Course: SLF 130 Marketing Practices for the Small Business

Unit 1 Reading

SubTabs

- Unit 1
- Table of Contents (Selected)
- Unit 1 Glossary (Selected)

Marketing Concepts_page 1
Reading adapted from Marketing: Boundless Marketing Open Textbook, Creative Commons Attribution-ShareAlike 3.0 Unported License

www.boundless.com/marketing, CC BY-SA 2.0

 |  | What is Marketing?
When we hear the term MARKETING, we often think of promotional or selling activities.  But marketing refers to much more.The marketing concept is at the heart of a small business.  It is the idea that marketing should cater to the customer needs and wants as opposed to what the company wants.What do businesses do?  Too often the answer to this question is "businesses make money."  But HOW do they do that?

It's simple....they do want customers WANT and NEED them to do (or they go out of business).
"Think like a customer"
~ Paul Gillin

Small business owners have the opportunity to:
- solve customers’ problems,
- provide unique services to make customers’ lives better,
- provide GOODS and/or SERVICES that are OF VALUE to their customer.

AND…they do it in a way in which they can make a profit.

Stop and review:

The marketing concept is the idea that marketing should cater to the customer needs and wants as opposed to what the company wants.