Conducting customer surveys via phone, direct mail, or using other printing material can cause your business more money as well as time. On the other hand, customers’ surveys via email not only save time and money but also prove very effective.

1. They are cost effective. Whether you send one email or one thousand, it doesn’t cost much more.
2. They allow you to reach participants quickly.
3. The results of these emails are immediately available most of the time. Read the rest of this entry »

Introduction

Word of mouth is still the most convincing thing in the word to be used for multipurpose targets. It is also quite according to the human nature that a person likes to be briefed and informed by other human beings. This very method of marketing is the oldest and the most authentic way which satisfies the listener readily. Here a person himself addresses the clients and convinces them of his doings or products.

Forms of Word of Mouth Marketing

Word of mouth marketing may have different forms depending upon a number of factors belonging to time, space and requirement. First of all door to door visit or person to person communication has been the most popular form of word of mouth marketing. Read the rest of this entry »

Any company requires a good launch to make its new product successfully accepted and adopted.For achieving the purpose marketing and advertising is done.Though both seem alike on a random view, yet they differ in many ways.To understand the difference between the both, we must first see the conventional explanations:

Marketing:

1. The act or process of buying and selling in a market.
2. The commercial functions involved in transferring goods from producer to consumer.

Advertisement:

1. A paid announcement, as of goods for sale, in newspapers or magazines, on radio or television, etc.
2. A public notice, esp. in print.
3. The action of making generally known; a calling to the attention of the public
   Marketing is a prior launch campaign.It is a base upon which the success of the launch depends.It provides the company with potential buyers, giving a remarkable boost to the product and the company.

Timing is the most important and basic difference between the two.Marketing should be done before the product is even launched.Whereas, advertisement is done after the product is launched.It works as a supportive element for marketing.Marketing is a wide process whereas advertisement is only one of its components.Several aims are to be met through right marketing strategies.A company gains or loses its first buyers by its marketing strategies.An effective marketing campaign targets all the potential buyers while aiming at highlighting the requirements of the buyer.The buyer is sometimes made to wait for a product as a marketing strategy.

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“I’m lovin’ it.” my nephew shouted so did my niece and then the rest of the family followed them excitedly. Yeah, we were at McDonald’s and this business slogan which in fact is extensively simple yet so fun for all age groups whether it be kids or adults, actually satisfies the aim for which it was launched in the first place , that is , to “catch people’s attention in the most decent and innocent manner possible”. The interesting note to this is that as we ate there we kind of “felt” that we are loving it. All praise to the terseness, lucidness and objectiveness of the sentence of its creator, McDonald’s and it became an award-winning advertising/business slogan.

The slogan can be defined as a noun which has the purpose to be convincing by creating some memorable phrase/expression or a motto or some musical sound often rhymed to highlight a particular concept or aim. For instance following was written on a maternity home door, “Push. Push .Push “ outrageously ironic , a laughing stock but a perfect example of a business slogan as it can grasp anyone’s’ attention and depicting a complete picture and a complete aim by just one short sentence with repetition of one word.

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Knowledge is power and power is money and money is more power and more power means more money .In short, Knowledge, money and power are bound in an unending relation and most of the time they rescue one another in bad times. However, whether knowledge gives power to mind or power of mind begets knowledge is somewhat a chicken-and-egg sort of issue.

No one can deny the importance market knowledge in any financial system. Market knowledge enables us to decide what to sale, where to sale, and how to sale. Success or failure of any product in the market mostly depends on its marketing campaign and quality and they both can’t be maintained without market knowledge.

There are two basic kinds of market knowledge e.g. bookish market knowledge and practical market knowledge.

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“Marketing and Sales- brain and body of business”

In the present epoch, Marketing is not merely about the 5 P’s anymore, infact, it is an innovative and ever-changing rock band of various instruments harmonized to accomplish the strategies and objectives of a business. Sales, however, differs from marketing. To put it in plain language, the process from market research to packaging is the function of Marketing; from packaging to the hands or reach of the customers is Sales. You may call Marketing as the “brain” and Sales as the “body” of business. However, this brain and body of business is only but a little lesser complex than the human body itself.
We don’t say that we differ with the established definition of Marketing, that is, “Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives”; we only believe that there is more to this definition once you put it in the practical scenario.

In today’s competitive global market, it involves micro and macro market analysis, focused on strategic intentions where sales is driven more by tactical challenges and customer relations, which various from industry to industry.

Marketing has to be viewed as a science than an art. We have devised this guide to Marketing and Sales as something more than just the 5 P’s to provide our readers with a practical direct. Here is a quick and easy guide!

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As a small business owner, you should spend a lot of time attempting to find local customers. It is local clients that will help you to grow your business from scratch. This is not to say that going national is a bad idea, but during the start up phase you may want to concentrate on the companies in your area that may be interested in what you have to offer. The question is: how are you going to find local customers? This may sound easy enough, but there are some steps that you need to follow for your small business to achieve success in this area.

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Before venturing out into business with any new product, it is always best to conduct a feasibility study so as to determine the chances of profitability of your proposed product in your chosen market. Most people can only dream of starting a business but do not know where to begin. Whether you are still a student, a plain housewife, or currently employed in a certain company, putting up a business that you can call your own is not an impossibility.

The financial aspect or the capital in putting up a business is normally the major concern of most potential entrepreneurs, but the equally more important factor is choosing which product or service to sell. A feasibility study is definitely a must especially for small to medium sized businesses still starting out in the market. Doing so prevents any entrepreneur from proceeding with a lackluster product or placing a competent product in the wrong location. Moreover, this helps the entrepreneur in determining which price bracket to adopt with the product.

There are businesses that have failed due to careless product pricing and distribution, and by studying the target market a business is able to determine the purchasing power of those they wish to cater to. Supposing that you have already chosen your product, and you are now beginning to conduct your feasibility study. The first thing that you have to do is to determine your target market. Start out by the commonly used demographics in researches like age, income, societal class, gender, and geography or location.

If you have a dessert as a product for example, this normally caters to most age brackets although those who are above middle-age may not be able to sample your product as often as those who are not limited by health problems. If your dessert is of the common variety like ice cream or cakes, then your market would perhaps be from the low to medium income earners, or class B and C of the societal status demographics. However if your dessert product is expensive to make and has a more luxurious appeal like an Italian gelato or a Pavlova, then your market is more limited to the class A income earners, or those who can afford more.

However, due to the higher paying capacity of this market, your product has a chance of profit when marketed well. Once you have determined your market you can now research further into the typical preferences of your targeted market. In this study, most entrepreneurs would utilize questionnaires as a way to determine the spending power of the targeted customers, how often they would buy the product if available in the market, and if this product for them is a necessity or a luxury.

Moreover, in a feasibility study, samples of the product may be given out as well. This could already be a promotional tool for an existing business, but giving out product samples can help small to medium business still in its inception greatly, especially in determining if the product needs improvement or is already ready for distribution. In the example above, if you are considering on opening a dessert goods store, you can send out samples to family, friends, and even strangers, and then solicit their opinions on the product afterwards. You can also inform them on the proposed product price, so as to know if they would buy the actual product at the said price when already distributed in the market or location. It is true that an excellent product or service will eventually be able to sell itself. However, performing a feasibility study remains to be one of the most important steps in good business planning.

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