Day: March 1, 2021

Marketing – Sales promotion | Britannica

iwano@_84 1 month ago

No marketing process, even the most carefully developed, is guaranteed to result in maximum benefit for a company. In addition, because every market is changing constantly, a strategy that is effective today may not be effective in the future. It is important to evaluate a marketing program periodically to be sure that it is continuing to achieve its objectives.

Marketing control

There are four types of marketing control, each of which has a different purpose: annual-plan control, profitability control, efficiency control, and strategic control.

Annual-plan control

The basis of annual-plan control is managerial objectives—that is to say, specific goals, such as sales and profitability, that are established on a monthly or quarterly basis. Organizations use five tools to monitor plan performance. The first is sales analysis, in which sales goals are compared with actual sales and discrepancies are explained or accounted for. A second tool is market-share analysis, which compares

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A Beginner’s Guide to Small Business Marketing in 2021

iwano@_84 1 month ago

You launched your own business. Word of mouth can only get you so far. Now it’s time to accelerate growth by marketing your company.

The goal of marketing is to find the right audience for your products or services and apply the appropriate marketing strategy to reach that audience. Fortunately, small businesses can choose from a plethora of marketing tactics to achieve their objective.

This practical guide outlines seven strategies to successfully execute marketing for your small business.

What to consider when selecting a small business marketing strategy

Before jumping into the strategies, review these considerations affecting how to market your business.

Marketing goals

Building your marketing strategy starts with defining goals. Are you looking to acquire new customers, oversee your company’s reputation, referred to as reputation management, or other objectives like customer retention or increasing the average purchase amount per customer?

Setting goals allows you to construct a marketing

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