The marketing mix is used to describe how owner-managers combine these four areas into an overall marketing program. Products and Services Effective product strategies for a business may include concentrating on a narrow product line, developing a highly specialized product containing an unusual amount of service. This marketing decision area includes advertising, salesmanship and other promotional activities. In general, high quality salesmanship is a must for small businesses due to their limited ability to advertise heavily. Good yellow-page advertising is a must for small retailers.
Direct mail is an effective, low-cost medium of advertising available to small businesses.
Generally, higher prices mean lower volume and vice-versa, however, small businesses can often command higher prices due to the personalized service they can offer. The manufacturer and wholesaler must decide how to distribute their products. Working through established distributors or manufacturers' agents generally is most feasible for small manufacturers. After marketing program decisions are made, owner-managers need to evaluate how well decisions have turned out. Standards of performance need to be set up so results can be evaluated against them.