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LEARNING HOW TO PRICE YOUR PRODUCTS
April 7th at 1:16pm
These are the four basic strategies, variations of which are used in the industry. Apart from the four basic pricing strategies — premium, skimming, economy or value and penetration — there can be several other variations on these. A product is the item offered for sale. A product can be a service or an item There are four main aspects of financial modeling, and pricing is just one of them. The others are product, promotion, and place. Pricing is a very important aspect of marketing. Wholesale businesses also need to select the pricing strategies that will enable them to grow…
THE MOST CELEBRATED AMERICAN ENTREPRENEURS IN HISTORY
March 31st at 11:50pm
America is known as a melting pot of nationalities and cultures, and it has quickly become one of the most innovative nations to date. With driven natural-born citizens and immigrants, America is one of the most successful countries in terms of entrepreneurship. Andrew Carnegie, Henry Ford, Oprah Winfrey, Bill Gates, and Larry Page are among the most celebrated American entrepreneurs in history. 1. Andrew Carnegie Andrew Carnegie was an American entrepreneur who actually immigrated from Scotland. Born into the lower class, Carnegie and his family immigrated to Pennsylvania, where they lived a better lifestyle. Carnegie later founded the Carnegie Steel Company, growing it to become…
IS DIRECT MARKETING STILL EFFECTIVE?
March 24th at 11:13pm
A marketing effort that uses a mail service to deliver a promotional printed piece to your target audience. Direct mail encompasses a wide variety of marketing materials, including brochures, catalogs, postcards, newsletters and sales letters. Direct marketing that is targeted to a specific audience can help you set realistic sales goals and improve sales results on a tight marketing budget. Businesses can run effective and purposeful direct marketing campaigns at a fraction of the cost of broadcast advertising. The Data & Marketing Association reported that the direct mail customer response rate increased by 43%. Even better, the prospect response rate increased by 190%. … Direct mail is still effective and using it is a game changer for any serious marketer. Direct Marketing Channels…
HOW TO CREATE A GOOD SALES PITCH
March 17th at 11:03pm
Pitching an idea and selling it effectively can be a daunting and challenging task. Where do you start, how do you approach the prospect and what is the first thing you say? By knowing your audience, carefully crafting a pitch, and delivering the pitch confidently, you can make a successful sale and build a healthy relationship with your customers. Your sales pitch can make or break the deal, so it’s a good idea to have that nailed down before meeting with your customer. It’s your opening line, your verbal business card, and the first thing your customer will hear when…
STRATEGIES FOR YOUR SALES TEAM
March 10th at 10:54pm
A sales strategy is an approach to selling that allows an organization’s sales force to position the company and its product(s) to target customers in a meaningful, differentiated way. Most strategies involve a detailed plan of best practices and processes set out by management. There are two primary types of sales strategies: inbound and outbound. In outbound sales — the legacy system of most sales teams — companies base their sales strategy on seller actions. They rely on manually-entered data to monitor the sales pipeline and coach their salespeople, and they run sales and marketing independently, creating a disjointed experience for buyers. Top Sales Management Strategies for Sales Teams One-on-One Coaching. Encourage…
HOW TO START A PERSONAL TRAINER BUSINESS
March 3rd at 10:47pm
Do you like working out and being fit? Do you want to share your enthusiasm for fitness with others and get paid? Then a personal training business might be for you. The costs involved with opening such a business are minimal. The certification you may require should cost no more than $2000, with some programs being as low as $500. You will need to purchase liability insurance, and this should cost no more than $200-$300 a year. Here are some points to help remind you of what needs to be completed – and keep you on track! Register with a local personal training certification program.Take out public liability insurance.Open a business bank…
DO YOU NEED A MARKETING CONSULTANT?
February 24th at 10:45pm
Hiring a small business marketing consultant is a huge step for many small businesses, but a really important one. Investing in a small business marketing consultant will pay dividends for your business, but it may also put strains on other aspects of your business. As your business grows you may experience challenges with things like customer service or human resources. If you aren’t willing to invest in addressing the challenges that come up, then you should not hire a small business marketing consultant. The typical marketing consultant charges based on one of two models. First, and maybe most common, is…
FUNDING YOUR BUSINESS MARKETING
February 17th at 10:30pm
Here are ten marketing strategies that can help you market your small business on a shoestring budget. Craft an elevator pitch. You should be marketing all the time — wherever you are. …Leverage your community. Collaborate. Network. Give a speech. Create buzz. Ask for referrals. Build relationships. If you are looking for a larger more aggressive marketing campaign, its best to have a good financial funding . 10 Ways to Finance Your Business Finding financing in any economic climate can be challenging, whether you’re looking for start-up funds, capital to expand or money to hold on through the tough times. …Consider Factoring.GetTraditional Bank Financing.Use a Credit…