Definition of marketing

A fairly comprehensive definition of marketing is that it is the management process responsible for identifying, anticipating and satisfying customer requirements profitably.

I apologise if that sounded a bit 'text booky'. But I like it because it encompasses all elements of marketing, showing that it is not just advertising or selling.

Marketing is about recognising and meeting customer needs.

It is about communicating to potential customers whose needs you address, converting their interest into a sale and building a long-term valuable relationship with that customer.

It is about growing your business and increasing your profits.

It is NOT about selling a product or service to people irrespective or whether or not they need or want it.

Why bother?

But it is not just about attracting new customers.

It is also about retaining existing customers and selling more to them.

This is important for profitability, because there is more value in a long-term relationship with a customer and more opportunities for repeat sales, cross sales and referrals than there is in a one-off transaction.

The difference that good marketing can make to your business will depend to an extent of the sophistication of your competitors. But by using some of the tactics that my-marketing-team.com provides, I can guarantee that you will be way ahead of the vast majority of small businesses.

And, in my experience, a good number of larger companies with marketing “experts” at their disposal!