What is Marketing?
Marketing is the process of getting and keeping customers. Without customers, a business is out of business. Marketing is the single most important activity in any business, including yours!
According to the CIM, marketing is “the management process responsible for identifying, anticipating and satisfying customer requirements profitably”
In everyday speak, it is all about ensuring your company identifies who your customers are, where are they, what they need, when do they need it and how much will they pay.
Where does Marketing fit into your business?
Marketing can either be dealt with by a marketing department or it can be the responsibility of the business owner in cases of small businesses.
Given that fulfilling the customer’s needs is the key to business success, how do businesses achieve this? Marketing!
Meeting customer satisfaction and objectives can be met using the Marketing Mix, otherwise known as the 4 P’s of marketing – Product, Promotion, Price and Place.