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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  • 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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  • 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 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.
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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 Are Examples of Indirect Marketing?

    Q: What Are Examples of Indirect Marketing?

    A: According to an article in the Houston Chronicle, examples of indirect marketing include: coupon mailings, trade shows, public relations, blogging, participating in workshops, free e-books and posting on social media. Marty Shindler of The Shindler Perspective, Inc asserts that indirect marketing strategies can be nebulous, but their main objective is to portray the image of a well-run company. These factors include how visitors are received and phone calls handled.
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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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  • 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 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 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.
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  • What Are Suggested Names for a Beauty Parlor?

    Q: What Are Suggested Names for a Beauty Parlor?

    A: Suggested names for a beauty parlor include The Cutting Edge and Live or Dye. The name of a beauty parlor should be fun, creative and distinctive. It should represent the personality of the salon as well as the type of patronage it targets.
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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 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 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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  • 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 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 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 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.
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  • 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.
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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 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 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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