PROJECT

In

ENTREPRENUERSHIP

MARKETING means different things to different people. View of marketing held by a marketing manager of multinational corporations will be much different to that of a small electrical contractor. MARKETING MANAGER will talk about distribution processes, market segmentation and product life cycles.

MARKETING is an integral part of small business management, for without an adequate market your business will not be profitable. Businesses can survive for some time with poor record-keeping insufficient finance or a lack of management skills, but they cannot survive without a market.

DEFINITION:

MARKETING is the ability to identify and satisfy customer needs at a profit.

You should notice that marketing concentrates on customers and what they need or want. Customers are the essence of marketing needs, wants and preference of the type of customers you wish to attract, and then you can adapt your business to deliver those desired goods and services. The aim of marketing is to have:

∙ Right product or service ∙ Right price ∙ Place ∙ Right time

Getting all this RIGTH is no easy task.

Good marketing will ensure you obtain two best type of business:

∙ repeat business – customers who come back again. ∙ Referral business – customers who tell others to use your business.

MARKETING

Marketing may be defined as the distribution of goods and services from producers to consumers. Distribution, therefore, creates time and place utility. Marketing involves buying, selling, transportation, storage, financing, grading, risks, knowledge, information, etc. These are known as marketing functions and activities necessary to carry out distribution.

FUNCTIONS OF MARKETING

∙ Buying –it is necessary to determine suitability of goods, and