Culture Impact – World Trade

Culture deals with a group’s design for living. It is pertinent to the study of marketing especially international marketing. If you consider the scope of the marketing concept – the satisfaction of consumer needs and wants at a profit – the successful marketer clearly must be a student of culture. For example, when a promotional message is written, symbols recognizable and meaningful to the market (the culture) must be used. When designing a product and other related marketing activities must be made culturally acceptable (i.e. acceptable to the present society) if they are to be operative and meaningful. In fact,

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Acquisition and Retention Rates-Customers

Investments in technology, product and process innovation or distribution can have a bearing on altering acquisition rates. So can pricing, sales and service efforts change. The above examples of mobile phones and  Airlines are just two such examples in this direction. Retention of customer is dependant on the company’s orientation. The company plays a major role in determining its competitiveness. Customer orientation was mentioned to be the objective of most successful companies. If the company is customer oriented customer retention becomes a natural part of its process, systems and strategy. Higher rates of retention are possible only if the company

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Marketing as a Managerial Function

Marketing as a managerial activity involves analysing the market opportunities, planning the marketing activities, implementing marketing plans, and setting control mechanisms in such a way that organizational objectives are accomplished at minimum cost. In other words, marketing is: understanding consumer needs environmental scanning and market opportunity analysis development of a  competitive marketing plan and strategy  such that an organization is able to satisfy not only the consumer’s needs but also achieve its own objectives. implementation of the marketing plan and development of tactical plans to overcome problems at the market place development of control mechanisms This perspective implies that in

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Your Starting Point – Position

To the military strategists position is a crucial element in any campaign plan.  The general who doesn’t know where he or she is in relation to the  enemy – whether in terms of geography,  knowledge of forces, lines of supply, weather, or other factors —  is simply setting people up to be killed. On the battlefield, being in the wrong place at the wrong time can be a fatal error because no matter how brilliantly an army may perform in a face to face encounter it will never get a fair chance to do so if its leaders don’t know

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Strategic Selling Professional

Many people who sell are reluctant to admit that their profession is a profession.  The old, unfortunate image of the salesperson as a mere charmer, someone whose only skill is knowing how to talk, still commands a good deal of credence even among sales professionals themselves. Think of the phrases that come to mind when you think of selling. A good salesperson is born, not made. Selling is 90 per cent luck. A real salesperson can sell ice to Eskimos. Underlying all these adages is the view that it’s personality not understanding; temperament, not training, not skill, that make top

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Win Results in Selling

A smart salesperson never thinks of selling as a battle or of customers as enemies to be beaten. It’s possible to get an order by tricking or pressurizing your customers into signing, but when you do that you are making them lose, that is, allowing yourself to win at their expense. This is an extremely short sighted strategy. A customer whom you’ve beaten in this way will get out, get even or do both. In the short run, you may not care. But in terms of the long range management of that customer’s account, you’ll be kidding yourself even more

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Marketing Place

The needs, wants and demands of a customer: In order to understand the consumer, it is necessary to know his needs, wants and demands. At times these terms are loosely used. However, for a complete understanding of the marketing process, the terms should be clearly understood. Needs, as psychologists tell, are basic human requirements like food, security, clothing, and survival. Wants are the needs directed to specific products / services. For example, while shopping a thirsty and tired consumer may need water. But he sits down in a coffee shop, orders for bottled water and a cup of coffee. The

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Innovations in Marketing

The Indian market continues to remain upwardly mobile albeit at a slower pace after the global financial crises hit the Indian market in the latter half of 2008.  A large proportion of the workforce was rendered jobless as the world saw financial giants and strong global brands closing down. A large number of Indian exporting companies had order cancellations. Demand slowed down in India for all products and services. Though global and large Indian companies downsized their operations, Indian entrepreneurial groups continued to grow and offer employment opportunities. This is particularly true in services sectors like telecom, education and health

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What is Complex Sale?

Our processes are built on reality, not theory, and it would be unrealistic to suggest that everyone involved in selling could profit equally from them. That’s why we need to start by defining the complex sale, so that you can determine whether or not, given the type of selling you do, you can benefit from the methodology we have developed. In our corporate programmes we use the following definition: A complex sale is one in which a number of people must give their approval or input decision can be made. That sounds simple enough, and it is simple, but the

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Selling and Marketing Orientation

The selling approach is more transaction based and aims at maximization in the short term. As opposed to this, the marketing approach emphasises customer management, customized approach to winning and retaining the customer and hence focuses on building profits over a long term. The selling approach generally undermines research. It is more intuitive. It works well in markets that are less complex, in the sense that competition is low and customers have very little choice. It works on the mass, marketing approach wherein customer needs are aggregate. This is opposed to the marketing approach which is linked to the basic

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Selling Tactics Defined

Imagine that you’re the manager of XYZ  and that your team is about to play Real Madrid. The big game is one week away and the films of the Spanish team’s last couple of games have just come in. Your players are eager to see them so they can start working out game plans, but you’ve got a better idea. No films this year, boys, you tell them. We’re going to spend this week working on the basics. Marking tackling, running, kicking, passing, we know Real Madrid are good, but by next week we’re going to be better. Just concentrate

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Contemporary and Future Marketing Management

In the fast changing world of ours, consumers continuously want improved products at lower prices at their doorsteps. It is here that innovation plays a significant role and can provide to the firm the desired competitive advantage. Innovation often leads top redesigning the market strategy. The multiplex revolution is one such case of innovation in film viewing in the last five years or so. It created a new paradigm in film watching. From run down theatres offering stale refreshments and stinking toilets, multiplexes offered the customer an experience of watching the latest movie in a plush environment with facilities like

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