Question

Can a small business succeed without adopting the philosophy underlying the marketing concept? Why or why not?

Answer 1

Yes, it is true that small businesses cannot succeed without adopting the philosophy underlying the marketing concept.

The importance of adopting the philosophy underlying the marketing concept are as follows:

• Small businesses must pay attention to marketing in the service industries.
• If the marketing strategy is not good then the potential customers will not know about their services and products.
• Successful marketing efforts enhance brand name.
• Customers will know more about the small business products and services that they offer.
• Marketing strategy lets the world know about business products and services.
• A marketing strategy can involve in various promotional activities that will help customers know about the business.
• It allows the business to compete with their competitors.
• Small businesses have the advantage of providing a greater amount of personal attention to their customers or clients.
• Good marketing leads to an increase in sales which becomes an important factor for the business to thrive.