BSBSMB403 Market the small business
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Kathy owns and runs a small personal training business called Upstart Fitness along with her husband. Part of Kathy's duties including marketing the business to the local community to try and attract more clients.
"You cannot manage a quality service organisation unless you understand the nature of what you are providing, fully realise what your customers want from you and how they perceive you from the start."
- W. Martin; Managing Customer Service, Crisp, 1989
Marketing is about having the right product at the right price, in the right quantity, in the right place, and at the right time while making a profit. It is about understanding your customer and seeking them out and providing what they want. In effect, marketing is an outcome of examining every aspect of your business and how it affects the consumer's experience. It covers all that you'll need to do in order to deliver your products and services to the consumer including investigation, planning, pricing, packaging, promotion, selling and distribution.
Market research is an effective tool to assist your business planning, and a significant part of creating your marketing strategy. It is about collecting information that provides an insight into your customers thinking, buying patterns, and location. In addition, market research can also assist you to monitor market trends and keep an eye on what your competition is doing.
Market research is a valuable activity for all businesses. Various statistics and other research data can help you make informed decisions about your business.
