Marketing & Sales

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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.

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  • What are some best practices/tips on how to apply social selling in a B2B environment?

    Q: What are some best practices/tips on how to apply social selling in a B2B environment?

    A: According to Meltwater, some best practices for B2B social selling include encouraging sales reps to become more active users of social media, capturing contact profiles, offering adequate training on how to use social media effectively and sharing useful content with prospects. B2B social media requires genuine interaction that goes beyond selling products and services.
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  • What is difference between moral hazard and adverse selection?

    Q: What is difference between moral hazard and adverse selection?

    A: Moral hazard is the danger of bad behavior that arises when people are insured against the consequences of that behavior, while adverse selection is the tendency that only the people who need such insurance most are willing to pay for it. Both of these issues increase the cost of administering the systems where they arise. Adverse selection creates a more costly participant pool. Moral hazard creates costlier behavior in those participants.
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  • 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.
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  • 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.
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  • 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.
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  • What is the impact of technology on marketing?

    Q: What is the impact of technology on marketing?

    A: The role of marketing professionals has been heavily affected by technology, adding responsibilities like social media management and digital advertising, while simplifying other tasks, including tactics like research, reporting and sharing information. It has created new marketing roles, like digital media marketing managers and social media marketing associates.
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  • What are some differences between micro and macro marketing?

    Q: What are some differences between micro and macro marketing?

    A: The differences between micro- and macro-marketing pertain to the scope of a business’ approach. Macro-marketing takes a global view while micro-marketing works on a smaller scale.
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  • What is the role of a marketing manager?

    Q: What is the role of a marketing manager?

    A: A marketing manager oversees the marketing department. She plans and coordinates marketing activities, such as identifying potential customers, developing marketing campaigns and organizing focus groups. She is responsible for developing marketing plans that align with the business’ strategy.
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  • What are some of the environmental factors that affect global and domestic marketing decisions?

    Q: What are some of the environmental factors that affect global and domestic marketing decisions?

    A: Some of the environmental factors affecting global and domestic marketing decisions include: social environment, economic environment, technological environment, competitive environment, cultural environment, political/legal environment, and ethical environment. Every business organization, whether global or domestic, has existing external factors that affect its operations. The company can have control over some of these external factors, while others are beyond organization’s control.
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  • 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.
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  • 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.
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  • What are the advantages and disadvantages of mass marketing?

    Q: What are the advantages and disadvantages of mass marketing?

    A: Some advantages of mass marketing include reaching a large audience and the potential for massive sales, but some disadvantages of mass marketing are overexposure and increased competition. Businesses that use mass marketing attempt to appeal to the entire consumer population instead of focusing on a particular niche of consumers. This method can work well depending on the strength of the products and the business, but it can also prove ineffective and lead to poor sales.
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  • 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.
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  • What is the product concept?

    Q: What is the product concept?

    A: The product concept is a universal business hypothesis that assumes that customers desire products that have better features, performance and quality than the products that are already on the market. The product concept is a company's driving force to create cutting-edge products that are superior to other similar products.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • What are the advantages and disadvantages of benchmarking?

    Q: What are the advantages and disadvantages of benchmarking?

    A: Benchmarking may contribute to company growth and foster better relations among employees by encouraging new ideas and concepts, but it can also spark competition among employees and be used to judge the work of individual employees. Benchmarking, depending on the size and collaborative spirit of the undertaking organization, may increase sales, productivity and ROI.
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  • 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.
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  • 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.
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