Definition of Marketing

The American Marketing Association defines marketing as: ‘Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large’.  

Operating Control Reports in Business

Accounting Systems and Technology, Production Control / By / 02/26/2022
Operating Control Reports

A part of any information feedback loop is the operating control reports in business. Depending on the nature and financial impact involved, these reports can be daily (Daily Operating Controls or DOC), weekly (Weekly Operating Controls or WOC) and/or monthly (Monthly Operating Controls or MOC) in management reporting. Their value is to inform management of business activity and identify any potential issues that could generate undue financial harm on the business or worse, create an unsafe product or work environment.

The Difference between Marketing and Advertising

Marketing / By / 02/27/2022
Marketing and Advertising

The simplest definition for these two misunderstood terms is that marketing involves customer interaction i.e. human contact, whereas advertising is a non-contact form of information transfer. You can read a multitude of professional definitions, academia literature and talk to just about any marketing graduate and you’ll get a lot of different definitions of these two terms. 

Who is Your Customer?

Marketing / By / 02/27/2022
boy playing baseball

You would think this is a simple question with an easy answer. But for most folks, they can’t identify their customer. It seems elusive or undefinable. If you are in business, you need to answer this one question. You need to know who is your customer.

Marketing – A License to Steal

Marketing / By / 02/27/2022

I had the privilege of meeting a potential client in one of those business gatherings. I asked him the usual questions and he started to explain his business operation. Well, he was basically a landlord to a gaming function. When I become fascinated by the enterprise, I reoriented my questions to some specifics. Sure enough he charges some high end prices for the facilities. Man, I needed to figure out how he was able to do this. With some prodding, he finally explained that his marketing approach pretty much gave him “A license to steal”.

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