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Small Business Quick Quiz

Question #16

The traditional definition of marketing is "identify a need and satisfy it". But smart marketers realise that this definition is grossly inadequate (inaccurate and misleading, in fact).

The reason for this is…

a. consumer needs have changed dramatically in recent years
b. most people now have the resources to satisfy their own needs

c. consumers are better educated and more vigilant these days

d. it offers no leverage to marketers

e. consumers are harder to satisfy these days

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The Short Answers #16

The answers to the questions are listed here in short form. For more complete discussion of the issues raised, visit the linked resources. Better still, subscribe to Small Business Pro. newsletter and bizzbuzz discussion list.

16a. True – but this isn’t the issue. Regardless of the need, the Fulfilment Spiral still applies. The process itself doesn’t change according to the need. See 16d.

16b. True up to a point – but it’s not the reason why the traditional definition of marketing is so grossly inadequate and dangerously misleading. See 16d.

16c. Also true – but that doesn’t explain why the traditional definition of marketing is so grossly inadequate and dangerously misleading. See 16d.

16d. Absolutely correct. Study the Fulfilment Spiral – the integrated process of turning your buyers into your most productive, profitable sellers. The traditional definition of marketing – “identify a need and satisfy it” – ends at stage 5 of an 8-stage process! And all the real leverage – up to 700% higher results – lies in stages 6, 7 and 8… the ones that begin AFTER the traditional definition of marketing ceases to apply!

(Is it any wonder that most marketers these days are obsessed with “customer loyalty” and “customer referral” programs tacked onto the end of their marketing strategies? And is it any wonder that they don’t work very well, since they’re little more than stop-gap, band-aid tactics to plug the huge leak created by an inadequate definition of marketing in the first place? You need a fully-integrated strategy right from the start.)

16e. Also true – but not the reason why the traditional definition of marketing is so grossly inadequate and dangerously misleading. See 16d.

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