...summer population of 54,000 and a winter total of 9000. Each of the new franchises will be located in areas with varying populations, and the size will heavily influence the amount of demand generated for Candy Andy’s products. Therefore, this projection is not directly repeatable throughout each of the 24 franchises. This projection also assumes that sales will be consistent throughout three years. This is not a reasonable assumption, especially since it is highly unlikely that all 24 stores will be ready and open within the first year. This chart assumes that TURG has the necessary capital to build 24 franchise stores before day 1 of the first year following the deal. This is extremely unlikely, as building and implementing the new franchise stores will take a substantial amount of time and capital. When making her decision, Edith must consider how she would adjust her current marketing efforts if she declines the franchise offer. Her current marketing strategy involving AdMad costs $4500 per month. Her return on marketing investment is extremely low, since she has not noticed a significant change in Candy Andy’s sales. If Edith keeps her business, she will need to hire a new marketing firm to transform her current advertising and promotions efforts. Her current promotional methods using magazine ads, yellow pages and brochures are not effective, as these mediums are outdated. Edith should consider hiring a marketing firm that will utilize social media to market Candy...
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...analyzing the sales approach of the organization that sells the product or service you have chosen. Describe the role of the sales professional and present your own personal selling philosophy. • Describe the personal selling role *comp 1 1 of 3 for this product (consultative, strategic, or partnership). What are the expectations of the personal selling role within the company? • There are three primary differentiators that mark a Consultative Salesperson: • - They ask more questions. • - They provide customized vs. vs. generic solutions. • - Their calls are more interactive. • - They provide insights to their prospects and customers http://www.richardson.com/Who-We-Are/Thought-Leadership/Defining-Consultative-Selling/ • Consultative Selling is all about the dialogue between the salesperson and the customer. The word dialogue comes from the Greek and means “to learn.” In Consultative Selling, the salesperson learns about customer needs before talking product. Product knowledge is transformed into a tailored solution when the solution is delivered and positioned based on the customer’s needs and language. http://www.richardson.com/Who-We-Are/Thought-Leadership/Defining-Consultative-Selling/ • With Consultative Selling, the customer’s needs come first. Needs are identified through a combination of preparation and effective probing and drilling-down into customer answers. Consultative Selling took the hard edge from product selling and replaced it...
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...and services as well as to promote causes, market political candidates, and deal with societal problems such as alcohol and drug abuse. Consumers are finding it increasingly difficult to avoid the efforts of marketers, who are constantly searching for new ways to communicate with them. Most of the people involved in advertising and promotion will tell you that there is no more dynamic and fascinating a field to either practice or study. However, they will also tell you that the field is undergoing dramatic changes that are changing advertising and promotion forever. The changes are coming from all sides—clients demanding better results from their advertising and promotional dollars; lean but highly creative smaller ad agencies; sales promotion and direct-marketing firms, as well as interactive agencies, which want a larger share of the billions of dollars companies spend each year promoting their products and services; consumers who no longer respond to traditional forms of advertising; and new technologies that may reinvent the very process of advertising. As the new millennium begins, we are experiencing perhaps the most dynamic and revolutionary changes of any era in the history of marketing, as well as advertising and promotion. These changes are being driven by advances in technology and developments...
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...promotion - personal selling Introduction Personal selling can be defined as follows: Personal selling is oral communication with potential buyers of a product with the intention of making a sale. The personal selling may focus initially on developing a relationship with the potential buyer, but will always ultimately end with an attempt to "close the sale" Personal selling is one of the oldest forms of promotion. It involves the use of a sales force to support a push strategy (encouraging intermediaries to buy the product) or a pull strategy (where the role of the sales force may be limited to supporting retailers and providing after-sales service). What are the main roles of the sales force? Kotler describes six main activities of a sales force: (1) Prospecting - trying to find new customers (2) Communicating - with existing and potential customers about the product range (3) Selling - contact with the customer, answering questions and trying to close the sale (4) Servicing - providing support and service to the customer in the period up to delivery and also post-sale (5) Information gathering - obtaining information about the market to feedback into the marketing planning process (6) Allocating - in times of product shortage, the sales force may have the power to decide how available stocks are allocated What are the advantages of using personal selling as a means of promotion? • Personal selling is a face-to-face activity; customers therefore obtain a relatively high degree...
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...products and services as well as to promote causes, market political candidates, and deal with societal problems such as alcohol and drug abuse. Consumers are finding it increasingly difficult to avoid the efforts of marketers, who are constantly searching for new ways to communicate with them. Most of the people involved in advertising and promotion will tell you that there is no more dynamic and fascinating a field to either practice or study. However, they will also tell you that the field is undergoing dramatic changes that are changing advertising and promotion forever. The changes are coming from all sides—clients demanding better results from their advertising and promotional dollars; lean but highly creative smaller ad agencies; sales promotion and direct-marketing firms, as well as interactive agencies, which want a larger share of the billions of dollars companies spend each year promoting their products and services; consumers who no longer respond to traditional forms of advertising; and new technologies that may reinvent the very process of advertising. As the new millennium begins, we are experiencing perhaps the most dynamic and revolutionary changes of any era in the history of marketing, as well as advertising and promotion. These changes are being driven by advances in technology and developments that have led to the rapid...
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...OUTLINE FOR AN INTERNATIONAL BUSINESS PLAN Please type your plan single-spaced. The first stage in developing an international business plan is to undertake a preliminary country analysis. Presented below are four separate sections to be completed for collection and analysis of market data and preparation of the plan: (1) Analysis: Cultural Environment; (2) Analysis: Economic; (3) Analysis: Market and Competitors; and (4) International Business Plan. The headings in each section are general and intended to provide direction to areas to explore for relevant data. Heading topic area may be emphasize or de-emphasized, depending on the nature of the firm’s product and the country being targeted. Some topic headings are unimportant for some countries and can be ignored. In the material that follows, “product” can refer to products or services. CULTURAL ANALYSIS The data obtained for this section provides vital information to guide development of the business plan and to support managers in understanding specific cultural dimensions of the country. Such information is useful to ensure the firm is effective in both developing the plan and interacting with the target market. Hence the information developed for this section serves a dual purpose both in the early stages of developing the plan and in executing the plan through interactions with country nationals. The information in this section constitute more than simple facts. Managers responsible for developing and executing the plan...
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...title: Unit 20: Sales planning and Operations Qualification: Pearson BTEC Level 5 HND Diploma in Business Submitted by: YAMIN MYO TINT Sales Planning and Operations for Toe Company Contents Introduction 2 Objectives 3 Executive Summary 4 LO 1 Understand the role of personal selling within the overall marketing strategy 6 Task (1.1) Explain how personal selling supports the promotion mix 6 Task (1.2) Compare buyer behavior and the decision making process in different situations 10 “Buying Behavior” 10 Task (1.3) analyze the role of sales teams within marketing strategy 16 LO 2: Be able to apply the principles of the selling process to a product or service. 21 Task (2.1) Prepare a sales presentation for a product or service 21 Task (2.2) Carry out sales presentation for a product or service. 25 LO 3: Understand the role and objectives of sales management 27 Task 3.1 explain how sales strategies are developed in line with corporate objectives 27 Task (3.2) explain the importance of recruitment and selection procedures 34 Task (3.3) Evaluate the role of motivation, remuneration and training sales management 37 Task (3.4) Explain how sales management organize sales activity and control sales output 48 Task (3.5) Explain the use of databases in effective sales management 51 LO 4: Be able to plan sales activity for a product or service 52 Task (4.1) Develop a sales plan for a product or service 52 Task (4.2) Investigate opportunities for selling internationally 56...
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...Direct Marketing by Geoff Lancaster © 1 Direct marketing explained Direct marketing is a collection of techniques that enables organisations to market goods and services directly to customers (business-to-customers or B2C). It is a pro-active approach to marketing that takes the product and/or service to potential customers rather than waiting for them to come to a store or other point of access. It is a form of ‘non-shop’ shopping and is sometimes referred to as ‘precision marketing’ or ‘one-to-one’ marketing. Rather than the marketing firm sending out a general communication or sales message to a large group of potential customers, even if these constitute a well-defined market segment, direct marketing tends to target specific individuals or households. In a business-to-business (B2B) context this would be an individual or a specific organisation or firm. Direct marketing is not just concerned with marketing communications. It is also concerned with distribution. In using direct marketing, the firm is making a choice to cut out the use of marketing intermediaries and sell the product or service direct to customers. This has implications for both channels of distribution and logistical decisions. Direct marketing comes in a variety of forms. It is one of the fastest growing areas of marketing and is being propelled by technical advances, particularly in the field of computer technology and the www. Academics and consultants have taken up direct marketing with enthusiasm...
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...Sales Planning And Operation Intended For Engineered Product Company(EPCO) Objective The main objective of this unit is to prepare a brief note for the learners with an understanding of Sales planning, Sales management, and the Selling process, which can be applied in different areas to maximize profit in EPCO. Summary of the Assignment Selling is very important part of any successful business, and so mostly find that they need to use the Sale Experts in some point of their business. To be good knowledge in Sales, anyone who is interested as a professional career it may need to understand the basics of selling, to practice and plan. In here, the learner get a theoretical concept of selling and sales planning, and give them the possibilities to put their personal selling skills into practice. This Unit starts with an overview of how Personal selling fits with overall marketing strategy for a business, then, the stages of the selling process as well as how to put them to use. As they will understand the basic concept about selling process, learners will indentify the role and objectives of Sales management. This is a skill which can be applied to an extensive scope of organizations. At the end, learners will be able to start Planning sales movement for a product or service of their choice-this is also an important skill that can be used in to variety situations as they move into higher level. Learning outcomes On successful completion of this unit a learner will: ...
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...succession of purchases and complete engagement. The communication process involves nine elements: two major parties (sender, receiver), two communication tools (message, media), four communication functions (encoding, decoding, response, and feedback), and noise. To communicate effectively, marketers must understand how these elements combine to communicate value to target customers. Marketers need to know what audiences they wish to reach and what responses they want. They must be good at encoding messages that take into account how the target audience decodes them. They must send messages through media that reach target audiences, and they must develop feedback channels so that they can assess an audience’s response to the message. We now examine...
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...events, experiences, persons, places, proper- ties, organizations, information, and ideas. They also operate in four different marketplaces: consumer, business, global, and nonprofit. Marketing is not done only by the marketing department. It needs to affect every aspect of the customer experience. To create a strong marketing organization, marketers must think like executives in other departments, and executives in other departments must think more like marketers. Today’s marketplace is fundamentally different as a result of major societal forces that have resulted in many new consumer and company capabilities. These forces have created new opportunities and challenges and changed marketing management significantly as companies seek new ways to achieve marketing excellence. There are five competing concepts under which organizations can choose to conduct their business: the production concept, the product concept, the selling concept, the marketing concept, and the holistic marketing concept. The first three are of limited use today. The holistic marketing concept is based on the development, design, and implementation of marketing pro- grams, processes, and activities that...
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...transforms subject matter into divisions; accuracy, clarity, relevance, sound evidence, depth, consistency, fairness, and good reasoning and has three elements; evaluative, analytical, and creative components. A critical thinker routinely examine, assess, and improve themselves a method uses intellectual standards, integrity that will create a well- reasoned answer because of the demanding process. Create the understanding that thinking does not always need to be accepted at face values. Problems occur when someone persist of people whom, without knowing lack intellectuals will often portraits displays of an undisciplined mind. This creates unconscious belief of what is more comfortable to believe, puts us into the ‘best’ light’, or serves selfish needs, thus, inability to function as rational person. According to William G. Summer (1906) depicted strong sense critical thinker cannot be rushed, are slow to believe, hold things as possible, or probable within every degrees, without certainty, and without pain, wait for evidence while resisting appeals of prejudices.” This implies adherence to intellectual standards like sound logic, accuracy, or breadth of vision influenced by a personal advantage or advantages of others. Developing fair- minded thinker through practice of understanding and catching selfishness. Establish a commitment to be compassionate and...
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...available at http://www.emerald-library.com New product launch ``mix'' in growth and mature product markets University of Strathclyde, Glasgow, UK, and University of East Anglia, Norwich, UK Keywords Marketing, Benchmarking, Product launch Abstract This research examines whether the marketing mix decisions for new product launch change over the product-market life cycle. Results raise questions about existing benchmark beliefs based on normative text-book theories. In view of new insights we suggest a number of directions for the theoretical and empirical development of the new product launch field in the marketing management discipline. New product launch ``mix'' Susan Hart 389 Nikolaos Tzokas 1. Introduction The recent flurry of attention in the new product development literature given to the actual launching of new products (Chryssochoidis and Wong, 1998; de Bennedetto, 1998; Hultink et al., 1997) has filled several important gaps in our understanding of how to launch winning new products. While these contributions have been conceived to provide a ``broad brush'' approach to describing numerous decision variables during the new product launch cycle, the research described in this paper is designed to examine an area of marketing theory in NPD for which there has been surprisingly little empirical evidence: the extent to which the marketing mix decisions for new product launch change in view of the product-market life cycle. The need to vary marketing mix decisions...
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...Marketing Strategies of Pharmaceutical Company: A Study on The ACME Laboratories Ltd. Abstract In the modern world, Bangladesh’s pharmaceutical industry plays a vital role. For pharmaceutical company there are some limitations on product promotion through the mass media, such as radio, TV and/or News paper. Thus, the total marketing system depends on marketing team. This paper presents the findings of the study conducted on the ACME Laboratories Ltd. to examine the marketing system. This study reveals that the ACME Laboratories Ltd.’s products are consumed allover the country and also globally. Their motive is to maintain the quality of the product to cope up with the existing competition. Their objective is to treatment the disease, they also set a reasonable price by considering the middle class people to get some benefit from the ACME Laboratories Ltd. They follow all possible distribution channels to make their product available to the customers and at a comfortable place. The ACME Laboratories Ltd. has also endeared to strength its network in international marketing operation to export products abroad. The company provides some motivational tools to the internal sales team. The company provides fringe benefit to these people. It is the most successive tool for the company. From the study we find that the ACME Laboratories Ltd. is a socially responsible company, and practice ethical values. From the study it has appeared that the ACME Laboratories Ltd. is facing some minor...
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...school-approved learning management system for classroom use. INYM 225 Study Unit 1 Introduction to Electronic commerce Ms Tumelo Nthutang Learning Objectives In this chapter, you will learn: • What electronic commerce is and how it has evolved in three waves of development • Why companies concentrate on revenue models and the analysis of business processes instead of business models when they undertake electronic commerce initiatives • How to identify opportunities for and barriers to electronic commerce initiatives • How economic forces have led to the development and continued growth of electronic commerce • How businesses use value chains and SWOT analysis to identify electronic commerce opportunities • How the international nature of electronic commerce affects its growth and development 3 3 Introduction Introduction • Electronic commerce began in the United States – China the leader in online retail sales since 2013 – More and more sales being made on smartphones • China is the world’s largest potential online market – Active Internet users and upward economic growth – Buyers use U.S. and domestic sites and are influenced by online reviews and discussions – Has led to online review sites and seller participation in Chinese chat and messaging sites 4 Introduction (cont’d.) • Sellers in China must account for regional differences within a diverse country – Distribution and delivery difficult without welldeveloped roads and standardized shipping practices – Some sellers...
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