Promotion schemes are concerned with the planning, implementation, and control of persuasive communication with customers. These schemes may be planned around advertising, personal selling, sales promotion, or any combination
of these. The first strategic issue affected here is how much money may be spent on the promotion of a specific product/market. ...
Most Recent Articles For: Business
Written by on January 30th, 2009
Written by on January 20th, 2009
Pricing has traditionally been considered a me-too variable in marketing strategy. The stable economic conditions that prevailed during the 1960s may be particularly responsible for the low status ascribed to the pricing variable. Strategically, the function of pricing has been to provide adequate return on investment. Thus, the timeworn cost-plus ...
Written by on January 17th, 2009
In a free market economy, each company tries to surpass its competitors. A competitor is a rival. A company must know, therefore, how it stands up against each competitor with regard to “arms and ammunition”—skill in maneuvering Chances, preparedness in reacting to threats, and so on. To obtain adequate knowledge ...
Written by on January 1st, 2009
A common mistake in business is poor planning and unrealistic
Expectations in terms of income and expenses. The three most common errors are:
- underestimating costs (expenses);
- overestimating how much money will come in (income);
and
- failing to recognize that money will be slower coming in
than expected.
Obviously, the end result of these errors ...
Written by on December 20th, 2008
Populations arise worldwide, so do the number of small businesses starting up. Millions of people around the world continue to choose for running their own business instead of working for larger companies. As a result, there is an incredible knowledge and skill base tied up in running these small businesses. ...
Written by on December 10th, 2008
Your business card had better jump out from the rest. It should work as a mini advertisement for your business. However, there are a few primary factors that every business card should let in. Here is a rundown of these basics for you to remember as you design your next ...
Written by on November 29th, 2008
The first logical step in defining the market is to determine customer need. Based on need, the market emerges. Because customer need provides a broad perspective of the market, it is desirable to establish market boundaries. Traditionally, market boundaries have been defined in terms of product/market scope, but
recent work suggests ...
Written by on November 25th, 2008
Businesses compete to serve customer needs. Not only are there different types
of customers, but their needs vary, too. Thus, most markets are not homogeneous.
Further, the markets that are homogeneous today may not remain so in the
future. In brief, a market represents a dynamic phenomenon that, influenced by
customer needs, evolves over ...
Written by on November 20th, 2008
Branding is about creating and keeping comprehended customer value. It is much more than laying a name on a package, showing a logo or icon, or paying a movie star a large fee to wave your product in the air. Ideally we should think of a product with better value ...