WHEN TO BUILD A CUSTOMER PROFILE As mass marketing’s appeal begins to fade, it is being replaced by target marketing. Target marketing means knowing as much as possible about your current and potential customers and reaching them through very specialized advertising or marketing campaigns. The first question to ask when […]
Marketing
STRATEGIES FOR TRACKING ADVERTISING’S EFFECTIVENESS Once a business owner has successfully designed and placed an ad (or had that ad successfully designed and placed by an agency), he or she will be eagerly awaiting the increased sales that advertising promises. While advertising can be an effective means of increasing profitability, […]
THE ESSENCE OF GREEN PRODUCTION BUSINESS STRATEGY Green production is a business strategy that focuses on profitability through environmentally friendly operating processes. Proponents of this management philosophy contend that green production is a sensible course to follow not only because of the benefits that it bestows on the natural environment, […]
SELECTING DISTRIBUTION CHANNELS FOR SMALL BUSINESSES Distribution channels move products and services from businesses to consumers and to other businesses. Also known as marketing channels, channels of distribution consists of a set of interdependent organizations such has the wholesalers, retailers, and sales agents, involved in making a product or service […]
BUSINESS NICHES AND COOPERATIVE ADVERTISING Cooperative advertising is the sharing of costs for locally placed advertising between a retailer or wholesaler and a manufacturer. Many manufacturers have a set amount of cooperative advertising funds available per year, distributed as opportunities for collaboration arise. Manufacturers report, however, that much of this […]
HOW TO IMPLEMENT EFFECTIVE ENDORSEMENTS AND TESTIMONIALS Endorsements and testimonials are modes of advertising in which a business utilizes the statements and/or support of outside individuals or organizations in order to increase consumer interest in the product and/ or services it sells. The term “endorsement” tends to be more frequently […]
HOW TELEMARKETING CAN BENEFIT BUSINESS PRODUCTIVITY Telemarketing is the process by using the telephone to generate leads, make sales, or gather marketing information. Telemarketing can be a particularly valuable tool for small businesses, in that it saves time and money as compared to personal selling, but offers many of the […]
WHY SEED MONEY IS ESSENTIAL FOR PROSPECTIVE ENTREPRENEURS Seed money, or seed capital, is the financing an entrepreneur needs in the very early stages of launching a new business. It gets its name from the idea that early stage financing plants the seed that enables a small business grow. Obtaining […]
KEY COMPENSATION PLANS FOR SALESFORCE The sales commission is a method of compensating salespeople for the services they provide to their employer. Under the so-called “straight” commission arrangements, the salesperson receives a previously agreed percentage of the revenue brought in by a sale that he or she makes. Commission arrangements […]
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 […]
