires a recipe of four ingredients, |
| term marketing used to describe a number of activities | | | | which are necessary to satisfy your intended target. |
| related to promoting your small business start up. The | | | | These ingredients are: |
| most common piece of misinformation is, that | | | | (1) your product or service, |
| marketing is advertising or promoting your small | | | | (2) your pricing structure, |
| business start up's products or services. This | | | | (3) your delivery system for getting the product or |
| explanation is far too limiting and does not give you the | | | | service to its intended target; and |
| full picture of what marketing really is. You owe it to | | | | (4) all of the promotional activities involved in attracting |
| yourself to learn all that you can about marketing, | | | | new customers, such as advertising, publicity, sales |
| because every business decision you'll ever make will | | | | promotions and personal selling. |
| have a direct impact on some form of your overall | | | | Coupled together, your target market and marketing |
| marketing activities. | | | | mix are what make up the marketing strategy for |
| Marketing Terms that Every Small Business Start Up | | | | your small business startup. |
| Should Know... | | | | Did You Find This Article Helpful? |
| ...and understand!marketing concept: The business | | | | If so, please post a comment. Your feedback is very |
| philosophy of your company's management team that | | | | important to me! |