HOW TO CREATE EFFECTIVE PROGRAMS TO IDENTIFY PROSPECTIVE CUSTOMERS (PART 1) The greater the demand is for your company’s products, the less effort your company will need to make to find new customers. But if your company has just started to do business, or if its products are new or […]
Marketing
HOW TO DEVELOP A CLEAR, CONCISE, COMPELLING MARKETING STORY (PART 2) Whether you are a sole proprietorship or a fortune 500 company, you have the same job to do. You must develop a clear, concise, compelling marketing story that addresses your customers’ needs and concerns. And you must use the […]
HOW TO DEVELOP A CLEAR, CONCISE, COMPELLING MARKETING STORY (PART 1) Whether you are a sole proprietorship or a Fortune 500 company, you have the same job to do. You must develop a clear, concise, compelling marketing story that addresses your customers’ needs and concerns. And you must use the […]
HOW PENETRATION PRICING WORKS Penetration pricing is a strategy employed by businesses introducing new goods or services into the market place. With this policy, the initial price of the good or service is set relatively low in hopes of “penetrating” into the marketplace quickly and securing significant market share. This […]
HOW MYSTERY SHOPPING CAN ALLOW FIRMS CREATE COMPETITIVE EDGE Mystery shopping is a term that describes a field-based research technique of using independent auditors posing as customers to gather information about product quality and service delivery by a retail firm. The “mystery shopper” poses as a customer in order to […]
HOW TO APPLY MARKET SHARE INFORMATION Market share refers to the percentage of overall volume of business in a given market that is controlled by one company in relation to its competitors. For example, if the total sale of a certain product in a market is $800, 000, and the […]
HOW QUESTIONNAIRES CAN AID FEASIBILITY OF A NEW VENTURE THROUGH MARKETING RESEARCH Market questionnaires are a form of quantitative, primary market research that can provide business owners with specific information about their customers’ needs. Whether conducted over the telephone, through the mail, over the Internet, or in person, market questionnaires […]
LOSS LEADER PRICING AS STRATEGY FOR SALES INCREASE Loss leader pricing is an aggressive pricing strategy wherein a store sells certain goods below cost in order to attract customers who will, according to the loss leader philosophy, make up for the losses on highlighted products with additional purchases for profitable […]
MARKET ANALYSIS Market analysis is a tool companies use in order to better understand the environment in which they operate. It is one of the main steps in the development of a marketing plan. The first step is to conduct market research – or gather information through direct mail, telemarketing, […]
BENEFITS OF TARGET MARKETING FOR SMALL BUSINESSES A target market is a group of customers with similar needs that forms the focus of a company’s marketing efforts. Similarly, target marketing involves tailoring the company’s marketing efforts to appeal to a specific group of customers. Selecting target markets is part of […]
