socialmedian: What Marketing Plan? Budget... what budget? [Warren Cottis]

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What Marketing Plan? Budget... what budget? [Warren Cottis]

Source: Ecademy: user blogs

Nov 04, 2009

Summary

Peter Drucker said the purpose of a business is to generate new customers... and there are only two functions in a business that achieve that... marketing & innovation... and every other function is an expense.

So why do most small to medium size businesses have no marketing plan or marketing budget? And for the bulk of those that do... why does the plan look like a dartboard?

Unfortunately... because most small to medium size business owners don't realise that they are really in the business of marketing. Their marketing dilemma is that they suffer from "marketing idea of the week" syndrome instead of implementing a systematic approach to the problem of small business marketing.

Maybe they perceive the concept of marketing as some "smoke and mirrors" process? This could not be further from the truth because every marketing endeavour must be measurable or you are flushing money down the toilet.

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