5. Work Book Creating Customers

Marketing within the small business is not the same as found within larger organisations due to limited resources, but also the owner-manager’s ability to get closer to the customer and understand their needs and wants. The term “customerising” has been coined to describe the process of marketing within the small business. This involves the ability to delight the customer by offering significantly better levels of product or service quality. Successful small firms have formal approaches to marketing and secure an above average level of word of mouth referrals. These firms have business generating systems and know why their customers buy from them and how they make buying decisions. Small business owners need to understand customer needs while monitoring the past performance of their firm within its market. They also need to develop a coherent and well considered sales management process and a marketing strategy that considers each of the seven elements of the marketing mix. This strategy must identify selected target markets, develop a position within these markets and create appropriate plans for the management of products, pricing, distribution, promotion, process, people and physical evidence. Further, by paying attention to the quality of service that the firm can give to its customers, and engendering in them a perception of value it can generate customer loyalty, repeat business and positive word of mouth referrals.