When implementing a marketing concept a small business should determine the needs of their customers through market research. Analyze their competitive advantage through a marketing strategy, select specific markets to serve through target marketing and determine how to satisfy those needs through market mix. Addressing marketing research, to handle the marketing functions successfully, good information about the market is necessary. To achieve this good information, establish a small market research program based on questionnaires given to existing customers and or prospective customers. These questionnaires can reveal problems and areas of dissatisfaction that can be easily cured, or new products or services that could be offered successfully. Identify trends that will affect profitability. Monitor population shifts, legal developments and local economic situations to enable early detection of problems and opportunities. Monitor competitors, their comings and goings, and know what their strategies are.
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