Thursday, October 9, 2014

Key Principles of Marketing

Getting to know your customers, or market(s), competition, industry, and community (influencers) is key to success.

Customers change daily.  For example, as the temperature changes throughout the day, customers' needs change.  A person (consumer market) may require a jacket or sweater if it gets cold. A company (business market) may require a heating and cooling unit. Although change presents challenges for organizations to keep up-to-date, gaining knowledge about customers and their changing needs that are further influenced by environmental changes, creates opportunities for organizations to provide products that address them.  Getting to know customers, from their perspectives, is key to long-term success and should thus be an ongoing process. 

1 comment:

  1. Getting to know your customers is so important that I think it's actually something you should do before you even start a business. If you don't understand your target market and their desires, you're at a big risk of offering something nobody even wants.

    Fred | O'Malley Hansen Communications

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