Introduction

Think of some of the hottest brands of today. Target, Coke, Netflix, Ford F150. How did these brands get hot? They knew how to market.

This is what marketing is all about -- whether for big business or small business. It is figuring out what your customers really want. It's turning a concept into a deliverable product or service. It's selecting a name, designing a package, developing an ad or a sales presentation. It's evaluating inventory positions and transportation options to keep costs in check. And, finally, it's setting the price to make a profit -- after a good hard look at costs, at how much your customers make, and how much your competitors charge.

This sounds like common sense, right? Yet statistics show that 61% of new businesses fail to make a profit. Why? In many cases, the answer is: terrible marketing.

So why study marketing? Because it's practical. It's creative. It's in demand. And it's critical to business success.