He has worked for indie and major labels, scored films, and has worked as producer, engineer, mixer, and remixer for artists such as DJ Shadow, Frank Sinatra, Radiohead, John Cale [Velvet
They allow companies to hire people, buy equipment, and manufacture products or deliver services. Without sales, there is no future for a business. The poor economy in recent years has hit small businesses particularly hard. However, your decision to implement any of them should be based upon several factors: Expand Your Market Augment your existing client base with new products, new geographic territories, and additional sales resources: Add Complementary Services to Existing Products Adding complementary services or products may help you gain new clients, as well as maintain existing ones.
For example, a lawn-mowing or landscaping company might add swimming pool maintenance for little additional cost. Neither service is technically complex or difficult to deliver, both require regular home visits, and each are a burden to the homeowner.
Similarly, a home repair company can easily serve the commercial market with the same crews and equipment used in its normal residential business.
Contracts to provide future maintenance or extended warranties can be sold with almost all capital equipment. Review the products of your competitors for ideas.
Extend the Geographic Market Area Many small businesses limit their marketing and sales efforts to the immediate area surrounding the central location of their business. A Dallas distributor of playground equipment discovered that none of his competitors marketed in several of the suburbs surrounding the city, probably because no distributor was located within those communities.
The additional cost to cover the larger market was minimal and more than doubled potential sales. Enter Into Cooperative Sales Agreements Contact companies that sell a complementary product or service with a request to sell your products also.
For example, computer hardware companies often sell software, which facilitates the sale of their hardware. Furthermore, pet food distributors offer proprietary vitamins and pet furniture, and home remodeling businesses also sell landscaping.
Many companies actively seek complementary products as they add very little to marketing and sales expenses — it is just a matter of finding the right partner. Adding additional salespeople for no out-of-pocket cost is a sure sales booster.
Hone Your Pricing Strategy Price is the single most important factor in a decision to purchase a product or service. Before implementing any pricing strategy, know how your customers feel about your product so that a change in price encourages the market behavior you want.
Raise or Lower Prices The prices of products constantly change, so you should not be reluctant to adjust your prices to meet your objectives or the market situation. A price reduction will stimulate more sales and take market share away from other suppliers.
If the reaction is not positive, you can make further adjustments, including a return to the old prices.
You may also consider regularly raising your prices. Consumers rarely react to slight price increases and often overlook them. While a small increase in price may not seem significant when compared to the full price, the impact of the increase on profits is magnified since the increase will flow directly to the bottom line.
The shoes were intended for the mass market and priced to attract women who wanted a nice look without the cost of a designer label. The store also offered handbags and hats designed to complement each pair of shoes.
More than one-half of the shoe sales were bundled with a higher overall profit margin. If you sell products that naturally go together, or are used for the same task or at the same times, consider selling them as a package. Add, Reduce, or Eliminate Shipping and Handling Charges In lieu of raising the price of a product, consider adding a shipping and handling charge.
The net effect on revenues is the same while avoiding buyer backlash to a price increase.HMGT Perspectives of Hospitality Management (3 Hours). This introductory course is designed to provide students with current information on topics relevant to career exploration, employment and operational specifics of the various segments of the hospitality industry.
Published: Mon, 5 Dec Introduction. In this written assignment, we had chosen Tupperware Malaysia in the consumer market. We aim to analysis and write a marketing report for Tupperware Malaysia such as background of the company, marketing strategies, marketing environment, marketing mix and proposal.
Published: Mon, 5 Dec It has won business and customer awards from around the world. Virgin Atlantic stands at the second largest international airline to come under the British Long Haul category. An immediate price increase will bring additional revenues and profits to the company if the price increase doesn’t negatively impact sales.
A price reduction will stimulate more sales and take market share away from other suppliers.
The Florida barnweddingvt.com’s Rich Capparela is a wonderful barnweddingvt.com afternoon drive show on the Classical station is always a treat. Earlier this week, he played . Sales Promotion is another important component of the marketing communications mix.
It is essentially a direct and immediate inducement. It adds extra value to the product and hence prompts the dealer/consumer to buy the product.