1. What is a marketing plan? What lies at its center?
2. What objectives should a marketing plan accomplish?
3. How can market research benefit a small business owner? List some possible sources of market information.
4. Does market research have to be expensive and sophisticated to be valuable? Explain.
5. Why is it important for small business owners to define their target markets as part of their marketing strategies?
6. What is a competitive edge? How might a small company gain a competitive edge?
7. Describe how a small business owner could use the following sources of a competitive advantage niche-picking, generating publicity, entertaining, connecting with their customers, building a consistent branding strategy, embracing social networking, starting a blog, creating online videos, emphasizing their uniqueness, focusing on customers’ needs, retaining existing customers, emphasizing quality, paying attention to convenience, concentrating on innovation, dedicating themselves to service, and emphasizing speed.
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