Marketing is everywhere. You may not realize it, but every day you are surrounded by marketing ploys trying to get you to buy the latest and greatest thing. Marketing is the management process through which goods and services move from concept to the customer (Businessdictionary, 2016). It includes the coordination of four elements called the 4 P’s of marketing. The 4 P’s are product, price, place, and promotion. You must first identify and develop a product. Then you have to determine the price. Then you must find the correct place to market your product. Finally, you must implement a promotional strategy in order to sell the product. In the words of Harvard’s Business School’s retired professor of Marketing Theodore C. Levitt, Marketing differs from selling because…
“Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariable does, view the entire business process as consisting of tightly integrated effort to discover, create, arouse, and satisfy customer needs” (Theodore C. Levitt, Businessdictionary).
Businesses are constantly on the look to find the newest ways of promoting their products to current and future consumers. Not only that, they want to form relationships with their customers. In the past 8 years social media has blown up. It used to be where no one had a Facebook, Twitter, or even an Instagram, but now you are the odd one out if you do not have one of these social media sites. There are about 131 million U.S. Facebook users between the ages of 18 and 64, and more than 500 million world-wide (Griffith, T. L. 2011). Businesses have notice...
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...tial to target consumers more effectively and a larger number at one time. Overall, social media is the most cost-effective form of customer interaction. (Wang et al., 2012). In addition, since social media is not a one-way communication tool, utilization of social media sites play a crucial role in the information gathering process (Chung and Buhalis, 2008). These sites provide the opportunity for businesses to learn about their consumers more easily and effectively, so they can tend their products to their customer needs.
The challenges of using webpages and social media
Now using social media and websites isn’t a sure thing for your small business to take off. While there are benefits, social media also presents challenges for many small businesses. According to a study, the average age of a small business owner was 50 (Experian Business Information Solutions 2007
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