Marketing & Sales

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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.

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  • What Is High-Pressure Selling?

    Q: What Is High-Pressure Selling?

    A: High-pressure selling, also called hard selling, is a traditional sales technique characterized by emotional pitches and aggressive sales approaches. Hard selling is a technique that was once used by salespeople commonly in a variety of sales positions, including automobiles and residential services. This method is losing ground to the technique of soft selling, which is characterized by a rational and level-headed approach.
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  • What Is the Function of a Sales Department?

    Q: What Is the Function of a Sales Department?

    A: The function of a sales department is to engage in a variety of activities with the objective to promote the customer purchase of a product or the client engagement of a service, according to the American Marketing Organization. Some business management professionals consider sales an outgrowth of the marketing function, but others consider it an independent aspect of an enterprise's overall operational scheme, also according to the AMO.
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  • What Is a Strategic Business Unit (SBU)?

    Q: What Is a Strategic Business Unit (SBU)?

    A: A strategic business unit is a portion of a larger organization that functions semi-autonomously as a profit center. Strategic business units are commonly headed by higher-level members of management, including managing director or vice president roles.
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  • What Is the Concept and Scope of Marketing?

    Q: What Is the Concept and Scope of Marketing?

    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.
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  • 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.
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  • 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.
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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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  • What Are Logos Used For?

    Q: What Are Logos Used For?

    A: Logos are used to identity businesses, organizations or products in a unique and recognizable manner. Logos are distinctive graphics or images that set companies or individuals apart from each other to promote awareness of their brands. Groups often adopt logos to represent their message. Logos can be an artistic design that includes an icon or symbol, a creative typeface of the company’s name or a combination of both.
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  • 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.
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  • What Are the Elements of Marketing?

    Q: What Are the Elements of Marketing?

    A: The American Marketing Association explains that marketing is a set of systematic activities that include research, solution development, promotion, sales and service. Each of these major elements is further broken down into different roles within the marketing function.
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  • What Is "electronic Point of Sale"?

    Q: What Is "electronic Point of Sale"?

    A: Electronic point of sale refers to the process of selling retail goods through a computer terminal that tracks data more thoroughly than a standard cash register. It allows for upsales on the spot, makes stock management easier and more accurate and speeds up transactions with customers. Electronic point-of-sale terminals are often hand-held, making them easy to use in environments like restaurants or technology stores.
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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 Purpose of Market Research?

    Q: What Is the Purpose of Market Research?

    A: The purpose of market research is to learn about the desires of a target customer base. Market research includes learning about current problems that a customer base has, as well as their preferred solutions.
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  • 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.
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  • 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.
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  • What Are the Functions of Distribution Channel Marketing?

    Q: What Are the Functions of Distribution Channel Marketing?

    A: According to TheManageMentor, the main functions of distribution channel marketing include information gathering, matching, promotion, developing contacts and negotiation for the sole purpose of providing a link between consumers and products. Information gathering involves assimilation and dissemination of market research, promotion involves development of persuasive communication, and matching involves meeting customer requirements by provision of the right product fit. Negotiation creates a win-win environment for buyers and sellers.
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  • How Do You Calculate the Cost of Sales?

    Q: How Do You Calculate the Cost of Sales?

    A: The formula for calculating cost of sales is adding the starting inventory, inventory purchases and overhead expenses together and subtracting that number from inventory at the end of the year, according to Chron. This formula subtracts the sales cost from the amount earned through sales to determine the company's income.
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  • What Is the Purpose of a Marketing Mix?

    Q: What Is the Purpose of a Marketing Mix?

    A: The purpose of a company's marketing mix is to control its marketing plan. An effective marketing mix includes the 4 Ps: product, price, place and promotion. How a company combines the 4 Ps determines its standing with customers and its income.
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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 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 Does Layaway Work at Walmart?

    Q: How Does Layaway Work at Walmart?

    A: Walmart layaway lets customers reserve purchases with a total value of $50 or more by making a down payment and agreeing to periodic installments. The service is only available for the holiday season lasting from mid-September to mid-December. In 2013, Walmart terminated the opening fee applied to purchase balances, making layaway service free. Customers must pick up the reserved items and finish payment by the December end date.
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