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Successful entrepreneurs are customer-centered.  That is, they let their customers' needs and wants guide their marketing strategies. In order to have a thriving business you will need to think about conducting market research, segmenting individual markets, and creating your marketing strategy. 

What exactly is marketing you might ask? Marketing is the process or technique of promoting, selling, and distributing a product or service.   Marketing is the business function that identifies customer needs and responds to them. Marketing represents the creative part of a business.  It is a process for managing a company's assets in order to identify markets and meet customer needs. 

 


Helpful Tip

There are 4P's of Marketing. Do you know what they are?

  • Product: create the product people want
  • Price: offer it at a price people will pay
  • Place: deliver it or sell it in a way that appeals to people
  • Promotion: promote it so everyone knows about it!


Activity
Click here to print out our 4P's worksheet to help you identify what the 4P's are for your business.

 


Americans shelled out more than $24 billion in credit card fees in 2004, an 18% jump over the previous year.




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