As we know that a marketing plan can be based on intuition alone, or intuition can be supplemented by sound market information. In every case, it is advisable to write the marketing plan only after collecting and evaluating marketing research data. A marketing plan based on research will undoubtedly be stronger than a plan without such a foundation.
Correspondence MBA – Scope In Human Resource And Marketing
Whether to lay off workers who are surplus to our needs and would be have a problem finding to work or to deeply cut executive pay and perks.
Attempting to rate employees based on performance and not on personality.
But marketing means different things to different people. Some entrepreneurs view marketing as simply selling a product or service. Others see marketing as those activities directing the flow of goods and services from producer to consumer or user. In reality, small business marketing is much broader. It consists of many activities, some of which occur even before a product is produced and made ready for distribution and sale.
We begin with a comprehensive definition of small business marketing in correspondence MBA course in order to covey its true scope to entrepreneurs. We learn in correspondence MBA course that small business marketing consists of those business activities that direct the creation, development, and delivery of a bundle of satisfaction from the creator to the target user and that satisfy the targeted user. Notice how this definition emphasizes the concept of a bundle of satisfaction- a core product or service.
Unfortunately, some entrepreneurs ignore marketing in the early stages of planning new ventures. They concentrate on the cart and neglect the horse – emphasizing the idea behind the product or service while overlooking the marketing activities that will carry the idea to customers. Consider the following conversation between an aspiring entrepreneur and online MBA profession in marketing:
MBA profession: May I see your marketing plan?
Entrepreneur: You could if I had one, but I don’t. It’s a great concept, and I just know people will want to buy it.
MBA professional: How do you know that these people will be so eager to buy? Is this what your consumer research indicates?
Entrepreneur: I don’t have any research, but my friends tell me it’s a fantastic idea that will sell like the hotcakes. Such optimism is commendable, but infatuation with an idea can have devastating consequences if the entrepreneur doesn’t understand how to transfer the idea into product or service that customer will purchase.