Marketing & Sales

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:
  • How does technology affect marketing?

    Q: How does technology affect marketing?

    A: Technology makes marketing faster and more efficient by enabling companies to promote products and broadcast messages to larger audiences in shorter periods of time. Technology transcends traditional barriers to businesses and markets such as geographical location and physical presence. Companies once relied on friends, communities and neighbors to purchase products and promote business, but technologies such as computers, phones and mobile electronic devices perform the same duties in shorter periods of time.
    See Full Answer
    Filed Under:
  • How does sponsorship work?

    Q: How does sponsorship work?

    A: Sponsorship involves a benefactor supporting an individual, event or group in exchange for the ability to commercially exploit the association. The support can be financial or material by supplying needed equipment or services.
    See Full Answer
    Filed Under:
  • What is a competitive environment?

    Q: What is a competitive environment?

    A: The term "competitive environment" refers to the number and types of companies against which a given business competes in its industry. Direct competitors are those that sell very similar goods and services. Indirect competitors are those that sell unrelated goods and services, but to similar target markets.
    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 an example of mass marketing?

    Q: What is an example of mass marketing?

    A: When a company engages in mass marketing, it chooses to overlook differences among the various segments in its market and instead to appeal to the entire market with one uniform strategy or offer, and one example is the Coca-Cola television ads that appear during the winter holidays. The polar bears cavorting and drinking Coca-Cola are designed to appeal to just about everyone, and because Coca-Cola is a product that spans different niches in terms of popularity, this is a campaign that has proved successful over time.
    See Full Answer
    Filed Under:
  • How much money do teenagers spend on fashion?

    Q: How much money do teenagers spend on fashion?

    A: An average American teenager spends 33 to 35 percent, or around $105, of her weekly income or pocket money on fashion and clothing, according to surveys conducted by Coinstar and Teenage Research Unlimited in the 2000s.
    See Full Answer
    Filed Under:
  • What are some real examples of ethical dilemmas in marketing?

    Q: What are some real examples of ethical dilemmas in marketing?

    A: Three examples of potentially questionable marketing practices include recommending inferior competitors, creating ghost locations and using aggressive research methods. Though many of these practices are legal, the extent to which they are employed often move them into a realm of moral ambiguity.
    See Full Answer
    Filed Under:
  • What are some examples of relationship marketing?

    Q: What are some examples of relationship marketing?

    A: Some examples of relationship marketing are sending birthday cards to clients, offering reward plans to customers and creating web pages and forums for clients to find the answers to their questions and to become better informed. Making a change based on customer requests is also a relationship marketing technique.
    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 is the difference between sales and marketing?

    Q: What is the difference between sales and marketing?

    A: The main difference between marketing and sales is that marketing continually changes to accommodate emerging technologies and to deliver fresh content to the public, while sales techniques remain the same. Marketing is essentially the act of promoting a company or its products and services, while sales involves persuading people to purchase specific goods or services offered by organizations.
    See Full Answer
    Filed Under:
  • What are some examples of internal and external customers?

    Q: What are some examples of internal and external customers?

    A: External customers use a company’s products or services but are not part of the company. An external customer is an individual who enters the store and buys merchandise. Internal customers are members of an organization who depend on the assistance of one another to accomplish their job responsibilities. For example, a sales representative requires support from customer representatives to place an order.
    See Full Answer
    Filed Under:
  • What are the most common problems with online marketing?

    Q: What are the most common problems with online marketing?

    A: One of the most common problems is the large number of online marketing venues available. Deciding which of these are the best venues for promoting an individual business is often a time-consuming prospect. Online marketing is also a relatively new field that changes quickly and is potentially difficult to follow.
    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 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:
  • How should you price bake sale items?

    Q: How should you price bake sale items?

    A: Domino Sugar suggests that entrepreneurs price bake sale items relatively low to encourage multiple sales per buyer, while varying prices depending on the ingredients and work required for each item. Prices should range from $1 to $10.
    See Full Answer
    Filed Under:
  • What are the advantages and disadvantages of sales promotions?

    Q: What are the advantages and disadvantages of sales promotions?

    A: Sales promotions may help businesses gain exposure, clear out old inventory and boost revenue, but they are not ideal for attracting new customers. Sales promotions are most valuable to small businesses and can help businesses develop key relationships with local consumers and business allies. However, sales promotions may only drive sales in short bursts, leaving companies with an effective short-term growth plan but no sound marketing solution for the long haul.
    See Full Answer
    Filed Under:
  • What are the advantages and disadvantages of sponsorship?

    Q: What are the advantages and disadvantages of sponsorship?

    A: Sponsorship can be a positive way to promote a business and help local causes, but there is the risk that the sponsored party may do something the sponsoring business does not approve of. Businesses can sponsor sports teams, youth clubs, theater productions, and other public activities.
    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 "indirect marketing"?

    Q: What is the definition of "indirect marketing"?

    A: Indirect marketing is where there is no direct communication to consumers by companies. It is treated as the next step for establishing brand recognition and awareness.
    See Full Answer
    Filed Under:
  • What is possession utility?

    Q: What is possession utility?

    A: Possession utility is a term that explains and possibly measures the satisfaction that comes from owning a product or enjoying a service. In theory, there are just as many possession utilities as there are a growing number of goods and services. The satisfaction in possession utility comes from the right of someone to do what they want with their property inside the boundaries of the law.
    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: