- Category: Widget
- Published: Thursday, 04 June 2015 18:39
- Written by Isaac
- Hits: 163
2 Key Principles of a Business Marketing Initiative
Do you want your business to grow? If so, consider implementing a marketing initiative, advises Victory State Bank, Staten Island’s only community-based commercial bank.
As described by the U.S. Small Business Administration (SBA), “Marketing emphasizes the value of the customer to the business.”
Marketing has two guiding principles, explains the SBA, which are:
- All company policies and activities should be directed toward satisfying customer needs.
- Profitable sales volume is more important than maximum sales volume.
To best use these principles, SBA says a small business should:
- Determine the needs of their customers through market research.
- Analyze their competitive advantages to develop a market strategy.
- Select specific markets to serve by target marketing.
- Determine how to satisfy customer needs by identifying a market mix.
About Victory State Bank
VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.