tag:blogger.com,1999:blog-378748892024-03-17T09:37:16.745-07:00Marketing Strategy And Concept
The definition of marketing can be explored from different perspectives. It involves a social and managerial procedure wherein individuals and groups fulfill their desires and requirements by generating, showcasing, and trading valuable products. Fundamentally, marketing centers on researching the target market and delivering a suitable product to meet its demands.Unknownnoreply@blogger.comBlogger196125tag:blogger.com,1999:blog-37874889.post-54786370716967196672024-03-17T09:36:00.000-07:002024-03-17T09:36:17.157-07:00Enhancing Marketing Intelligence Systems for Competitive AdvantageMarketing intelligence systems serve as the lifeblood for businesses, offering critical insights into the ever-evolving marketing landscape. However, relying solely on informal methods like reading publications or talking to stakeholders can lead to missed opportunities and delayed responses. To maximize the effectiveness of these systems, companies must adopt structured approaches to gather and analyze intelligence. Here's how they can do it:<br /><br /><b>Empowering the Sales Force</b>: Sales representatives are the frontline soldiers in the battle for market supremacy. By equipping them with the right tools and incentives, companies can transform them into invaluable intelligence gatherers. Training programs should focus on enhancing their ability to spot and report emerging trends, competitive moves, and customer needs. Motivation is key; incentivizing sales teams to actively engage in intelligence gathering ensures a steady flow of timely information. Additionally, implementing user-friendly reporting systems simplifies the process, making it easier for sales reps to relay crucial insights back to headquarters.<br /><br /><b>Engaging Distributors and Intermediaries</b>: Collaboration with distributors, retailers, and intermediaries can significantly enrich a company's marketing intelligence pool. By fostering open communication channels and incentivizing information sharing, businesses can gain access to valuable data on end-user behavior, market trends, and competitor activities. For example, companies can request distributors to provide detailed sales reports, including customer demographics and purchasing patterns. This not only benefits the company but also strengthens the relationship with distribution partners by demonstrating a commitment to mutual success. Furthermore, sharing insights with intermediaries enables them to tailor their marketing efforts more effectively, ultimately driving higher sales and customer satisfaction.<br /><br />In conclusion, while informal methods of gathering marketing intelligence have their place, they often fall short in delivering timely and comprehensive insights. To stay ahead in today's dynamic marketplace, companies must invest in structured intelligence-gathering processes that engage all relevant stakeholders. By empowering the sales force, engaging with distributors and intermediaries, and implementing robust reporting mechanisms, businesses can build a competitive advantage grounded in actionable market intelligence. As the saying goes, knowledge is power, and in the realm of marketing, it's the key to success.<br /><i>Enhancing Marketing Intelligence Systems for Competitive Advantage</i>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-80538120579241161412024-03-03T23:29:00.000-08:002024-03-03T23:29:33.547-08:00Affiliate Marketing SimplifiedAffiliate marketing has emerged as an attractive option for those looking to earn income online by promoting products or services offered by others. This business model shares similarities with network marketing, as both involve promoting third-party products. One of the main benefits of affiliate marketing is its simplicity, as the merchant typically handles logistical aspects like shipping and customer support. Amazon.com is a notable example of a company leveraging affiliate partnerships to boost sales and extend its reach.<br /><br />The role of an affiliate marketer primarily involves directing potential customers to the merchant's offerings. Upon successful transactions resulting from these referrals, affiliates earn a predetermined commission. Unlike network marketing, participating in affiliate programs usually doesn't require any initial financial investment, making it accessible to those seeking online income opportunities.<br /><br />While some companies may blend elements of both network and affiliate marketing, caution is advised for aspiring affiliates. Some programs may impose startup fees or monthly charges, which diverge from the standard of free participation. These practices, often dubbed as "affiliate sharks" by industry experts, can undermine the profitability and credibility of affiliate marketing. Thus, newcomers are encouraged to avoid such schemes and focus on programs with free enrollment.<br /><br />Affiliate programs offer a low-entry point for individuals looking to monetize their online presence. With minimal financial investment required, virtually anyone can begin earning income through affiliate marketing. However, success in this field requires a solid grasp of various strategies and marketing techniques. Simply joining an affiliate program doesn't guarantee substantial earnings; rather, it's the effective application of proven methods that unlocks the full potential of affiliate marketing.<br /><br />In conclusion, affiliate marketing provides a promising opportunity for individuals seeking online income without significant upfront costs. By leveraging affiliate partnerships, marketers can capitalize on existing products or services and earn commissions through successful referrals. While the promise of quick profits may tempt some towards dubious schemes, it's crucial for aspiring affiliates to prioritize reputable programs and equip themselves with the necessary knowledge and skills to thrive in the competitive affiliate marketing landscape.<br /><i>Affiliate Marketing Simplified</i>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-23017520123942882842024-02-19T09:46:00.000-08:002024-02-19T09:46:07.465-08:00Network Marketing RealitiesNetwork marketing, often referred to as MLM (Multi-Level Marketing), is a business model where individuals promote products or services and recruit others to do the same. This creates a network of distributors who earn commissions based on their sales and the sales of their recruits. The advent of the internet has significantly expanded the reach of network marketing, allowing individuals to connect with potential recruits and customers worldwide.<br /><br />While network marketing offers the promise of leveraging efforts through recruitment, the reality often falls short of expectations. The recruitment structure relies on a pyramid-like hierarchy, where individuals at the top benefit the most from the efforts of those below them. However, recruiting new members is not as simple as it may seem. It requires significant time, effort, and often involves facing skepticism from potential recruits.<br /><br />The internet plays a crucial role in modern network marketing, facilitating communication, promotion, and sales. Social media platforms, websites, and online forums serve as tools for networking and reaching a broader audience. Despite these advantages, the online landscape is also rife with fraudulent businesses posing as legitimate MLM opportunities. This skepticism further complicates the recruitment process and tarnishes the reputation of genuine network marketing ventures.<br /><br />Financial considerations are another aspect that prospective network marketers must carefully evaluate. Many MLM companies require distributors to pay a set monthly fee, regardless of their sales success. This poses a risk of financial loss, especially for those who fail to generate sufficient income to cover these expenses. While there is potential for significant earnings in network marketing, success is not guaranteed, and the majority of participants may end up losing money.<br /><br />Moreover, network marketing is not suitable for everyone. It requires a specific skillset, including salesmanship, networking abilities, and resilience in the face of rejection. Individuals should carefully assess their strengths and weaknesses before committing to this business model. Additionally, caution is advised against promises of quick riches and "ground floor" opportunities, as success in network marketing typically requires perseverance and hard work.<br /><br />In conclusion, while network marketing offers the potential for financial success and flexibility, it is not without its challenges and pitfalls. Prospective network marketers should approach this business model with caution, conducting thorough research and realistic expectations. While some may thrive in the network marketing environment, others may find it more suitable to explore alternative avenues for entrepreneurship. Ultimately, the viability of network marketing depends on individual circumstances, skills, and dedication.<br /><i>Network Marketing Realities</i>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-44466237322285078472024-02-05T02:43:00.000-08:002024-02-05T02:43:53.605-08:00Marketing Strategies for SalesPositioning yourself as the exclusive provider during a customer's urgent need holds the potential to secure a sale, even without a firmly established foundation of trust. This strategic approach is particularly effective in various business contexts, and the implementation of tailored advertising strategies becomes crucial in maximizing its impact.<br /><br />For example, consider the case of an appliance dealer aiming to capitalize on this principle. The dealer could proactively distribute promotional magnets designed for customers to affix to their appliances. Simultaneously, the establishment of a comprehensive program to collect information about replacement appliance specifications—such as measurements, capacity, fuel type, and color—can be initiated. By doing so, the appliance dealer equips themselves with vital details in advance. When an appliance malfunctions, customers can then request a price quote without the stress and inconvenience of providing necessary details during a time of urgency. This thoughtful and proactive approach not only streamlines the customer experience but also positions the dealer as a reliable solution provider in critical moments.<br /><br />In a locksmith service scenario, a tangible manifestation of this strategic positioning is having a business card from a gas station lock-out service. Despite never having a direct encounter with the service owner, the possession of the card provides a sense of reassurance. In the event of locking keys in the car on a bitterly cold day, the customer feels confident in seeking prompt assistance. This tangible reminder serves as a testament to the business's availability during urgent situations, establishing a connection between the potential customer's immediate needs and the service offered.<br /><br />Recognizing the general aversion to intrusive advertising, it becomes imperative for businesses to offer tangible benefits. While entertainment may not directly drive purchases, it serves as a valuable element that captures attention. This approach aligns with the understanding that individuals are more inclined to address existing issues rather than focusing on preventing future ones. To effectively communicate the benefits of a product or service, businesses need to vividly depict undesirable situations that their offerings can resolve.<br /><br />Building upon this, an appliance dealer can adopt a narrative approach in their advertising. For instance, they can present a relatable scenario: "Imagine your freezer suddenly breaks down, putting $200 worth of food at risk of spoiling. In this urgent scenario, pre-shopping for a new freezer can significantly ease the inconvenience. Our service ensures swift delivery of a new freezer while efficiently removing the old one." This narrative not only resonates with the customer's potential experience but also highlights the dealer's commitment to providing timely solutions during stressful times.<br /><br />In essence, the key to successful marketing lies in identifying when a consumer would find the message relevant and tailoring the approach accordingly. By addressing the question, "Under what circumstances would a consumer desire my marketing message?" businesses can strategically position themselves as the go-to solution provider in times of need, establishing a connection that transcends the absence of firm trust. This customer-centric approach fosters brand loyalty and enhances the likelihood of securing sales during critical moments.<br /><i>Marketing Strategies for Sales<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpMZq1r-dHPUOYiUXsOzA11F2lLnTXol30trOheJFJJGvXv4pd0zd3xPki4Y4_UIgcA0k2kIR735SRfj6sSMXx3ssEGNUTKsfrbCbVvUc8zfY30GCMrIX3NW1TYvGnlrL-a8biHDZX7q6gsUaYtj2FTJ-5a60pf53jx1lFdUjoMYi8pnt5F1FJ/s175/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="122" data-original-width="175" height="164" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgpMZq1r-dHPUOYiUXsOzA11F2lLnTXol30trOheJFJJGvXv4pd0zd3xPki4Y4_UIgcA0k2kIR735SRfj6sSMXx3ssEGNUTKsfrbCbVvUc8zfY30GCMrIX3NW1TYvGnlrL-a8biHDZX7q6gsUaYtj2FTJ-5a60pf53jx1lFdUjoMYi8pnt5F1FJ/w235-h164/1.jpg" width="235" /></a></div></i>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-62478851320007568622024-01-21T21:44:00.000-08:002024-01-21T21:44:42.555-08:00Online MLM RealitiesNetwork marketing, also referred to as MLM (multi-level marketing), stands out as a popular avenue for online business, mirroring its offline counterpart established over several decades. The core principle revolves around recruiting two or more individuals who, in turn, bring in others, aiming to capitalize on collective efforts. A unique feature in the online realm is the capability, facilitated by the Internet, to connect with individuals globally.<br /><br />Despite its enticing theoretical concept, the challenge arises when individuals engage with MLM companies, as the practical aspects often deviate from initially idealized expectations. The primary focus of MLM is recruitment, a process that proves to be more intricate than initially portrayed. Unfortunately, the MLM industry has encountered instances of fraudulent activities, causing individuals to approach it cautiously when encountering terms like "MLM" or "network marketing."<br /><br />Compounding the complexity is the mandatory monthly fee tied to this business model, irrespective of whether profits are realized. Consequently, many individuals entering this venture find themselves grappling with financial losses. While achieving financial success through network marketing is conceivable, it is not a suitable path for everyone. The notion of "getting in on the ground floor" may not consistently deliver the advantages it initially seems to promise.<br /><i>Online MLM Realities</i>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-74837286003716698012023-12-25T07:48:00.000-08:002023-12-25T07:48:37.399-08:00Efficient Distribution CentersDistribution centers, specialized facilities in logistics often equipped with refrigeration or air conditioning, store products for redistribution to retailers, wholesalers, or consumers. They play a vital role in the supply chain, efficiently fulfilling customer orders with precision while minimizing costs.<br /><br />These centers serve as comprehensive logistics hubs, managing tasks like storage, picking, packing, and shipping to meet customer demands, whether for retail outlets or direct consumers. They are commonly employed by online retailers and ecommerce firms.<br /><br />Well-placed distribution centers strategically simplify and reduce expenses related to transporting products to their destinations. This is particularly advantageous for cost-effective bulk shipping to the core of a market, especially when production is not conveniently located in a central position.<br /><i>Efficient Distribution Centers</i>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-56825392601816963112023-10-29T18:39:00.001-07:002023-10-29T18:39:00.141-07:00MRO inventoryManufacturers need components and tools on hand they can use to quickly repair machines and keep production lines operating. Maintenance teams depend on hundreds to thousands of different materials and supplies to keep assets running. <br /><br />RO inventory stands for maintenance, repair, and operation inventory — and refers to the equipment, tools and activities associated with the daily operations of a business. <br /><br />However, unlike raw materials, this inventory does not become a part of finished goods offered to customers. MRO inventory includes all the consumable materials and supplies necessary to undertake that maintenance and repair, in addition to operational activities. MRO may include HVAC (Heating, ventilation, and air conditioning) maintenance, facility lighting, janitorial services, CNC (Computer Numerical Control) machinery, drill presses, forklifts, jacks, PPE, powered and manual hand tools, mops, brooms and even furniture. <br /><br />Cleaning supplies account for a significant amount of MRO inventory because they include a myriad of things such as disinfectant & cleaning sprays, liquids, and powder <br /><br />MRO inventory can account for a significant portion of a company’s overall procurement spend, it’s important to apply efficient MRO inventory management processes that minimize costs. MRO inventory management is the challenging task of controlling and optimizing MRO inventory replenishment.<br /><b>MRO inventory</b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-56372931479320290112023-08-13T21:44:00.004-07:002023-08-13T21:45:36.432-07:00Defining Characteristics of AdvertisingAdvertising stands apart from various forms of 'marketing communications' due to its extensive presence in the daily lives of the general populace. People often come across job opportunities and homes through newspaper ads. They can effortlessly remember commercials for products such as the breakfast cereal they consumed in the morning, the brand of toothpaste they used, and the car they drove to work.<br /><br />When individuals want to sell items like an outdated computer or an old bicycle, they frequently put forth a 'small ad' in a newspaper or magazine. Consequently, the notion of 'advertising' is widely comprehended, and people typically do not seek a formal definition for it.<br /><br />Nevertheless, over time, as the fields of management science, media technology, and economic development have advanced, formal explanations of advertising have grown in number. These explanations mirror the viewpoints of diverse authors from domains such as communications, marketing, economics, and sociology.<br /><br />Bernstein (1974) famously asserted that 'advertising is advocacy,' and one could additionally observe that it imparts advice, albeit with a biased perspective. Two more traditional textbook definitions are as follows: 'the practice encompassing any compensated approach to presenting and promoting ideas, products, or services in an impersonal manner, sponsored by an identifiable entity,' and 'a form of mass communication that is impersonal and financially supported by a recognized sponsor.'<br /><br />These four distinctive characteristics that define the output of an advertiser were formalized in the early phases of marketing as a quasi-science: it encompasses an impersonal message aimed at endorsing something, officially funded by an identifiable source.<br /><br />From these characteristics, the ensuing criteria are derived to differentiate advertising from interconnected forms of mass communication, such as publicity, sales promotion, teleselling, or even beyond the scope of marketing, propaganda. Advertising always involves:<div>~An identifiable advertisement<br />~Presented through definable advertising channels<br />~Ensuring the conveyance of an unaltered message<br />~Targeting a specific audience<br />~Accompanied by payment of the published rate for the used space or time<br /><i>Defining Characteristics of Advertising<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisEtcAZ9DruEAjAtj97JLot_IKRVgWVuonwZ1IvHWG07UvJa_h4tR_ExA3Qsi1a3vzrTfBUCmxgp4TulHMw2X3zaR7kRAk_r8GzPODujoDW-pC7era2LChgCr8itetM_59pPekYAhpcsdPQsddc4z1GEOZvnCepPC_DvTrbGXw7t_RDZs4RPtu/s512/1.jpg" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="276" data-original-width="512" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEisEtcAZ9DruEAjAtj97JLot_IKRVgWVuonwZ1IvHWG07UvJa_h4tR_ExA3Qsi1a3vzrTfBUCmxgp4TulHMw2X3zaR7kRAk_r8GzPODujoDW-pC7era2LChgCr8itetM_59pPekYAhpcsdPQsddc4z1GEOZvnCepPC_DvTrbGXw7t_RDZs4RPtu/w443-h240/1.jpg" width="443" /></a></div></i></div>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-77183900206458535042023-07-19T06:14:00.005-07:002023-07-19T06:14:52.641-07:00White hat SEOWhite hat SEO refers to SEO tactics that enhance search rankings on a search engine results page (SERP) while adhering to the guidelines and expectations established by search engines and users.<br /><br />In contrast, black hat SEO involves unethical practices that violate search engine rules. Google has a rulebook called "Google Search Essentials," previously known as the "Google Webmaster Guidelines" until October 2022. Following the rules and recommendations outlined in Search Essentials is considered white hat SEO, whereas black hat SEO disregards these guidelines and aims for quick wins by manipulating search engines.<br /><br />White hat SEO strategies prioritize delivering high-quality and relevant content that enhances user experience, rather than relying on spammy techniques such as duplicating content solely optimized for search engines. Search engines determine website rankings based on various factors associated with each website.<br /><br />Examples of white hat SEO strategies include:<div>1.Optimizing webpages for specific keywords<br />2.Creating high-quality content that adds value. In white hat SEO, it is crucial to provide content that offers additional value to users, which can generate natural links voluntarily established by users.<br />3.Improving website speed<br />4.Using descriptive meta tags<br />5.Enhancing site navigation<br /><i>White hat SEO<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEinhOY-Wh53ntWJvReNOgtDFyIk8vvPrXQMT1BcPdD6KzkjzSOdR-ve5pKtaYBfE_-KnBMFQCpeDq7M2ps0PBfb3LyJ3fTHO0dBm6_TjakVdrB4WO5zARj4uYQ8KMU4iouqLQkcqNylZXkNUrQPH5m6xnL_MN82th4bHA4a2ncfwVDjW_CDcGJc/s1093/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="561" data-original-width="1093" height="218" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEinhOY-Wh53ntWJvReNOgtDFyIk8vvPrXQMT1BcPdD6KzkjzSOdR-ve5pKtaYBfE_-KnBMFQCpeDq7M2ps0PBfb3LyJ3fTHO0dBm6_TjakVdrB4WO5zARj4uYQ8KMU4iouqLQkcqNylZXkNUrQPH5m6xnL_MN82th4bHA4a2ncfwVDjW_CDcGJc/w426-h218/1.jpg" width="426" /></a></div></i></div>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-75809724971878593582023-07-02T22:58:00.003-07:002023-07-02T22:58:31.188-07:00Market researchCompanies engage in market research prior to launching a new product in order to assess its potential appeal to prospective customers. Market research entails collecting data on the target market and customers with the aim of validating the potential success of the new product, aiding the company's team in refining an existing product, or comprehending brand perception to effectively communicate the company's value proposition. By blending consumer behavior with economic trends, market research serves to validate and enhance business concepts by systematically gathering data to facilitate informed decision-making.<br /><br />Through market research, a company can define its target market and solicit opinions and feedback from consumers regarding their interest in a product or service. This process enables a more profound and comprehensive understanding of consumer values, which proves invaluable in product development and devising marketing strategies. The following direct research methods can be employed:<div>*Surveys<br />*Questionnaires<br />*Focus groups<br />*In-depth interviews<br /><br />Market research encompasses four distinct types:<div>~Primary research: Involves firsthand data collection.<br />~Secondary research: Involves gathering existing information or research for analysis.<br />~Qualitative research: Focuses on exploring opinions, motivations, and attitudes.<br />~Quantitative research: Focuses on numerical data and statistical analysis.<br /><br />Market research plays a pivotal role in helping companies become more efficient, cost-effective, and competitive.<br /><i>Market research<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwNUh-f5rfVECw18ZNUYzRBJ_S0Jz_MIK_UsMszc39Ky0RoT7J3k5mrhdjTibzCNQ2I8vPbH0-M7nn_xeuyRl8c53ogZbgVIrV-a3ZY3KbKZGcstECdxQkBwOxn4qiDz9RY9z_BPP0vKXQ6-pmeGmcahg3t6MsgAqkcPNA7d6tjxaWE2yd7Os7/s385/1.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="248" data-original-width="385" height="306" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjwNUh-f5rfVECw18ZNUYzRBJ_S0Jz_MIK_UsMszc39Ky0RoT7J3k5mrhdjTibzCNQ2I8vPbH0-M7nn_xeuyRl8c53ogZbgVIrV-a3ZY3KbKZGcstECdxQkBwOxn4qiDz9RY9z_BPP0vKXQ6-pmeGmcahg3t6MsgAqkcPNA7d6tjxaWE2yd7Os7/w476-h306/1.jpeg" width="476" /></a></div></i></div></div>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-73416845285214024662023-06-06T20:47:00.003-07:002023-06-06T20:47:28.103-07:00Decision Support SystemA decision support system (DSS) is a computer-based information systems designed in such a way that help used to support determinations, judgments, and courses of action in an organization or a business. <br /><br />Decision support systems are a subset of business intelligence aimed at helping organizations make informed business decisions based on vast troves of analysed data. It helps corporate to increase market share, reduce costs, increase profitability, and enhance quality. The nature of problem itself plays the main role in a process of decision making. <br /><br />The decision maker employs computer technology to: (a) organize the information into problem factors, (b) attach all the attributes to a model, (c) use the framework/ model to simulate alternatives, and (d) select the best course of action. <br /><br />The DSS can either be completely computerized or powered by humans. In some cases, it may combine both. The ideal systems analyse information and actually make decisions for the user. <br /><br />DSS assists decision makers in semi-structured and unstructured problems (which cannot be solved by standard procedural methods or tools), employing human judgment and computers. A structured decision is one in which the phases of the decision-making process (intelligence, design, and choice) have standardized procedures, clear objectives, and clearly specified input and output. <br /><br />An unstructured decision is one where not all of the decision-making phases are structured and human intuition plays an important role. <br /><br />DSS carries out all parts of the decision-making process: intelligence, design, choice and implementation.<br /><b><span style="color: #3d85c6;">Decision Support System<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmjysKlIsDqOm_ztp52gBdHp7CDdqyA0YLUEWNRHvNYeqTHm755o15xv7Amy-Y0RytA9ajESniEWinsf0oPnT-hywAfzpELhWCI83iw8ldd_-PraktD-zHOeU0NcjSFYDx9cOt_FiZWWCfZ3DP4luLKgXKWoGHUNrwsPSpLnrGNXhEuWMY8w/s1439/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1159" data-original-width="1439" height="344" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjmjysKlIsDqOm_ztp52gBdHp7CDdqyA0YLUEWNRHvNYeqTHm755o15xv7Amy-Y0RytA9ajESniEWinsf0oPnT-hywAfzpELhWCI83iw8ldd_-PraktD-zHOeU0NcjSFYDx9cOt_FiZWWCfZ3DP4luLKgXKWoGHUNrwsPSpLnrGNXhEuWMY8w/w426-h344/1.jpg" width="426" /></a></div></span></b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-55501522357034419672023-05-14T07:46:00.005-07:002023-05-14T07:46:56.899-07:00Search Engine Marketing (SEM)Search Engine is an internet-based tool that searches an index of documents for a particular term, phrase or text specified by the user. Commonly used to refer to large web-based search engines that search through billions of pages on the internet. <br /><br />Search engine marketing is defined as a series of actions that are aimed at increasing visibility of a website in the search engines through both paid and free processes. The main goal of these processes is to increase the visibility of a website and gain traffic, in order to increase sales and conversions. <br /><br />It represents a part of the internet marketing. SEM may incorporate search engine optimization (SEO), which adjusts or rewrites website content and site architecture to achieve a higher ranking in search engine results pages to enhance pay per click (PPC) listings. <br /><br />These two represent two different approaches which both have the same goal, how to increase the position, i.e., visibility of a website in the search engines. <br /><br />High search engine rankings are the perfect way to get more website visitors, more customers and more sales. <br /><br />Search engines use mathematical formulas to determine the rank of a web page. These mathematical formulas are called ranking algorithms. <br /><br />Search engines like Google or Bing find organic listings by crawling the internet with spiders that analyze the text on the website, documents, and other content. <br /><br />Spider “crawls” the web to find new documents (web pages, other documents)typically by following hyperlinks from websites already in their database. Search engines indexes the content (text, code) in these documents by adding it to their databases and then periodically updates this content. <br /><br />All major search engines use the same principle to rank websites. The exact ranking algorithms differ from search engine to search engine but the principle is the same.<br /><b><span style="color: #01ffff;">Search Engine Marketing (SEM)<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUIO-gIQUUEg5s1zoTJPdRz9TatXdlgsfvadVWnXmIJ_9J36GScQySFxh1ISKG_AstNTNI1EekZ0i2hyG3Y6OHLlW6OIyIrDlfFfbkZ9S2pJ_fMxi-lxKRumekNkuUhrElqpyhavzsto6w-ryc50sP8TMJ051lYjqNydYsl9IsK9ICWVQ1Ig/s1200/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="675" data-original-width="1200" height="277" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgUIO-gIQUUEg5s1zoTJPdRz9TatXdlgsfvadVWnXmIJ_9J36GScQySFxh1ISKG_AstNTNI1EekZ0i2hyG3Y6OHLlW6OIyIrDlfFfbkZ9S2pJ_fMxi-lxKRumekNkuUhrElqpyhavzsto6w-ryc50sP8TMJ051lYjqNydYsl9IsK9ICWVQ1Ig/w492-h277/1.jpg" width="492" /></a></div></span></b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-74970054450913352092023-04-16T19:30:00.000-07:002023-04-16T19:30:20.743-07:00Marketing intelligence systemMarketing Intelligence is the information relevant to a company’s markets, gathered andanalyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity, market penetration strategy, and market development metrics. <br /><br />Marketing intelligence system is a set of procedures and sources used by managers to obtain everyday information about pertinent developments in the marketing environment. It provides information about everyday happenings in the marketing environment. The system is primarily concerned with obtaining information about competitors, their trends and strategies, as well as their future plans. This information can be obtained from within competing organizations. <br /><br />Marketing Intelligence systems are designed to be used by marketing managers and often viewed by employees throughout an organization. They may have user interfaces that closer resemble consumer software than the software around individual data sources, which are designed for use by analysts. <br /><br />There are three main benefits that the organizations will get by systematically organizing marketing intelligence activities, which are better and faster decisions, time and cost savings, and organizational learning and new ideas. <br /><br />Marketing intelligence can be used to:<br />-Enter a new market, or expand presence in an existing market<br />-Develop new products, or adapt products to customer preference<br />-Tailor marketing effort to customer preference<br />-Establish and maintain a distinctive brand identity<br />-Reduce the risk of an investment decision<br /><b><span style="color: #01ffff;">Marketing intelligence system<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjw3-fPMhBtq_LDIVkSubK8IZMKPxlMnr0BGn0GWCj8fclnP-FroaP5uTl-pbk7QIAZur9PE31ux_91cFZQvKRh5nRB4tClS4ATZUTVy2VMSdJxHs8N5XV1XN9lbssOmM5S7aJf1oFo8bozMRhb8zFDdctPx0qApDvfrxvIfWeoa8fPYCE7hg/s498/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="317" data-original-width="498" height="298" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjw3-fPMhBtq_LDIVkSubK8IZMKPxlMnr0BGn0GWCj8fclnP-FroaP5uTl-pbk7QIAZur9PE31ux_91cFZQvKRh5nRB4tClS4ATZUTVy2VMSdJxHs8N5XV1XN9lbssOmM5S7aJf1oFo8bozMRhb8zFDdctPx0qApDvfrxvIfWeoa8fPYCE7hg/w468-h298/1.jpg" width="468" /></a></div></span></b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-30456036990337082082023-03-11T05:00:00.001-08:002023-03-11T05:00:07.058-08:00Price AnchoringAnchoring is a cognitive bias in which the use of an arbitrary benchmark such as a purchase price or sticker price carries a disproportionately high weight in one's decision-making process. Price anchoring refers to the practice of establishing a price point which customers can refer to when making decisions. <br /><br />In the context of a sale, the opening or initial offer is typically seen as an anchoring point. For example, if the customer first sees a men’s jacket that costs $2,200 – then see a second one that costs $1500 – he would prone to see the second shirt as cheap. <br /><br />Price anchoring is a marketing technique that is used by many businesses to influence customer behavior and drive sales. While some people may consider price anchoring to be manipulative or unethical, it is not illegal, as long as businesses use it transparently and do not engage in deceptive practices. <br /><br />People love to compare when valuing products and having an anchor price allows them to do that. <br /><br />Anchoring, or rather the degree of anchoring, is going to be heavily determined by how salient the anchor is. The more relevant the anchor seems, the more people tend to cling to it. Also, the more difficult it is to value something, the more we tend to rely on anchors.<br /><b><span style="color: #01ffff;">Price Anchoring<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjx7_dBQoep1Pz9vq6vTxbSxU-L5b0uZN3aBLLAdDpkixxqOzuVN4fWHyqfTlcyDgC0k0OMCWUszGDK8DkzzC5z4Gq6-s5RvXZtDvv7AvXnFTxrt5aXtGmVkfnQTylQYOyGOb5xy9I-BvdyJodgPGlPa-AvzKnzwaY3CNVuTqA8eLrR0_tO2Q/s1500/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1000" data-original-width="1500" height="322" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjx7_dBQoep1Pz9vq6vTxbSxU-L5b0uZN3aBLLAdDpkixxqOzuVN4fWHyqfTlcyDgC0k0OMCWUszGDK8DkzzC5z4Gq6-s5RvXZtDvv7AvXnFTxrt5aXtGmVkfnQTylQYOyGOb5xy9I-BvdyJodgPGlPa-AvzKnzwaY3CNVuTqA8eLrR0_tO2Q/w483-h322/1.jpg" width="483" /></a></div></span></b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-15351720135720803542023-02-08T07:51:00.001-08:002023-02-08T07:51:04.922-08:00 Paid Social Media MarketingPaid social media is a method of displaying advertisements or sponsored marketing messages on popular social media platforms such as Facebook, LinkedIn, Twitter, YouTube, etc. in order to have their content shared with specific new targeted audiences who are likely to be interested, either through “boosting” their organic content, or designing unique advertisements. In simple terms, “paid social” refers to social media ads. As opposed to unpaid, organic posts, paid social is sponsored, paid advertising on social channels. <br /><br />Most social media platforms enable users to use interest-based targeting to ensure ads are reaching the people who are truly interested in their content. <br /><br />Every social media channel is different. Twitter offers short-form content, Instagram focuses heavily on visual content, Facebook has its own marketplace for shopping enthusiasts, and LinkedIn is the home of networking professionals. With many different platforms to choose from and different types of adverts, paid social media advertising will allow the businesses to cater to different audiences and preferences. <br /><br />Businesses and organizations use paid promotion on social to:<br />*Increased brand awareness<br />*Promote their newest deal, content, event, etc.<br />*Generate leads<br />*Improved brand loyalty<br />*Drive conversions (including e-commerce sales) <br /><br />The advantage to paying for this type of value: Speed to market, campaign sustainability, and good old fashioned message frequency. <br /><br />Unlike traditional advertising channels, social media allows the businesses to target and focus their advertising in much more efficient ways. Data helps to know who is interested in seeing their ad and helps the businesses reach them.<br /><b><span style="color: #01ffff;">Paid Social Media Marketing<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1t757n6mssSoFoI_yf_veDAg0KN2sFdYf-I0U4JA_DiNsA6RMmfqYtomEURBPGFfDrrS8FpXop6eWW6D2yXtLhFJ-JNQbsDIozosiNJsp60IaUJ0-deLq-EH-JgdHHxuxvY2k8cvPfb5FjMY5Vuy6KEV_TzT75WQyHEj7Oi1-OUwAP37gdg/s2171/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1221" data-original-width="2171" height="269" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1t757n6mssSoFoI_yf_veDAg0KN2sFdYf-I0U4JA_DiNsA6RMmfqYtomEURBPGFfDrrS8FpXop6eWW6D2yXtLhFJ-JNQbsDIozosiNJsp60IaUJ0-deLq-EH-JgdHHxuxvY2k8cvPfb5FjMY5Vuy6KEV_TzT75WQyHEj7Oi1-OUwAP37gdg/w479-h269/1.jpg" width="479" /></a></div></span></b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-7179565591737046312022-12-25T21:52:00.007-08:002022-12-25T21:52:43.848-08:00NeuromarketingThe field of neuromarketing—or consumer neuroscience—studies the brain to predict and potentially even manipulate consumer behavior and decision making. <br /><br />Neuromarketing can be referred to the measurement of physiological and neural signals to gain insight into customers’ motivations, preferences, and decisions, which can help inform creative advertising, product development, pricing, and other marketing areas. It is the application of neuroscience and cognitive science to accurately identify customer needs, desires, and preferences. <br /><br />Neuromarketing can include the evaluation of specific advertising, marketing, packaging, content etc. to more accurately understand how customers react at the non-conscious level. <br /><br />The term neuromarketing was first introduced in 2002 by Professor Ale Smitds, from Erasmus University in Rotterdam, as a reference to the application of neuroimaging techniques in marketing research. <br /><br />Neuromarketing strategies take a precise look at consumer behavior, preferences and tendencies. They can study customers’ responses to different types of ads, campaigns, and product packaging. As a result, business owners can choose the best option among all available and improve campaigns and strategies' effectiveness. <br /><br />Neuromarketing can lower the price and increase the value of marketing research. Neuromarketing is paired with traditional methods for a more holistic approach to marketing research.<br /><b><span style="color: #3d85c6;">Neuromarketing<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVUqq8ZzQvjOXGPIx8DcQJ0zb1Wj1xuZdqMA_1iVj5eOBQi1m_h38FMVmOmVbW_bPLPK0imxJRVIMXh7-Ton-C4vKzqSAuemDNxQkFR94vWXxq2BTzSLzadm4nl1tGaN7d9-qvdbCNrt44qzpc9iLx64trKwOBXrATR6nDvWxlCoRcbSy-qA/s471/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="423" data-original-width="471" height="425" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVUqq8ZzQvjOXGPIx8DcQJ0zb1Wj1xuZdqMA_1iVj5eOBQi1m_h38FMVmOmVbW_bPLPK0imxJRVIMXh7-Ton-C4vKzqSAuemDNxQkFR94vWXxq2BTzSLzadm4nl1tGaN7d9-qvdbCNrt44qzpc9iLx64trKwOBXrATR6nDvWxlCoRcbSy-qA/w473-h425/1.jpg" width="473" /></a></div></span></b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-42245793549958483652022-11-28T19:35:00.004-08:002022-11-28T19:35:41.652-08:00Search Engine OptimizationSearch Engine Optimization or SEO is the process used to optimize a website's technical configuration, content relevance and link popularity so its pages can become easily findable, more relevant and popular. It aims to improve the website’s position in search results pages. The higher the website is listed; the more people will see it and that means more traffic and more opportunities to convert prospects into customers. <br /><br />Search engines recommend SEO efforts that benefit both the user search experience and page’s ranking, by featuring content that fulfills user search needs. This includes the use of relevant keywords in titles, meta descriptions, and headlines, featuring descriptive URLs with keywords rather than strings of numbers, and schema markup to specify the page's content meaning, among other SEO best practices. <br /><br />Some good SEO techniques include:<br />*Publishing the highest-quality text content on your website:<br />*Creating a user-friendly interface<br />*Sharing your page link on social media <br /><br />The reason SEO is critical is because all the time the content creator put into generating great content and on-page SEO optimization improves the usability of the site. This creates a seamless and positive customer experience.<br /><b><span style="color: #01ffff;">Search Engine Optimization<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjV5LUfBUgL2pn8DI5d4EjRXFieC2VB2gYWqtxbj_LyCw1_AtR88IglA6VUNRmWd1bjLg7Qb2KbOty3Ew0huyaXAPh9HG_7xhCsOhpmT6FHsveZm0PPbkIO4mDREXF2uT90tdlp_BHNDCYOp37cuTIeUXg8gPFp6g1zYxLIyo1jX3fMRh8Z-Q/s570/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="270" data-original-width="570" height="239" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjV5LUfBUgL2pn8DI5d4EjRXFieC2VB2gYWqtxbj_LyCw1_AtR88IglA6VUNRmWd1bjLg7Qb2KbOty3Ew0huyaXAPh9HG_7xhCsOhpmT6FHsveZm0PPbkIO4mDREXF2uT90tdlp_BHNDCYOp37cuTIeUXg8gPFp6g1zYxLIyo1jX3fMRh8Z-Q/w502-h239/1.jpg" width="502" /></a></div></span></b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-43003485439141636232022-11-05T20:49:00.004-07:002022-11-05T20:49:41.386-07:00Social Media MarketingSocial media is a computer-based technology that facilitates the sharing of ideas, thoughts, and information through the building of virtual networks and communities. Social media marketing (also known as digital marketing and e-marketing) uses social media and social networks—like Facebook, Twitter, and Instagram—to market products and services, engage with existing customers, and reach new ones. <br /><br />Social media marketing is the easiest way to reach an enormous audience — nowadays a half of the global population, 3.8 billion people, use social media. Moreover, this number is constantly growing — since 2019, social media use has grown by 9.2%. The explosive growth of the smart phone market and mobile computing is affecting the strategy, as social media connectivity is becoming easier and is helping social media glow even faster. <br /><br />The five main components of social marketing are:<br />*It focuses on behavior change<br />*Voluntary using<br />*Marketing principles and techniques<br />*Select and influence a target audience<br />*Benefit <br /><br />The power of social media marketing comes from the unparalleled capacity of social media in three core marketing areas: connection, interaction, and customer data. Social media plays a hybrid role in the promotion mix. It allows companies to talk to their clientele and, at the same time, it allows regulars to talk to one another. <br /><br />Among other advantages of social media marketing for business include: increased brand awareness. more inbound traffic, improved search engine rankings, higher conversion rates. better customer satisfaction. <br /><br />Big brands make use of the social media to convey their strong existence and friendly customer relationship. Big brands like IBM, Dell and Burger King have made use of the social media to a greater extent. <br /><br />The largest social media networks include:<br />*Blogging<br />*Twitter and Micro Blogging<br />*Facebook<br />*Instagram<br />*YouTube<br />*TikTok <br /><br />For businesses, social media is an indispensable tool. Companies use the platform to find and engage with customers, drive sales through advertising and promotion, gauge consumer trends, and offer customer service or support. <br /><br />Social media transformed not only the way people connect with one another but also the way businesses are able to influence consumer behavior—from promoting content that drives engagement to extracting geographic, demographic, and personal information that makes messaging resonate with users.<br /><b><span style="color: #01ffff;">Social Media Marketing<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2vtltfP-N6KX0ilAo9ZpNOu3AWrSFnSkNHdEhUOmVs2sSw-pURCgCzMyBteYnnZdrFEefekqwPI7zIg0TQycgy5pAJ-2O0UV8wC2f21uMusoW8-T8o8xisNo6pxAy1Sz0mMC1mvjD8D-WzWMETg0EInTcT5vQCkneqqB6wsRuJjZO92IToQ/s438/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="420" data-original-width="438" height="441" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2vtltfP-N6KX0ilAo9ZpNOu3AWrSFnSkNHdEhUOmVs2sSw-pURCgCzMyBteYnnZdrFEefekqwPI7zIg0TQycgy5pAJ-2O0UV8wC2f21uMusoW8-T8o8xisNo6pxAy1Sz0mMC1mvjD8D-WzWMETg0EInTcT5vQCkneqqB6wsRuJjZO92IToQ/w460-h441/1.jpg" width="460" /></a></div></span></b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-13816648081259922822022-10-04T22:30:00.001-07:002022-10-04T22:30:23.095-07:00Digital marketingThe term digital marketing refers to the use of digital channels to market products and services in order to reach consumers. It is the promotion of brands to connect with potential customers using the internet and other forms of digital communication. Digital marketing became popular with the advent of the internet in the 1990s. <br /><br />In practice, digital marketing is a marketing campaigns that appear on a computer, phone, tablet, or other device used to reach consumers online. It can take many forms, including the use of websites, online video, social media, search engines, and other similar channels. <br /><br />Digital marketing can be broadly broken into 8 main categories including: Search Engine Optimization, Pay-per-Click, Social Media Marketing, Content Marketing, Email Marketing, Mobile Marketing, Marketing Analytics and Affiliate Marketing. <br /><br />For example, in Search Engine Optimization, it’s goal is to get a business to rank higher in Google search results, ultimately increasing search engine traffic to the business’s website. To accomplish this, SEO marketers research words and phrases consumers are using to search for information online, and use those terms in their own content. <br /><br />Compared to traditional marketing, online marketing is extremely cost-effective. The marketer can advertise online, whether on social media, websites, or search engines, he can set his budget and bid for ad space.<br /><b><span style="color: #01ffff;">Digital marketing<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXtAcqhtmpW8KVxEal-kOxRQYgubbvdcR46HmSvOHNXliwndWRdfHyT3ZOarUNAf0NsRM5dEj9rFhu3ReMB_nYpqm6WH72Xhv7AA0ITkBaUb78uHyJypMBYOh38juUVbdKjSQ1FmrKOb83iej4uW5Rg5w6VLBGvH-4Apv4v041ZW7KKzYw2A/s640/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="419" data-original-width="640" height="289" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhXtAcqhtmpW8KVxEal-kOxRQYgubbvdcR46HmSvOHNXliwndWRdfHyT3ZOarUNAf0NsRM5dEj9rFhu3ReMB_nYpqm6WH72Xhv7AA0ITkBaUb78uHyJypMBYOh38juUVbdKjSQ1FmrKOb83iej4uW5Rg5w6VLBGvH-4Apv4v041ZW7KKzYw2A/w440-h289/1.jpg" width="440" /></a></div></span></b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-20932583537667632882022-08-31T08:46:00.004-07:002022-08-31T08:46:35.979-07:00Marketing channelOne of the most important elements of marketing mix is the marketing channel. A marketing channel is a set of practices or activities necessary to transfer the ownership of goods, and to move goods, from the point of production to the point of consumption. <br /><br />Marketing channel is created through a series of relationships between middlemen, or intermediaries, who sell the product or service on behalf of the company. There are a variety of different channels that help professionals manage sales and develop an effective marketing strategy for their business. Each channel may serve a different purpose such as building a brand identity or communicating information about a new product. <br /><br />Examples include trade shows, industry events, targeted emails, outbound calling, display advertising and direct sales. <br /><br />There are basically four types or categories of marketing channels:<br />*Direct selling;<br />*Selling through intermediaries;<br />*Dual distribution; and<br />*Reverse channels. <br /><br />Marketing channels are important for the business as they:<br />*Bring the offering to market<br />*Help business reach its intended target audience<br />*Help the brand build relationships with customers<br />*Promote and sell the product or service on behalf of the manufacturer<br /><span style="color: #01ffff;"><b>Marketing channel<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCO72YgVIZwOeJnaZHNi0YOxsw3L40vD38SaWd2mPt2iTAhAk8UtKzYGNVWzS-NrRV2YWKdoossbrk0uR6mQV1rCdbVlW9JHMXDQ9PTUubsL4Wl2b2Tu0xMtFfKixCTQ3Kyy9_D-Hdyi4w0O0E9uL5ftHkUBLgzSQmLGlXv8CL8JMVlRNSoA/s1198/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="1198" data-original-width="1080" height="394" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiCO72YgVIZwOeJnaZHNi0YOxsw3L40vD38SaWd2mPt2iTAhAk8UtKzYGNVWzS-NrRV2YWKdoossbrk0uR6mQV1rCdbVlW9JHMXDQ9PTUubsL4Wl2b2Tu0xMtFfKixCTQ3Kyy9_D-Hdyi4w0O0E9uL5ftHkUBLgzSQmLGlXv8CL8JMVlRNSoA/w355-h394/1.jpg" width="355" /></a></div></b></span>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-14458027314346879582022-08-05T09:04:00.001-07:002022-08-05T09:04:03.371-07:00Psychological pricingPricing can be used as a marketing strategy or as a way to increase perceptions of quality. Sometimes it’s baked directly into a brand’s ethos. Implementing a well-considered pricing strategy involves researching competitors, understanding the target audience, and keeping up to date with trends and changes in the market. <br /><br />Psychological pricing is used to influence a customer’s spending or shopping habits to make more or higher value sales. It is a pricing strategy that utilizes the power of psychology or the subconscious to influence customers to spend more. Psychological pricing is part of wider pricing strategy. It’s a strategy in itself with numerous tactics that are designed to appeal to a customer’s emotional, rather than rational, response to prices. <br /><br />Research has shown that certain ways of formatting prices can spark a subconscious response from a customer and encourage a purchase. Inexpensive and easy to implement, these tactics can be used in addition to pricing strategies to boost their effectiveness. <br /><br />There are 6 types of psychological pricing<br />*Charm pricing and odd-even pricing - Psychological pricing also relies on simple changes that trick the brain. Businesses knock a rounded dollar figure down by one cent. An item that is priced $3.99 but conveyed by the consumer as 3 dollars and not 4 dollars, treating $3.99 as a lower price than $4.00.<br />*Slashing the MSRP<br />*Artificial time constraints - Stores employ time restrictions because they act as a catalyst for consumers to spend. The psychological tactic creates a sense of fear in consumers. If they don’t act now, they risk missing out.<br />*Innumeracy<br />*Price appearance - How a price looks to the naked eye impacts the psyche. Longer prices appear to be more expensive than shorter prices, even if they’re the same number.<br />*Flat-rate bias<br /><b><span style="color: #01ffff;">Psychological pricing<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5zxXWrbP3tnUHaZ8BVYqAYEbNX6Ax2pnmgl4dWElgLmTKTf2AYiU1-rsyeKWvT72A0KfxAGyL76vF_xnC9GCOvp1zL7cEWwSf0vQPlcxYUYWRjqDRzs0sjwq6bo-0I6ubfkhpz4LiAtyczi6HQ5EYsbMtLiGyXiOwHnLdZfALlZ2wKOQ0cw/s960/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="960" data-original-width="779" height="440" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi5zxXWrbP3tnUHaZ8BVYqAYEbNX6Ax2pnmgl4dWElgLmTKTf2AYiU1-rsyeKWvT72A0KfxAGyL76vF_xnC9GCOvp1zL7cEWwSf0vQPlcxYUYWRjqDRzs0sjwq6bo-0I6ubfkhpz4LiAtyczi6HQ5EYsbMtLiGyXiOwHnLdZfALlZ2wKOQ0cw/w358-h440/1.jpg" width="358" /></a></div></span></b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-36891876387731957122022-07-12T20:14:00.005-07:002022-07-12T20:14:37.878-07:00Internet marketingMarketing is always about reaching customers where they are. TV commercials, print advertisements, and billboards all attempt to do just that. Marketers have always gone wherever they can connect with people in order to promote their products and services – and the internet is one of place to do just that. <br /><br />Internet marketing (also known as online marketing, digital marketing, e-marketing, or web marketing) refers to the strategies used to market products and services online and through other digital means. Internet marketing is an umbrella term that covers a wide range of marketing strategies and avenues. Unlike traditional marketing represented by TV, radio, newspaper ads, banners and billboards, prints and brochures that take place in the physical world, internet marketing functions online. <br /><br />These can include a variety of online platforms, tools, and content delivery systems, such as: digital channels, including email, social media, websites, and search engines, to reach the ideal audience. <br /><br />With more than 4.8 billion people using the internet today, internet marketing is one of the easiest and most affordable ways to reach your prospects. Internet marketing uses customers' online activity to connect them with a business by reaching them in a variety of places on the internet. <br /><br />The types of internet marketing a business uses will depend on the business model, types of products, target customers, budget, and more. With content marketing, gone are the days of hopeful sales pitches and traditional marketing. Now, businesses can target their audience with pinpoint accuracy and provide useful information that resonates.<br /><b>Internet marketing<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWSDcW_-l3IXhCBPCrGfSBgtxAJLF7JQdNKG0YpMO92hmNE2JjvWPF0XitFEwDQTW4uPYb8Rx2GPB8lQEC8IGGv2TTgnPeqApWMpsZVzX0aggCN5Q2ZfTd6rh7qzTnXbeTRAtT5hqPkZNh7bc8lHPIVGuBYIjzagaVcDuSmuUr5ABWHcPV3A/s801/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="801" data-original-width="545" height="443" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWSDcW_-l3IXhCBPCrGfSBgtxAJLF7JQdNKG0YpMO92hmNE2JjvWPF0XitFEwDQTW4uPYb8Rx2GPB8lQEC8IGGv2TTgnPeqApWMpsZVzX0aggCN5Q2ZfTd6rh7qzTnXbeTRAtT5hqPkZNh7bc8lHPIVGuBYIjzagaVcDuSmuUr5ABWHcPV3A/w302-h443/1.jpg" width="302" /></a></div></b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-41179550244308003892022-06-08T18:21:00.005-07:002022-06-08T18:21:39.497-07:00Distribution channel A distribution channel is a path that a good or service follows from production or manufacturing to the final consumer/buyer. Conversely, it also describes the pathway payments make from the end consumer to the original vendor. Distribution channels are important to businesses as they allow for the smooth delivery of goods or services to a customer. <br /><br />A distribution channel represents a chain of businesses or intermediaries through which the final buyer purchases a good or service. A distribution channel can also provide a sense of how money flows back from the buyers to the producer or original point of sale. <br /><br />The route can be as short as a direct interaction between the company and the customer or can include several interconnected intermediaries like wholesalers, distributors, retailers, etc. <br /><br />Distribution channel have direct impact over sales. There are many types, formats, and levels of distribution channels. <br /><br />Distribution channels vary but typically include a producer, a wholesaler, a retailer, and the end buyer/consumer. <br /><br />There are three ways to make sure a product gets to the final consumer: Direct channel, indirect channel, hybrid channel. Which distribution channel(s) a business uses will be based on overall business goals and structure.<br /><b><span style="color: #01ffff;">Distribution channel<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYskYOpaaICVxsq_dGTC9qlFoMVCEMGJlLaZqOvZTI9ZLzeno9VpzezwLGz2Q7TJqWjH0xd4ybBJYVgQMe5f9ssUUISFaYMB_L6FTFbCXI1UPd-AucLwD5io8C0qW4YmF_4MNdJvBfYUne3TwbvHkQ5LmcZ52t0sIsrOWXZmsoDqhXnNrV6w/s640/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="360" data-original-width="640" height="248" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjYskYOpaaICVxsq_dGTC9qlFoMVCEMGJlLaZqOvZTI9ZLzeno9VpzezwLGz2Q7TJqWjH0xd4ybBJYVgQMe5f9ssUUISFaYMB_L6FTFbCXI1UPd-AucLwD5io8C0qW4YmF_4MNdJvBfYUne3TwbvHkQ5LmcZ52t0sIsrOWXZmsoDqhXnNrV6w/w441-h248/1.jpg" width="441" /></a></div></span></b>Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-11828698771917623262022-05-09T09:14:00.005-07:002022-05-09T09:14:43.708-07:00What is competitive intelligence?Competitive intelligence is a systematic program of analytical and intellectual process for gathering and analyzing information about competitors’’ activities and general business trends to further strengthening the future competitive position of the organization.<br />
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It is a management discipline that propels the decision maker to smarter more successful decisions, thereby minimizing risk, avoiding blindsided and getting it right the first time.<br />
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The traditional function of competitive intelligence has been to explain and predict competitor behavior in order to guide strategy.<br />
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The importance of intelligence is increasing for business. Competitive intelligence is often forward-looking, providing corporate strategic planners with potentials response scenarios of competitors to various strategic options.<br />
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Competence, technology and processes are the essential elements needed in the implementation of successful intelligence independent of what organization chosen to establish. It is also a continuous process undertaken as part of the overall strategy as well as an outcome.<br />
<b>What is competitive intelligence?<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFXlJKugu1jjMJId-DP5-B8I1G4wvRsvbzhgih3F0ddw3kK-bzG_RTNasogvDs14nR2iAFUkO2lltbwP3zLYeNtA76vXZCD110JAdooNpQ70ezzA0OyQgNade8XOJMKXZ3bI43bpABgEB4AXHb3Ot9_bqCXV_94OsSp9WHlVwPekXv9T_hSA/s640/1.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="640" data-original-width="640" height="433" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiFXlJKugu1jjMJId-DP5-B8I1G4wvRsvbzhgih3F0ddw3kK-bzG_RTNasogvDs14nR2iAFUkO2lltbwP3zLYeNtA76vXZCD110JAdooNpQ70ezzA0OyQgNade8XOJMKXZ3bI43bpABgEB4AXHb3Ot9_bqCXV_94OsSp9WHlVwPekXv9T_hSA/w433-h433/1.jpg" width="433" /></a></div></b><br />
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Unknownnoreply@blogger.comtag:blogger.com,1999:blog-37874889.post-90421736142460872852022-03-31T07:58:00.006-07:002022-03-31T07:58:40.702-07:00Direct marketing strategyDirect marketing is when a company advertises their product or service directly to the public. Direct marketing consists of any marketing that relies on direct communication or distribution to individual consumers, rather than through a third party such as mass media. The audience in a direct marketing campaign is highly specific, to allow for refined results. <br /><br />The method of communication by the advertiser or marketer can take many different formats, like direct mail, telemarketing, or through social ads. Social media can also help to increase website traffic, spark sales and improve search ranking. <br /><br />One of the most interesting methods is direct email marketing. Email marketing is a simple, cost-effective and measurable way of reaching your customers. Email marketing lets the marketer create messages that are targeted and personalized to help build meaningful relationships with the customers. It can also improve response rates to marketer’s direct marketing campaigns. <br /><br />Now, while other advertising methods aim to educate prospects about a brand’s services or products, direct marketing solely intends to persuade the recipient to take a specific action. This strategy achieves this by providing calls to action (CTAs) that prompt the customer to act. <br /><br />The most effective direct marketing campaigns use lists of targeted prospects in order to send their messages only to the likeliest prospects. For example, the lists might target families who have recently had a baby, new homeowners, or recent retirees with products or services that they are most likely to need.<br /><b><span style="color: #01ffff;">Direct marketing strategy<div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh2MXkBYVGtatgQjgTPzPs90Vuvh411MqWjA_WY4-IGxEkVM-bhtmviTFBjAy8O1JV9HBPbtDblP-MiAuSpSHYV5CMo7UoakGzlTWOsBT2TquixUeATUN-AgUmifZkjviIA0IG05N4EBAg0yCLbljSUVDFhejarruJ6f5M1mqOMcshYmchKrA/s715/2.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="715" data-original-width="605" height="420" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh2MXkBYVGtatgQjgTPzPs90Vuvh411MqWjA_WY4-IGxEkVM-bhtmviTFBjAy8O1JV9HBPbtDblP-MiAuSpSHYV5CMo7UoakGzlTWOsBT2TquixUeATUN-AgUmifZkjviIA0IG05N4EBAg0yCLbljSUVDFhejarruJ6f5M1mqOMcshYmchKrA/w356-h420/2.jpg" width="356" /></a></div></span></b>Unknownnoreply@blogger.com