Marketing & Sales

A:

The concept of marketing is for a company to find a way to present the goods or services it needs to sell to a targeted audience for whom those goods or services meet a crucial need. Successful marketing is both relevant and appealing to those who stand the best chance at buying a product.

See Full Answer
Filed Under:
  • What is scent marketing?

    Q: What is scent marketing?

    A: Scent marketing is the use of smells and aromas to strengthen the connection between customers and a brand to help sell products. Scent marketing is one of the newer frontiers in marketing strategy, and it is becoming much more widely used by companies to differentiate their products and bolster their sales.
    See Full Answer
    Filed Under:
  • How many video games are sold each year?

    Q: How many video games are sold each year?

    A: According to data from the NPD Group, the amount of video game software sold in 2012 reached $6.7 billion, or 174.8 million units. This statistic does not take into consideration the amount of revenue generated by computer games which accounted for a revenue of $380 million and 13.2 million units sold.
    See Full Answer
    Filed Under:
  • What is the difference between a wholesaler and a retailer?

    Q: What is the difference between a wholesaler and a retailer?

    A: Wholesale means "selling in large quantities" while retail means "selling in small quantities." Therefore, wholesalers sell in bulk and retailers sell in individual or smaller quantities. Most often, wholesalers do not sell directly to individual customers, but rather sell goods directly to retailers who are then able to sell to individual customers.
    See Full Answer
    Filed Under:
  • What are the four eras in the history of marketing?

    Q: What are the four eras in the history of marketing?

    A: The four eras in the history of marketing are known as the production era, sales era, marketing era and marketing control, or relationship, era. Some analyses only include the first three of these.
    See Full Answer
    Filed Under:
  • What is deceptive pricing?

    Q: What is deceptive pricing?

    A: Deceptive pricing occurs when a retailer uses a pricing gimmick to make customers believe they are getting a bargain when they are not. Deceptive pricing can include a going-out-of-business sale or a bankruptcy sale when the company is not closing.
    See Full Answer
    Filed Under:
  • What is the role of the marketing department?

    Q: What is the role of the marketing department?

    A: According to the University of Maryland, the role of the marketing department in any organization is to provide and support the organization with relevant, effective and targeted advertising and promotional ideas for the brands and services that are offered. A marketing department will help customers understand the value of the products on offer.
    See Full Answer
    Filed Under:
  • What are some examples of nonprice competition?

    Q: What are some examples of nonprice competition?

    A: Examples of nonprice competition include touting a supermarket's loyalty discount cards, banking services, extended hours, self-checkouts and online shopping. A company may seek an advantage over another by marketing a product's longevity, convenience and workmanship over comparable products. In general, nonprice competition means marketing a company's brand and quality of products as opposed to lower prices.
    See Full Answer
    Filed Under:
  • What are examples of 30-60-90 day sales plans?

    Q: What are examples of 30-60-90 day sales plans?

    A: A sample 30-60-90 day sales plan includes: the first 30 days utilizing time by training, meeting team members, learning the company's policies, reviewing client accounts and reviewing procedures; the first 60 days utilizes time by studying best practices in the industry, setting goals for the next 30 days, meeting with supervisors, getting feedback, building relationships with coworkers, finding possible mentors and continuing training; the first 90 days utilizes time by obtaining feedback and incorporating it into the sales plan while implementing new procedures and strategies. This is a sample 30-60-90 day sales plan that can be used regardless of the company or the industry.
    See Full Answer
    Filed Under:
  • What is cross merchandising?

    Q: What is cross merchandising?

    A: Cross merchandising is the practice of stores and retail locations displaying different categories of products together in an effort to push more sales and increase revenue. Some products that retailers commonly cross merchandise include batteries with electronic appliances, mobile phone covers with mobile phones and jewelry and handbags with women's dresses.
    See Full Answer
    Filed Under:
  • What are the disadvantages and advantages of e-marketing?

    Q: What are the disadvantages and advantages of e-marketing?

    A: The Houston Chronicle explains that the benefits of e-marketing or Internet marketing include convenience, increased reach, personalization, improved customer relationships, lowered marketing costs and an established social presence online. IMSolutions lists some of the disadvantages, including increased competition, a lack of personal interaction and constantly changing technology.
    See Full Answer
    Filed Under:
  • Why is global marketing important?

    Q: Why is global marketing important?

    A: Global marketing is important for businesses because it grants access to wider profit margins, huge demographic audiences and a better quality of life for consumers worldwide. Businesses that use global marketing to reach international audiences experience massive potential for prosperous expansion. Companies that take advantage of global marketing excel because consumers all over the planet regularly buy products at local retailers that are imported from other countries.
    See Full Answer
    Filed Under:
  • What is a good rhyming babysitting slogan?

    Q: What is a good rhyming babysitting slogan?

    A: "When parents are away, we save the day," is an excellent example of a catchy rhyming babysitting slogan. "I keep your kids in sight when you're out for the night, so things turn out right!" is also a great slogan.
    See Full Answer
    Filed Under:
  • What are some examples of incentives?

    Q: What are some examples of incentives?

    A: Examples of incentives in a workplace include recognition incentives, appreciation incentives, reward incentives and compensation incentives. An incentive is an event, object, item of value or an action that is intended to spur an employee to work hard. Employers use incentives to boost workplace performance and productivity of employees.
    See Full Answer
    Filed Under:
  • What is holistic marketing?

    Q: What is holistic marketing?

    A: Holistic marketing refers to a marketing strategy in which one considers the big picture of a business, its role in the economy and community and its impact on the lives of its consumers. The four key points of holistic marketing are internal marketing, integrated marketing, relationship marketing and socially responsive marketing.
    See Full Answer
    Filed Under:
  • What is the marketing planning process?

    Q: What is the marketing planning process?

    A: The marketing planning process is a road map that analyzes the business environment, investigates potential problems, identifies threats and opportunities for growth in the industry and forecasts financial projections and returns on investment and sets budgets. The marketing planning process essentially acts as a planning tool.
    See Full Answer
    Filed Under:
  • What is McDonalds' marketing strategy?

    Q: What is McDonalds' marketing strategy?

    A: McDonald's has different marketing strategies for different locations around the world, but its overall strategy is to offer consumers a great value. This was the main thinking behind the hugely successful Dollar Menu. McDonald's does not just think of great value in terms of low-cost food; it also takes the speed at which food is prepared and its atmosphere into consideration.
    See Full Answer
    Filed Under:
  • What are environmental factors in marketing?

    Q: What are environmental factors in marketing?

    A: The environmental factors in marketing include political, economic, social, technological, environmental and legal factors (PESTEL). This PESTEL analysis is a framework that marketers use to analyze and monitor these factors in the external environment, according to the Professional Academy.
    See Full Answer
    Filed Under:
  • What is the cat string theory?

    Q: What is the cat string theory?

    A: The cat string theory refers to a marketing concept called the law of scarcity; marketers entice buyers with statements like "supplies are limited" and "this offer expires on a set date." The concept is designed to enhance the value of a product or service based on its scarcity.
    See Full Answer
    Filed Under:
  • What is customer perception?

    Q: What is customer perception?

    A: Customer perception refers to how customers view a certain product based on their own conclusions. These conclusions are derived from a number of factors, such as price and overall experience.
    See Full Answer
    Filed Under:
  • What is a market summary in a marketing plan?

    Q: What is a market summary in a marketing plan?

    A: A market summary is the essence of a marketing plan. The market summary outlines, points out or highlights important points. The summary is a brief version of a marketing plan.
    See Full Answer
    Filed Under:
  • What is the definition of sales and marketing?

    Q: What is the definition of sales and marketing?

    A: Sales focuses on selling prospects and growing revenue among current customers, while marketing departments typically develop materials and create lead generation programs. Marketing teams frequently work to support sales teams.
    See Full Answer
    Filed Under: