Tag: small business marketing

FORCES IN THE RETAILERS MACRO ENVIRONMENT

Various elements such as demographic, legal, social, economic and technological variables affect an organisation and its marketing efforts. It is now recognized by all that even a well concerned marketing plan may fail if adversely influenced by uncontrollable factors (demographic, legal etc.). Therefore the external macro environment must be continually monitored and its effects incorporated into Retailer’s marketing plans.

The External Environment of Retail Marketing

Demographic Environment

Technological Environment

Social Environment

Political / Legal Environment

Economic Environment

DEMOGRAPHICENVIRONMENT

The first environmental fact of interest to retailers is population because people make up markets. Retailers are keenly interested in the size of the population, its geographical distribution, density, mobility trends, age distribution and social ethnic and religious structure.

Demographic structure is seldom static for long and changes in its composition often test the residency of a marketing firm. Further, these changes influence the behaviour of consumers which, in turn, will have a direct impact in the retailer’s business. The ripples of these changes will reach the organisation forcing it to alter or amend the existing marketing practices in vogue. In short, Retail firms, will have to continuously measure the changes – qualitative as well as quantitative – that are taking place in the population structure. To avoid negative consequences brought on by active consumer groups, a retailer must communicate with consumers, anticipate

problems, respond to complaints and make sure that the firm operates properly.

POLITICAL / LEGAL ENVIRONMENT

Retail marketing decisions are substantially impacted by developments in the political / legal environment. This environment is composed of laws, government agencies and pressure groups that influence and constrain various organisations and individuals in society. Legislation affecting retail business has steadily increased over the years. The legislation has a number of purposes. The first is to protect from each others. So laws are passed to prevent unfair competition. The second purpose of Government regulation is to protect consumers from unfair retail practices. Some firms, if left alone, would adulterate their products, tell lies in their advertising, deceive through their packages and bait through their prices

SOCIAL/ CULTURAL ENVIRONMENT

In recent years, the concept of social responsibility has entered into the marketing literature as an alternative to the marketing concept. The implication of socially responsible marketing is that retail firms should take the lead in eliminating socially harmful products such as cigarettes and other harmful drugs etc. There are innumerable pressure groups such as consumer activists, social workers, mass media, professional groups and others who impose restrictions on marketing process and its impact may be felt by retailers in doing their business. The society that people grow up in shapes their basic beliefs, values and norms.

ECONOMICENVIRONMENT

Retail markets consist of purchasing power as well as people. Total purchasing power is a function of current income, prices, savings and credit availability. Marketers should be cognizant of major trends in the economic environment. The changes in economic conditions can have destructive impacts on business plans of a firm. Economic forecasters looking ahead through the next decade are likely to find their predictions clouded by the recurrent themes of shortages, rising costs and up and down business cycles. These changes in economic conditions provide marketers with new challenges and threats. How effectively these challenges could be converted into opportunities depend on well-thought-out marketing programmes and strategies. Further, no economy is free from the tendency of variation between boom and depression, whether it is a free economy or controlled economy. In any event, economic swings affect marketing activity, because they affect purchasing power.

TECHNOLOGICAL ENVIRONMENT

The most dramatic force shaping people’s lives is technology. Advances in technology are an important factor which affect detail marketers in two ways. First, they are totally unpredictable and secondly, adoption of new technology often is prevented by constraints imposed by internal and external resources. At the same time, it should be remembered that technological progress creates new avenues of opportunity and also poses threat for individual firms. Technology has helped retailers to measure the products with modern weighing machines. Earlier, they have used balances which could not measure the merchandise correctly.With the help of weighing machine, products can be measured with the result customer satisfaction can be enhanced. In the following areas where technology have been extensively used.

1. Packing of the products

2. Printing the name of the shop on the product visibly

3. Modern refrigerators where merchandise can be used for a long time and

4. Billing.

.R.YUVARANI
M.Phil Scholar
Department of Commerce
Periyar University
Salem-11

Source by R.Yuvarani

No matter where you are in the world or what type of a business is involved, if sales are involved, the need for a marketing director exists. Differences may exist in the way a marketing director performs his job in different types of businesses, but in the end, the job entails the same basic function: developing a marketing plan that will effectively sell the product or service of his company.

Any sales or merchandising operation may employ a marketing directing including a bank. Many credit card operations have an entire Marketing Department that is heading by a marketing director or manager to present current card offerings to the public. A clothing chain may have a marketing director to develop the marketing tactics that will be used to promote the new season off clothing. Even service organisations may use the services of a marketing director in order to make the public aware of their company and how they can do the job differently and more efficiently than the company that a person is currently using.

The marketing director must be able to work well with people of all ethnic origins and nationalities. He must work well under pressure and know what kinds of tactics to use in a given situation. That means know when to use strong tactics and when weaker ones will work better. It means knowing the target audience for the product you are trying to promote, which in turn means having the flexibility to change your marketing plan to accommodate a change in that audience. Your target audience may change for several reasons:

•#Income of the region

•#Weather and geographic location

•#Seasonal variations of each region

•#Ages of the general population of the region

For example, if your company is trying to promote a snow blower, you are not going to have much luck in a region that is now in the middle of their summer, thus your target audience is now those in colder regions. You might succeed in a warmer region if your promotion includes an inflated discount because of the weather conditions currently in existence. A marketing director must know when to target a given region and when to place his concentration on another region for various regions that may even include knowing the current employment of the region you wish to target to avoid pursing a region with a population that is struggling to simply provide daily necessities.

Source by Richard Taylor Edwards

I decided to investigate an opportunity called It Works Marketing due to the number of scams running online, this is what I found out…

It Works Marketing offers people products for health and wellness, as well as business opportunities to earn more income through retail and sponsorship. It Works Marketing started in 2001 and has focused on giving beauty and wellness products.

The Marketing Approach

The company uses the network marketing approach to selling. Instead of giving money to advertisers, it puts the avarage joe in charge of advertising.

You should gather team members once you join It Works. You can become a “Perfect 10” by inviting the first 5 clients and first 5 distributors. You continue earning commission as you complete the “perfect ten” each time.  You can earn a maximum of 9% from the group volume that you enroll and a maximum of 4% from other members in the organization.

The Product Line

It Works offer individuals products that are formulated and developed by various researchers, herbalists and scientists . The products offered include body slimming treatments, nutritional supplements, skin care products and anti-aging products.

ITworks is also featured, which is the interactive online weight loss program developed by It Works. The program was created by Carla Burns, RN and incorporates a 20-minute workout, diet recipes and thermogenic foods that help burn fat and calories.

From the research I’ve done so far, this opportunity is legit.

However, the MAJOR PROBLEM I see is the marketing plan. This company teaches its reps to prospect family & friends, do home parties, buy leads and distribute brochures.. I don’t believe this to be a solid marketing plan. With the Internet, business can be leveraged to reach millions across the globe.

Final thoughts? Get your self a solid and proven marketing knowledge to make this business work with my FREE CD, which will help you recruit members a whole lot easier than the methods taught. Visit the link below…

Source by Hassan Ajmal

Perhaps you became a doctor because you love to help people or because you have a passion for medicine.  No matter what brought you to become a doctor, you have to face the fact that patients equal profits.  Many doctors are reluctant about marketing their practice but it is essential if you want to grow your practice and attract new patients.

Many doctors mistakenly believe that if you are busy as a doctor, it is because you are a good at what you do.  That may be the case sometimes but the majority of doctors who maintain busy schedules also have an effective marketing plan.  There is a stigma attached to medical marketing but if you want to stay busy and avoid the dreaded famines that follow feasts, you need to get more patients through marketing your practice.

Why All Doctors Should Market

All doctors should market and promote their practice because no matter how great of a doctor you are, no one will know you exist unless you promote yourself.  Contrary to popular belief,medical marketing is not always about having a huge advertising budget and placing expensive ads.  There are several low-cost methods of marketing that doctors can use to match their practice with their patients’ needs.

Medical Marketing Basics

Many times doctors forge personal connections with their patients and thus attract new patients based on word-of-mouth.  Current patients are an important resource when it comes to marketing your practice.  Your patients already have trust in you so you can ask them for referrals, follow up with them, and encourage them to spread the word about your practice.  Ensuring that you give each and every one of your patients a great experience is important if you want to cultivate strong relationships with them and increase patient loyalty.

Many doctors feel uncomfortable about asking their patients for referrals but it is necessary if you want to increase your clientele.  Patients often tend to think that a doctor is too busy to take new patients and doesn’t really think of referring their doctor to friends and family in most instances.  In order to encourage people to make referrals, take the time to provide them with the best service possible.  Treat them as individuals, not numbers.  Smile at them, make the billing process easier for them, and do whatever you can to make them have a great experience in your practice.  This type of medical marketing is known as “internal marketing.”  Essentially, every time a patient comes into contact with your practice, you are marketing.

Points in Your Practice to Review

In order to determine in which areas your practice needs work when it comes to marketing, here are some points to review.

Find Your Identity – How would you describe your practice in five adjectives?  What kinds of services does your practice offer?  How does your practice stand out from the pack?  Answer these questions and then meet with your staff to ensure that you are living up to your proposed identity.  If you want to come across as a friendly practice, you need to be sure that your staff members are smiley and friendly with patients.

Improve Your Workspace – Take a look at your practice as if you were a patient.  Is it easy to navigate? Is the atmosphere pleasant?  Does it take long to get in and out?  Make sure the experience of being in your practice is as pleasant as possible and work on areas that need improvement.

Live Up to Your Price Tag – How much do you charge for your services in comparison to other doctors in the local area?  Make sure your prices are appropriate for the services you offer and the market you are targeting.  Don’t go too high or too low.

Market Consistently – Whether you rely solely on internal marketing or you are doing external marketing in addition, make sure your marketing efforts are consistent and professional.  Even a little effort can make a huge difference down the line, whether you are ready to embrace traditional marketing methods or not.

Good Promotion, Good Product

If you are a doctor and want to stay ahead of your game, you need to start planning your medical marketing strategy now.  As the market becomes increasingly competitive, it is more important than ever to boost your marketing strategy so you can stand out from the crowd.

Source by Alex White