...Marketing Your Business Learning Team B Monique Hickley, Marvin Ray, Richard Brannen, Alonzo Julian, and Coral Nelson MKT/431 May 13, 2013 Joseph Tradii Marketing Your Business Marketing a business brings several components into operation. If a business wants to achieve success it must examine and capitalize on those components. A restaurant business must understand that importance of those major areas of marketing. Marketing a business takes time and accomplishment but when a business tend to maximize on key aspects of marketing that business tends to flourish and challenges any competition. Distribution Channels The number of hands involved when getting products to the end consumer can vary depending on how many producers, wholesalers, and retailers are involved in the channel (Entrpreneur Media, Inc., 2013). Unless the business concept is completely new, most industries have distribution channels involving purchasing goods through wholesalers and producers already in place. In other words, the business does not get to choose the distribution channel, the channel is already chosen for the business (Schindehutte, Morris, & Pitt, 2009, p. 237). Although the business concept presented here follows the traditional restaurant distribution channels in needing products, one of the biggest differences is not in the supplies needed but rather who some of the suppliers are. The restaurant will need to have traditional suppliers for some goods but the majority...
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...The Importance Of Marketing In Your Business By Carael Knight Ads by Google Small order business www.hktdc.com Meet quality suppliers in Hong Kong Int'l Lighting Fair 2012. 6-9 Apr Create More Value www.thepartnershipmodel.com Develop stronger relationships with your customers and suppliers What do customers want? ey.com/global-insurance-survey-2012 How insurers can meet evolving customer needs. The true definition of marketing is setting up automatic, repeatable systems that create an environment where people want to buy from you instead of you having to sell them. Just as a bee is lured to the nectar of a flower, business people are lured to money. Entrepreneurs are the honeybees of our economy. Ultimately the goal of an entrepreneur is to extend the life of his or her enterprise for a lifetime. As a business owner, your ultimate product is a satisfied customer. Some facts about the Internet and search engines: Over 80 percent of Internet users use search engines to find information A typical search can often generate thousands if not millions of results Only those websites listed in the top 100 will ever see any significant traffic Each day, millions of online businesses are competing for those top 100 spots The best marketing advice I can give you is find the right audience, ask people what they what, and after that, simply give it to them. Marketing is the science behind encouraging interested people to buy. The success of any business basically comes down to...
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...Online Marketing Guide Tips + Advice to Grow Your Business Through Online Marketing The Small Business Why you should be marketing online Case study: How Happy Hound gets 90% of its sales online 10 things you can do today to boost your online marketing Worksheet: How you can get started Contents 4. Why Your Business Needs to Market Online 6. 10 Ways to Use the Internet to Grow Your Business 9. Measuring Your Results 10. Tip a Day: Map Your Path to Online Success 12. Case Study: Happy Hound 13. Online Marketing: Something for Every Business 14. Key Terms 16. Worksheet Suzanne Golter of Happy Hound dog day care and boarding 2 Welcome Every day we hear from business owners who think they need special skills to reach new customers online. Overwhelmed by the number and seeming complexity of online marketing options, they sit on the sidelines, eager to get in the game but confused about where to start. Sound familiar? If so, this guide is for you. Whether you’re new to online marketing or just looking to do it better, the advice in this guide can help you reach your business goals. You’ll learn: • How many new customers you can find online • 10 ways to use the Internet to grow your business • How to measure your results • How one small business gets 90% of its sales online • Key terms and what they mean We’ve also created a daily tip sheet filled with ideas to help you get started as well as marketing plans for four different types of businesses. Get started right...
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...7 things to consider before marketing your business to China - part 1 | China Online Marketing China Online Marketing HOME ADVERTISING Search: MARKET REPORT E-COMMERCE MARKETING ONLINE GAME BLOG SEARCH ENGINE SERVICE ABOUT CONTACT REGULATION SOCIAL MEDIA GO! Topics: Select category Select category Subscribe to Posts Subscribe to Comments YOU ARE HERE: HOME / BLOG / BUSINESS CULTURE / 7 THINGS TO CONSIDER BEFORE MARKETING YOUR BUSINESS TO CHINA – PART 1 eNews & Updates Sign up to receive weekly news, blog & other Site updates about China Online Marketing! 7 things to consider before marketing your business to China – part 1 Posted by Steven Chow on April 26, 2010 · 2 Comments China’s economy is booming, we are now third largest economy in the world, and there is no argument that we will become the world’s largest economy in 10 to 20 years’ time. The 1.3 billion population, double-digit growth rate, 4 trillion economy stimulus plan…… We could feel the trend, as more and more overseas companies approach us to assist them enter the huge Chinese market. They are determined, well-equipped with excellent product or service, they are confident with their business goal in China. However, the lack in understanding of Chinese business culture and business practice could dramatically affect the ROI, the return of their investment. To put it simple, it is extremely important to figure out how the business operate in China before you start to sell in China, isn’t...
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...MARKETING PLANNING PLANNING A marketing plan ensures a systematic approach to developing products and services to meet and satisfy your customers’ needs. When you are writing a marketing plan you need to be clear about your objectives and how you'll achieve them. A good marketing plan sets clear, realistic and measurable objectives, includes deadlines, provides a budget and allocates responsibilities. A plan can consist of these elements: • Analysis of your current market • Your business objectives • Key strategies • Steps to achieving your objectives • Proposed budget • Timing. REGULAR REVIEW Marketing planning is an ongoing business activity. As your business, changes many of the strategies in your plan will need to evolve to ensure your business is still heading in the right direction. Having your plan up to date can keep you focused on where you are heading and ensure you are ready when you need it again. Before you complete your marketing plan Before you complete your business plan and start using it, consider the following: 1. Create/update your business plan - Establishing your business plan first will give you a greater understanding of how your business works. It can also help ensure your marketing strategies are in harmony with your overall business strategies and goals. 2. Do your research - You will need to make quite a few decisions about your business including structure, marketing strategies and finances before you...
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...Marketing Developing a marketing plan is one of the most important things you can do to ensure that your business will make a profit. This guide is intended to provide an overview of the importance of market research and analysis, product development, pricing, advertising, promotions, publicity, sales and customer service. Contents: Market Research Developing a Marketing Plan Mission Statement Identify products and/or services The market Competition Pricing Promotion mix Advertising Advertising Budget and Schedule Location, location, location Sales Forecasting Action Plan Production Sample Marketing Plan Outline © 2010 Curators of the University of Missouri http://www.missouribusiness.net/ January 2010 Marketing 2 Introduction Marketing touches every aspect of your business’s operation. It is a series of activities designed to identify customer needs and wants, and satisfy these while making a reasonable profit on a quality product or service. These activities include market research and analysis, product development, pricing, advertising, promotions, publicity, sales and customer service. Developing a marketing plan is one of the most important things you can do to ensure that your business will make a profit. There are six basic reasons for developing a marketing plan: g g g g g g It forces you to identify your target market. It forces you to think about both short and long-term marketing strategies. It looks at your business as a whole and ties together...
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...Online Retail Marketing By: Anatoly Denisov Report assignment: Topic 6: RTW1 School: Western Governors University Date: 12/31/2012 Anatoly Denisov Online Retailing Marketing Western Governors University (WGU) Business Research & Writing (RTW1) FTI Consulting Inc. December 20, 2012 Tables of Contents: Executive Summary……………………………………………………………………..1 Introduction……………………………………………………………………………...1 Advantages of Online retail Marketing………………………………………………....3-4 Disadvantage of Online retail Marketing………………………………………….........3-5 Potential Impact of Online Sales for Company……………………………………........5-6 Requirements for a successful Online Market Campaign…………………………........6 Recommendation………………………………………………………………………...7 Analysis on Starting an online retail marketing………………………………………...8-9 Conclusion………………………………………………………………………………9 Source page…………………………………………………………………………...10-11 Executive Summary Section: In this report will illustrate the findings and analysis done for the online marketing opportunities directed towards retail sales. This report will help guide and illustrate to viewers in all business aspect about the understanding of the advantages and well as disadvantages of marketing products and or services online. This report will also give you a better sense of how easy, fast, and convenient to market a product or service successfully and how many endless opportunities there are when promoting or establishing a product...
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...Write a marketing plan |Version no and date | | Business details |Name of business owner | | |Name of business | | |Business address | | |Post code | |Telephone | | |Home address | | |Post code | |Home telephone | | |Date business commenced | | |Legal status | ...
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...Marketing Strategy Do I need a marketing strategy? Making and using a marketing strategy has a strong positive impact on profitability. This is because firms that employ a marketing strategy tend to focus on their customers and markets, integrate their marketing responses and work out in advance where their profits will come from. This briefing answers a range of questions people in small business often ask about marketing strategy: * what is a marketing strategy? * what's the difference between marketing strategy and business strategy? * where does the marketing mix fit in? * what is a marketing plan? * what information do I need and where do I get it? * what should my marketing strategy consist of? * how do I get started? What is a marketing strategy? A marketing strategy defines objectives and describes the way you're going to satisfy customers in your chosen markets. It does not have to be written down but it is easier to communicate to outsiders, like your bank manager or other investors, when it is. A set of strategies found quite commonly in smaller businesses are growth strategies. One way to look at strategies to grow your business is through the way you will use products and markets or customers. * Current product/current market Market penetration is a strategy of increasing your share of existing markets. You might achieve this by raising customers' awareness of your products and services or finding new customers. For further information...
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...How to Create a Marketing Plan Part 1 - Introduction Firms that are successful in marketing invariably start with a marketing plan. Large companies have plans with hundreds of pages; small companies can get by with a halfdozen sheets. Put your marketing plan in a three-ring binder. Refer to it at least quarterly, but better yet monthly. Leave a tab for putting in monthly reports on sales/manufacturing; this will allow you to track performance as you follow the plan. The plan should cover one year. For small companies, this is often the best way to think about marketing. Things change, people leave, markets evolve, and customers come and go. Later on we suggest creating a section of your plan that addresses the medium- term future—two to four years down the road. But the bulk of your plan should focus on the coming year. You should allow yourself a couple of months to write the plan, even if it's only a few pages long. Developing the plan is the "heavy lifting" of marketing. While executing the plan has its challenges, deciding what to do and how to do it is marketing's greatest challenge. Most marketing plans kick off with the first of the year or with the opening of your fiscal year if it's different. Who should see your plan? All the players in the company. Firms typically keep their marketing plans very, very private for one of two very different reasons: Either they're too skimpy and management would be embarrassed to have them see the light of day, or they're solid and...
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...Introduction: E-marketing means using digital technologies to help sell your goods or services. These technologies are a valuable complement to traditional marketing methods whatever the size of your company or your business model. The basics of marketing remain the same - creating a strategy to deliver the right messages to the right people. What has changed is the number of options you have. Though businesses will continue to make use of traditional marketing methods, such as advertising, direct mail and PR, e-marketing adds a whole new element to the marketing mix. Many businesses are producing great results with e-marketing and its flexible and cost-effective nature makes it particularly suitable for small businesses. This guide describes how to develop an e-marketing plan and provides guidance on implementing that plan and monitoring its effectE-business has transformed the way companies function in today's economic marketplace. The technological advances of the past few decades have given businesses the ability to grow and expand beyond their local market. The Internet allows small businesses to reach national or global consumers with their products and services, increasing their sales and profits. Along with these advantages come some disadvantages, creating higher levels of economic challenges not previously seen. The field of entrepreneurship is widely represented on the Internet through small and large companies that perform their entire operations, or a large portion...
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...Do I need a marketing strategy? Making and using a marketing strategy has a strong positive impact on profitability. This is because small businesses that employ a marketing strategy tend to focus on their customers and markets, integrate their marketing responses and work out in advance where their profits will come from. This briefing answers a range of questions people in small business often ask about marketing strategy: * what is a marketing strategy? * what's the difference between marketing strategy and business strategy? * where does the marketing mix fit in? * what is a marketing plan? * what information do I need and where do I get it? * what should my marketing strategy consist of? * how do I get started? What is a marketing strategy? A marketing strategy defines objectives and describes the way you're going to satisfy customers in your chosen markets. It does not have to be written down but it is easier to communicate to outsiders, like your bank manager or other investors, when it is. A set of strategies found quite commonly in smaller businesses are growth strategies. One way to look at strategies to grow your business is through the way you will use products and markets or customers. * Current product/current market Market penetration is a strategy of increasing your share of existing markets. You might achieve this by raising customers' awareness of your products and services or finding new customers. For further information...
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...Thank you for your interest and for choosing Be Defined Marketing to support your organisation with its marketing needs. As part of the information gathering process, please take a few minutes to fill in this form as thoroughly as possible. The information you provide will be used to provide you with advice only and will be strictly confidential. Thank you Be Defined Marketing 1. What is the name of your company? 2. How long have you been in business? 3. Please provide a brief description of your product/service 4. What do you know about your target audience? 5. To date how have you promoted your product/service? 6. What has been successful and what hasn’t in promoting your business? 7. How would you like Be Defined Marketing to help with marketing your product/service? Are they any key issues that you need marketing support with? Thank you for your interest and for choosing Be Defined Marketing to support your organisation with its marketing needs. As part of the information gathering process, please take a few minutes to fill in this form as thoroughly as possible. The information you provide will be used to provide you with advice only and will be strictly confidential. Thank you Be Defined Marketing 1. What is the name of your company? 2. How long have you been in business? 3. Please provide a brief description of your product/service 4. What do you know about your target audience? 5. To date how have you promoted...
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...Economic Development Division Business Resource Centre Parc Amanwy, New Road Ammanford Carmarthenshire SA18 3EP T: 01269 590200 E: economic@carmarthenshire.gov.uk W: www.carmarthenshire.gov.uk Publication funded under the Celtic Enterprise & Business Support Network, an Interreg IIIA funded project, in partnership with Waterford City Enterprise Board Ltd and South East Region Enterprise Boards Managing your business > Marketing your business For all your business enquiries contact:- Page 1 Managing your business > Marketing your business 03 43121_Marketing_Your_Business 10/8/05 8:06 am Page 1 Managing your business > Marketing your business 1. INTRODUCTION – WHY YOU NEED MARKETING In order to succeed, you need cashflow. To get cashflow, you need paying customers. To get customers, you need marketing. As your own marketing director, you have to make decisions about: 3. PRICING Every product or service has a price. In order to set a price, you need to consider: Distribution ■ Advertising ■ PR ■ Selling Your pricing strategy (Cost plus, Market minus, Penetration, Skimming, etc.) Customer service levels ■ How much are your customers motivated/influenced by price? Pricing ■ ■ The product or service ■ Your cost price calculations (including pricing your time) ■ ■ ■ 2. MARKET RESEARCH The better your market research, the smarter your decisions, and the more profitable...
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...Marketing Matters Nathan D. Evans Argosy University Composition I | ENG101 A07 Module 5, Assignment 2 Benjamin Atkins November 1, 2015 Marketing Matters To have a successful business you have to have good marketing otherwise the business is missing out on money that could be made. Marketing is more than advertising and selling your products. Bizfilings.com states, “Marketing addresses all aspects of growing your customer base, and the more you know, the more successful your marketing and your business will be.” One marketing tool is to advertise to build your customer base. Another tool it to do market research. The last tool you could use is packaging your product. The first thought that comes to some peoples mind is that marketing cost too much money or that they are not good at marketing. Both of these objections can be easily be overcome. By using these marketing tools your business will be successful vs not having a market plan at all. Advertising to build your customer base is key when I comes to a successful business. The Economic Times says, “Advertising is a means of communication with the users of a product or service. Advertisements are messages paid for by those who send them and are intended to inform or influence people who receive them, as defined by the Advertising Association of the UK. Advertising is always present, though people may not be aware of it. In today's world, advertising uses every possible media to get its message through. It...
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