Quick Money

Effective marketing will help you sell well! Soon you will realize that the break evens have been reached and profit has started minting in. Doing a good market survey and research, understanding the trends and the market movements and then utilizing your strengths effectively to cater to the requirements of the market forces can help you be a king. On the other hand like two sides of a coin it can very conveniently land you to be a pauper.
Promotional activities are conducted to get your product acknowledged by consumers. Effective communication should be used in the promotional campaigns so that the consumers can identify their requirements in the offered products.
Its a cycle; you have some thing to sell, you tell the world about it! If your mode of communicating is settled well your product does good. In case your methods to communicate loosen out, you bear its cost plus the cost of unsold inventory.
Stories are common and heard several times how big giants taking advantage of free trade did get in nations less advanced, soon realized they had to back out. The market is all set, the call is how to attract this market. We are not living a senario any more that customers came to the seller. Its a different game altogether now.
Quick money is not a dream, its a reality and its a stage easy to obtain!

Steps of Strategic Planning

If one wants to be successful, one must plan strategically. The planning should clearly define objectives and should understand both internal and external situation to formulate strategy then implement it. Progress should be evaluated in comparison to the plans and necessary adjustments should be carried out to stay on track.

The process to plan can be put in 5 simple steps:

1) Mission and objectives: The unchanging values and purpose of the firm should be understood.

2) Environmental Analysis: Understand the industry in which the firm is operating. Study the macro environment on the basis of company’s own strengths.

3) Strategy Formulation: Once the company is in business it needs to check the markets it’s operating in. One must try to bid in a competitive advantage over the competition.

4) Implementation of Strategy: The selected and designed strategy should be implemented. The way a new strategy is implemented can have a significant impact on whether it will be successful or not.

5) Evaluation: The policies and procedures defined under decided plans should be monitored. . Measured results due to new plans should be compared to the pre-defined standards and necessary changes should be made.

So be clear where you want to go before you start moving!!!!!

Budget your branding

It is very important to regularly monitor your advertising activities in the process of brand building, to realize how much they are contributing to the bottom line. Expediting marketing expenses wouldn’t generally lead to a stronger brand name. Neither is it necessary that they will give you voluminous sales nor a good market name. Though, when the communication is hay wired it might get ruined!

The marketing objectives for the undertaken activities should be clearly defined. It shouldn’t be a case that an activity is pursued because some one else (may be competitor!) is doing it.

Every organization has to have a budget for its marketing deeds. The budget would vary according to the companies’ profit margin. Branding is the key activity to help grow these budgets by spending the allotted money. Confused? See, if branding is done in sync with the organization’s goals the profits would be higher giving in turn more marketing investments to be made in future.

Analyze where you are at the moment. Understand what is lacking. Check on the external factors related to it. Plan your strategies according to your strengths and weakness. Implement these and regularly check and update them.

Brand- To Sell

Branding is an application of appropriate marketing techniques in the right proportion to a product. Brand management is to manage the forces in a market suitably to win favors for the product.

Branding essentially has to work on both mind and heart of consumers so that the product's perceived value to the customer increases and thereby increase brand equity.

Marketers see a brand as an implied promise that the level of quality, people have come to expect from a brand will continue with present and future purchases of the same product. There are a lot of products available but limited brands. Its comparatively easier to judge the needs of people and develop a product accordingly, but it is tough to tell the world that there exists an answer with you to their needs. Its not hard to sell some one what he wants, but its hard to make him aware about the availability.

Brand your products in a way to generate sales and also a good will in the market. Use the mixes in a way that at one end the consumer feels that he needs your product and at the other he feels that's its in his betterment that he is associated with your product.

Effective Branding

In this typical market we have multiple sellers catering to multiple buyers. The start of commercialism dawned from the empires of Barter system and moved on to business estates where the primary goal is to make profits. This system to address the needs and demands of the forces in the market and earn an incentive over it is the call of the day. This has no problem till the time the situation is monopolized as that would make the users accept any and everything. But no sooner that there exists a competitor, this situation trembles as now the call is to attend to the customer needs in such a way that their loyalties can be won.

Not only winning loyalties helps to earn a quick buck but also sustain sales in a way that even when successors pick up the business they could bank on the same customers which were earlier converted to become prime centers.

In today’s scenario it has become very important to convert your product from a mere product to a brand. With globalization taking everything under one bracket it is hard to sell products. Thus the focus should be to establish and sell brands.

There exists a misconception that branding is advertising. If you need to brand your product all you need to do is to spend money on a heavy media burst wherein you flood your product across and Eureka! Brand is made. Alas! It doesn’t work this ways.

Advertising is a part of branding that does help to create awareness but not a brand per se. Advertising can be called a sub set of branding. A brand is made not by just creating awareness but value for a product. Consumers should be happy about a product. They should feel proud about using a product. It should capture not only the hearts of a consumer but also minds. An attractive advertisement can lure someone to do the initial purchase but till the mind is stimulated the product will not be on its selling cycle.

Use the marketing mix in the appropriate ways to win customers for a product. Branding is not only about awareness and aspirations. It’s about sales too. Any branding activity undergone which doesn’t help with the bottom lines should be reworked unless the objective is diverse.

The time to sell products alone is out. Sell values with the product. Sell aspirations. Look after customer interests and win him forever. Happy marketing. Happy branding!