IMPORTANCE OF CONSIDERING THE COSTS ASSOCIATED WITH MANUFACTURED PRODUCTS Product cost is the process of tracking and studying all the various expenses that are accrued in the production and sale of a product, from raw material purchases to expenses associated with transporting the final product to retail establishments. It is...
Marketing
STEPS TO SUCCESSFUL INVESTOR PRESENTATIONS Investor presentations are an important but often overlooked aspect of entrepreneurial efforts to secure financing for their businesses. Presentations are particularly important to business owners hoping to raise money from private investors. Whereas institutional investors such as banks rely primarily on financial statements, business plans,...
FACTORS IN ARRIVING AT A PRICING STRATEGY Intelligent pricing is one of the most important elements of any successful business venture. Yet many entrepreneurs fail to educate themselves adequately about various pricing components and strategies before launching a business. Smart business owners will weigh many marketplace factors before setting...
HOW TO PREPARE FOR A SUCCESSFUL TRADE SHOW EXHIBIT A trade show is an event where companies that are involved in a certain industry gather to exhibit their products learn about current trends in their industry, and gain knowledge about their competitors. Trade shows provide opportunities for selling, reinforcing existing...
FACTORS IN SUCCESSFUL PRIVATE LABELING MANUFACTURING Private labeling is when a retailer purchases products from various manufacturers and then markets those products under its own brand. Private label goods are often referred to as “store brands,” as opposed to the “name brands,” that are sold under the brand name of...
PRODUCT POSITIONING: UNDERSTANDING CONSUMER PERCEPTIONS Product positioning involves tailoring an entire marketing program (including product attributes, image, and price, as well as packaging, distribution, and service) to best meet the needs of customers within a particular market segment. In this way, product positioning is part of the overall process of...
WHEN TO USE PERSONAL SELLING Personal selling is the process of communicating with a potential buyer (or buyers) face to face with the purpose of selling a product or service. The main thing that sets personal selling apart from other methods of selling is that the salesperson conducts business with...
KEYS TO SUCCESSFUL MERCHANDISE DISPLAY Merchandise displays are special presentations of a store’s products or services to the buying public. The nature of these displays may range somewhat from industry to industry, but all merchandise displays are predicated on basic principles designed to increase product purchases. Indeed, merchandise displays are...
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HOW CORPORATE SPONSORSHIP CAN ENHANCE CORPORATE IMAGE AND VISIBILITY Corporate sponsorship, also known as event marketing, is a form of advertising in which companies pay to be associated with certain events. Corporate sponsorships have been growing rapidly in recent years. Part of the increase is attributable to the number...
