Product – the item or service you sell.
Price – the amount your charge for your product or service.
Promote – the ways you inform your market as to who, what, and where you are.
Provide – the channels you use to take the product to the customer.

As you can see, marketing encompasses much more than just advertising or selling. For example, a major part of marketing involves researching your customers: What do they want? What can they afford? What do they think? Your understanding and application of the answers to such questions play a major role in the success or failure of your business.

Should I have a web page?

There are four general reasons to have a Web site:

To sell products and services
To give information
To increase visibility
To provide additional customer service

First, decide if any of these reasons make sense for you. Selling products and services on the Internet successfully involves having a great product, attracting a targeted market, and/or selling to and satisfying your customers.

How do I obtain a domain name for my business?

Start by going to Network Solutions, an online directory of domain names at http://www.networksolutions.com. If the name you’ve chosen is not already registered, you can pay Network Solutions an annual fee for the rights to use the domain name.

What is my market potential?

The principles of determining market share and market potential are the same for all geographic areas. First, determine a customer profile (who) and the geographic size of the market (how many). This is the general market potential. Knowing the number and strength of your competitors (and then estimating the share of business you will take from them) will give you the market potential specific to your enterprise.

How can I find profiles on typical industry customers?

There are a few places you might try to locate these kinds of statistics:

a. Trade Associations: Trade and industry groups often conduct extensive market research and make this research available to members. While they often focus on national or statewide trends, you might find local statistics through a group’s local chapter. The SBDC can also provide relevant, up-to-date information on your industry.

b. Local Chamber of Commerce: Chambers also conduct market research. They primarily focus on economic development issues in key industries. Visit the Index of Pennsylvania Chambers of Commerce to find your local Chamber

How do I find suppliers for my business?

Contact your local SBDC for information concerning suppliers. Our consultants have information concerning international, governmental, and private suppliers for your business. Another option is to attend trade shows. Trade shows are a great place to track down suppliers and wholesalers. One on-line resource for tracking trade shows is the Trade Show News Network at www.tsnn.com.

Return to FAQ Overview