Distribution: The manufacturer and wholesaler must decide how to distribute their products. Working through
established distributors or manufacturers' agents is generally easiest for small manufacturers. Small retailers
should consider cost and traffic flow in site selection, especially since advertising and rent can be reciprocal: a
low-cost, low-traffic location means spending more on advertising to build traffic.
These all combine into an overall marketing program.
The nature of the product or service is also important in citing decisions. If purchases are based largely on
impulse, then high-traffic and visibility are critical. On the other hand, location is less of a concern for
products or services that customers are willing to go out of their way to find. The recent availability of highly
segmented mailing lists, purchased from list brokers, magazines, or other companies, has enabled certain small
businesses to operate from any location, yet serve national or international markets.
Marketing Performance
[ii]
After implementing a marketing
program, entrepreneurs must evaluate its performance. Every program should have performance standards to compare
with actual results. Researching industry norms and past performances will help to develop appropriate
standards.
Entrepreneurs should audit their
company's performance at least quarterly. The key questions are:
·
Is the company doing all
it can to be customer-oriented?
·
Do employees ensure the
customers are satisfied and leave wanting to come back?
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