Initiating a business and operating it successfully are two different things. A lot of people start their business well but fail to continue it. There are a number of reasons for their failure and inexperience is one of them. Businessmen who are not aware of important business functions and trade activities fail to survive. Apart from inexperience, lack of marketing is one important factor as well. Why do people buy products only when they have awareness? The answer is simple. They cannot depend on a product which they have never heard of. Even when a product is very efficient but it is not marketed well; it does not generate an impression in the mind of the consumer.
When you are involved in entrepreneurial marketing, you have to keep the buying behavior of the consumer in mind. A high-earning person would not buy at the same rate as an unemployed person. In addition to that, the buying behavior of a person changes with his/her monetary position. If you are a marketing student, try to understand the basic consumer retention concepts. Most institutions have separate courses for this area of study at the undergraduate level.
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