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Business Studies for Secondary Schools
marketing, which can be consistently (b) How will marketing help your
applied, irrespective of product, business grow?
place, and any other factors; and
(c) How will understanding your
(d) The market facilitates trade between customers help you sell more?
parties, unlike marketing, which
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creates a link between the customer Marketing plays a crucial role in the growth
and producer or supplier to provide and success of small businesses. It helps
the right quality product or service businesses attract customers, increase
at the right time and place in the sales, and build a strong brand presence in
required quantity.
the market. Without effective marketing,
Thus, a market is where your even the best products or services may go
business in Activity 1.2 is located, unnoticed. The importance of marketing
and marketing is how you package for small businesses includes:
and price your products to attract Helps understand customer preferences
and convince people to buy them.
and needs: Marketing is about sales and
Exercise 1.1 understanding customer preferences and
needs. Through market research, surveys,
Grayson noticed that Ian and Micaela and customer feedback, small businesses
were arguing because they could not can identify trends, improve products,
differentiate between ‘market’ and and tailor their goods and services to meet
‘marketing’. If you were Grayson, customer expectations. Understanding
using a real example from your customers helps businesses stay relevant
community, how would you explain the and competitive.
difference between the two to help them Increases customer awareness: One of the
understand? main purposes of marketing is to inform
potential customers about a business
Importance of marketing for small and its goods or service offerings. Small
businesses businesses often struggle with visibility,
but marketing strategies through social
Activity 1.3 media, e-mail campaigns, and advertising
can help them reach a larger audience.
Implement your Form Two business Awareness is important in attracting
idea in your local context. Then, customers and establishing a loyal
answer the following questions: customer base.
(a) Why is it important for people to Boosts sales and revenue: Marketing
know about your business? increases sales by promoting goods or
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