Marketing & Sales

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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 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.
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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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  • 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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  • 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 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 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.
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  • 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.
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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 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 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.
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  • 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.
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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 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.
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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 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.
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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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  • 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.
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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 "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 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.
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