ENT 500 Chapter 6: Longnecker Textbook-Chapter 6
16 Aug 2015
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Small business marketing consists of those business activities that relate directly to: identifying target market, determining target market potential, preparing, communicating, and delivering a bundle of satisfaction to the target market. Market segmentation, market research, and sales forecasting are the activities that make up what is commonly called market analysis. Product, pricing, promotion, and distribution activities combined to form the marketing mix. A rms marketing philosophy shapes it"s marketing activities. A small business can be successful only if an adequate market exists for product or service the sales forecasts is a typical indicator of market adequacy. A market is a group of customers or potential customers who have purchasing power and unsatis ed needs. In order to divide the total market into appropriate segments, an entrepreneur must consider segmentation variables, which are labels that identify the particular dimensions that distinguish one form of market behaviour from another:
