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Glossary of Terms - Small Company Marketing

Marketing is one of the most important functions of any business and the one that often causes most concern to small and medium sized company owners.

Marketing is the managerial process of bringing goods and services to the market to fulfil the needs, wants and desires of individuals, groups and businesses. For a small company marketing is particularly important because potential customers are less likely to have any awareness of the company or the particular products or services it wishes to sell. Small company marketing campaigns therefore face the additional challenge of persuading potential customers of the company credentials in fulfill these products and services. This may be particularly true in something like the holiday industry or professional services.

The marketing function needs to develop the correct products and services at acceptable prices to all parties. Marketing must then bring these products and services to the attention of the target market and make them easily available for purchase by those who wish to. In this respect small company marketing is exactly the same as that for larger businesses.

Small company marketing usually differs from that of larger businesses in that available budgets are typically much smaller, this means that marketing for small companies must achieve return on investment very quickly. The most effective small company marketing is usually tactical marketing which focuses on a number of media selected to be the most appropriate for the company and its services or products, this may be advertising, online marketing, direct marketing, telemarketing, etc.

The main tasks to accomplish when developing small company marketing plans is to raise the awareness of the company and its products or services within the target market. This will usually involve the development of a marketing strategy to outline how these objectives are to be achieved. Successful small company marketing campaigns can often involve relatively simple marketing tactics however it is important that every aspect of the communication with the target market is both professional and relevant.

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