Marketing includes a very important concept that is marketing mix; it has four major components that are promotion, people, price, and place. Nevertheless, in the marketing mix after the product, the second most important factor is the kind of price that is being used. This is because the distribution and the promotion mix can be modified by the kind of pricing being used. It can be an enormous job to set up the correct price for products and services while establishing a new company and it could be equally for a company that has a year of existence on the market.… Read the rest
Sales person use sale forces as a step to enhance their marketing strategy. The improvements of technology helped sales person able to structure their customers’ data managements well. Sales force automation is a system that being develop to helps companies to organize their customer relationship management with confidentiality. Besides automatically computerized customers data into computer, it helps enable sales person to plan and structures their selling in the most effective way as well. It makes work easier and organized as well as more reliable for sales person. In short, sales force automation system is a good “assistant” for sales person. However, sales force automation system also brings some disadvantages where sales force automation system is complicated system involving digitalized figure yet new for older sales people.… Read the rest
In over two decades, the business strategy of introducing new products as extensions has become popular. Similarly, brand extension is considered as a key to developing a brand. In detail, it is widely used as eight out of ten new products are introduced as a brand extension in the market. Brand extension strategies are broadly applied in order to reduce marketing expense in launching new products, enhance the well-known and quality of core brands, and lessen the risk for companies.
Brand extension is defined as a product whose nature and function differ from those of products currently commercialized under the brand name.… Read the rest
The success of advertisement depends very much upon the copy of advertisement. The main aim of the advertisement is to attract the customer and create an urge to possess that product. If the advertisement does not fulfill this objective, the expensive advertisements are useless. Hence, the advertisement copy should be drafted very carefully.
The person who drafts the advertisement copy must be thoroughly acquainted with the mental process. He should be imaginative enough to think of words and patterns which would produce the desired effect on the prospective customer. An effective copy of advertisement should posses the following characteristics, qualities or values:
- Attention Value: An Advertisement copy must attract the attention of the potential consumers.
The advertising medium refers to the means through which the advertiser can convey his message to audience. Proper selection of the media enables the advertiser to achieve the desired results. Hence, advertising media selection is vital for the success of an advertising campaign.
An advertising medium is any object or device that carries the advertising message. It should be capable of accomplishing following three objectives:
- To reach the largest number of people possible.
- To gain their attention.
- To be less expensive.
The character of the medium is largely determined on the objective and factual basis such as whether the coverage of the medium should be national, regional or only local.… Read the rest
Sales force management is one of the important task for industrial marketing managers where they take great care in selecting the right personnel who can help them to increase their sales. They also give their sales team proper product training, supervise their performance, frequently motivate them by offering compensations, and at the same time control the expenses incurred.
There are various steps that are involved in the industrial sales force management.1. Selection of Sales Personnel
Personal selling starts with selecting the salesperson who acts as the representative of an organization. They help to create an image and reputation of the company apart from increasing the sales by offering various products and services to the industrial buyers.… Read the rest