What is Marketing?:
Marketing is the commercial process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, or services, that will ultimately satisfy and hopefully delight a customer. Why is it important to have a marketing checklist?
Consciously or unconsciously, every one of us does render some service or another, maybe even an idea. So why do such a high percentage of companies fail? Well in most cases, the problem lies not in the idea or service itself, but in the cultivation thereof.
Lets try and analize where most businesses go wrong:
Most small businesses don't have an effective marketing plan.
Successful businesses thrive because most people in the organization are aware of where the business is going. The business is as a result of one persons vision with the help of all employees or sub contractors, the company as a whole is dedicated to see that vision through.
A Marketing plan helps to achieve this kind of focus and when used effectively, it will ensure that the business is able to adapt to today's dynamic business environment and changing customer needs.
They tend to confuse Sales with Marketing.
One important fact to remember is that Sales is a direct byproduct of effective Marketing. The objective of sales is to increase revenue that the company generates by distributing products and services, none of which would be possible if the consumer of that product had no information on which to base their purchase. Although it is important not to confuse the two, Sales and Marketing tend to work hand-in-hand, ultimately driving sales.
“We don't need marketing, we're a small company”.
That should be that exact reason as to why a business does need to have a marketing process. No business owner wants to remain the same size forever and to just keep breaking even. But the only way of changing that is to be proactive, know what the market is, where its going and where you fit in.
A good place to start is to create a a SWOT Analysis. In a business context, the SWOT analysis enables organizations to identify both internal and external influences.
Need some inspiration? There are several SWOT images available to help