The marketing concept is the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition.
Today most firms have adopted the marketing concept, but this has not always been the case.
In conclusion, an effective marketing strategy for a small business or startup follows the same basic marketing cycle as a big business, but for the small business marketer, the similarities stop there.
Budgets, staffing, creative approaches, and communication techniques vary hugely between an international mega-marketer like, say, Coca-Cola, and a comparatively micro-budget marketer like you.
Creating a successful new business is a tough job, especially when a new company has to compete against large, well-established businesses.
Read Also: Classification of Marketing Functions
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