Becoming a Great Marketer

Becoming a Great Marketer: Invention vs. Upgrade

For background material to this article, we encourage you to first read “Viewpoint: The ‘invention illusion’ means new rarely is new” published last week on BBC News.

This week we’ll be presenting a model for identifying and reporting on inventions, innovations and the like. What makes something new, or can anything really be considered new at all?

Maybe any talk of inventions is mere fancy. Is it really truthful to say that anything today is really an invention? Maybe it is just a modification or update on a previous version? But as we will explain, it all has to do with a company’s willingness to benefit people in some new way. The innovation is in the new ways that this “old” invention can now benefit people.

Of foremost importance is to be truthful, especially in advertising. If this product doesn’t do what the marketers claim, then this is wrong. But if it does, then all the more so, the benefits should me made known to the world. But we need to keep things in the proper context, and not presume that these are new inventions exist without some history to them.

There is a question on what to do with those marketers who don’t want to admit the past? The best marketers are those that first make an admission (e.g. that this new product is just an updated version), but then proceed to details the reasons why it is still important to buy it. They are not pretending that this smartphone or tablet didn’t exist before in another form. The distinction is with regard to the anatomy of the upgrade, and how these new features can better peoples’ lives.

MARKETERS CAN BE TRUTHFUL

We need then a revolution of good, truthful marketers. While every marketer says they have something to say, the public increasingly only wants to listen to the truthful ones. People are tired of the false claims and promises. Instead, we’d all rather listen to truthful statements from people we trust. These marketers are also some of the most connected people you’ll ever meet. Not connected in terms of having large followings, but connected in that they are a people person among marketers. They really care about steering people in the right direction. The question then is not whether there is innovation, but rather which marketers should I listen to? Which ones are saying innovations that ring true? There is a famous marketer that once titled a book “all marketers are liars.” He later recanted, and amended it to read that “all marketers tell stories.” As we will explain, the first statement was probably a better start. But instead of how it was written, we would have worded it is “all marketers either tell the truth, or the opposite… “.

Marketers that don’t acknowledge the past are also extremely forceful in their claims. Aside from being untruthful, this forcefulness also tends to push people away. Another factor that pushes people away is pride. If a marketer thinks of themselves to be the best, even if their claims are truthful, their advice is still seen as something pushy. They should never think of themselves as being these great marketers. The moment they think themselves to be great is also the moment when they think of themselves as some innovation. They, like the products they market, should focus on the benefits. How they are benefiting others. Similar to smartphones, tablets, etc… they are not the first marketer to have ever existed on the planet.

MAVENS, SALESMEN AND CONNECTORS

There are three things needed to become a great marketer:

The first is that they are always keeping their eyes open to good stories (like a photographer who goes around with their camera). This is what people call an intuitive marketer. Not simply that they have smarts, but they intuitively sense what’s going on in the world. This is what Malcolm Gladwell refers to in The Tipping Point as the Mavens:

“Mavens are “information specialists”, or “people we rely upon to connect us with new information.” They accumulate knowledge and know how to share it with others.”(Wikipedia)

The second is that a marketer should be a happy, friendly person. Someone that people are naturally attracted to. This is what Gladwell calls the Salesmen:

“Salesmen are ‘persuaders’, charismatic people with powerful negotiation skills. They tend to have an indefinable trait that goes beyond what they say, which makes others want to agree with them.” (ibid)

The third is that the marketer acts quickly and in a proper way. He sees a news story, and he writes or speaks about it. His take on the story should be quick because he has a readership waiting to hear and benefit from what he has to say. But his take should not be too hurried as to be inaccurate. Both speed and accuracy are needed. Gladwell calls this third quality Connectors:

“Connectors, are the people in a community who know large numbers of people and who are in the habit of making introductions. A connector is essentially the social equivalent of a computer

Marketing in Transition

Marketing in Transition

Introduction

Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably. In pre-modern economies, the predominance of small enterprise and there was monopoly and there was no recognition of marketing as a separate field of expertise. Marketing emerged as a separate technical field only in the late 19th century.

In the present scenario, the changing needs and wants or taste and preferences among the customers leads to paradigm shift in marketing. This is due to changing attitude and behaviour of the customers, globalization, increasing purchasing power and changing life style of the customers.

Causes for Marketing in Transition

• Globalization – Globalization has brought changes in technology, quality, service, work culture and undoubtedly fierce competition.
• Emerging Middle-Class Consumers – the increasing Purchasing Power of the Middle-Class consumers creates the MNC’s to seek opportunity in the emerging market.
• Changing Lifestyle and attitude of Consumers – since there is a change in the customers lifestyle due to western influence the customer’s needs and expectations has increased.
• Increasing literacy rate
• Children influence in buying decision making
• Changing perspective of rural marketing in India
• Increasing penetration of mass media
• Consumer awareness
• Information revolution
• An Enormous growth in international business

Formation of marketing concepts and practices
• 1905 – the University of Pennsylvania offered a course in “The Marketing of Products”
• 1908 – Harvard Business School opens
• 1940s – electronic computers developed
• 1980s – emergence of relationship marketing
• 1984 – introduction of guerrilla marketing
• 1995-2001 – the Dot-com bubble temporarily re-defines the future of marketing
• 1996 – identification of viral marketing

Emerging New Marketing Practices

Due to increased competition the companies had necessity to enhance additional features to their products to promote the sale of their products. Many companies followed different marketing practices to attract their customers.

Winning concepts and marketing practices are
• Relationship marketing
• Co-branding
• Viral Marketing
• Sachet Marketing
• Green marketing
• Rural marketing
• Destination marketing
• Online marketing
• Cause related marketing

MARKETING IN TRANSITION

A transition from a product oriented approach to a resource oriented approach

Transaction marketing Relationship marketing
Focus on Obtaining new customers Customer retention
Orientation to Service features Customer benefits
Timescale shorts long
Customer service Little emphasis High emphasis
Customer commitment Limited High
Customer contact Limited High

Quality

Primarily an operations concern

The concern to all

Nowadays many companies are practicing the new marketing concepts and practices. Some of the examples are as follows.

Relationship marketing:

The domain of relationship marketing extends into many areas of marketing and strategic decision making. In the phenomenon of cooperation and collaboration with customers becomes the dominant paradigm of marketing practices. Relationship marketing has the potential to emerge as the predominance perspective in the paradigm of marketing.

In the fierce competitive market customer relationship management is emerging as the core marketing activity in companies. For that to maintain companies practices customer retention strategies and having good relation with the customers.

Example:
HSBC bank sent greeting cards to the customers on their birthdays to have good relationship
Whirlpool do very good post sale service to the customers.

Sachet Marketing

In India, Unilever successfully markets Sunsil and Lux shampoo sachets sold in units of 2-4 dollar cents; Clinic All Clear anti-dandruff shampoo sachets at 2.5 rupees each; and 16 cent Rexona deodorant sticks.

Idhayam gingili oil available for Rs 4/- package.
To capture the BOTTOM OF PYRAMID also

Green Marketing

It refers to the process of selling products and/or services based on their environmental benefits. Such a product or service may be environmentally friendly in itself or produced and/or packaged in an environmentally friendly way.

Green marketing can be a very powerful marketing strategy though when it’s done right. Nowadays all companies are trying to produce eco-friendly products. And many companies have got ISO 14001 awards and strive to get.
Examples are ITC products, in the note books, it is environment friendly notebook.

Changing Perspective Of Rural Marketing In India

The great Indian rural market is characterized by huge untapped potential and opportunities. It is estimated that almost 70% of Indian consumers live in rural areas, which generate almost half of the national income. The number of middle income households in rural India is growing to above 111 million by 2007. There are almost twice as many lower middle income households in rural a

Marketing Success

Your Guide to Online Marketing Success

In today’s business world, online marketing isn’t just effective; it’s essential

At one time, business essentials were limited to business cards, yellow page ads and brochures. Newspapers, radio and television were used by cutting-edge businesses of yore and still reap huge rewards for big-businesses today. Mass media are generally just not cost-effective for most local businesses. In the 21st Century, it’s clear that the impact of these tools is diminished by the world wide web. We search for products and services online from our desktops, laptops and cell phones. Yet most local business owners don’t take advantage of the affordability and profits available through online marketing.

Like a business plan and a budget, an Internet marketing strategy is essential for modern-day small business success. While a website provides a good starting point, online marketing requires more than a couple of static web pages. Instead, a successful internet approach requires a dynamic and well-rounded web presence that builds relationships in addition to sales, fans in addition to customers.

A comprehensive Internet marketing strategy replaces newspaper ads with banner ads, yellow pages with search engines, snail mail with e-mail, town squares with social networks and sales letters with custom content. The technology is as evolutionary as it is revolutionary, and smart businesses are taking advantage of current environment to trounce their competition.

Tools and technology aside, there are dozens of reasons to engage actively and often in Internet marketing. Here are a few of the most persuasive:

1. When they need information, modern-day consumers go online; your successful internet marketing program will make sure they find you when they are shopping for your product or service.
2. Online marketing has tremendous research potential; if nothing else, companies should engage in online marketing research in order to collect data about their customers, prospects and competitors.
3. By marketing on the internet, companies can reach a highly targeted audience; what’s more, they can reach it quickly, intimately and more cost-effectively online than traditional marketing approaches.
4. Online marketing lends itself to instant conversions. Customers can quickly and easily find what they want and immediately click through to purchase it.
5. Compared with many traditional marketing vehicles, Internet marketing services are both more affordable and more effective.
6. Internet marketing provides marketing power to local business owners; by marketing online, your company can enjoy big-business marketing exposure on a local marketing budget.

Action Steps. Some contacts and resources to help you get started with your online marketing:

Search engine marketing strengthens your online marketing strategy.
Once you have a website, Internet marketing via search engines will help your customers find it. Consider search engine optimization, which will improve your search engine rankings, and pay-per-click (PPC) advertising, which markets your company via relevant, targeted search engine queries.
ACTION: Before you build a web site, use Wordtracker’s free keyword suggestion tool to choose keywords; use those keywords in your descriptions and meta-tags, PPC advertising via Google AdWords and Yahoo! Sponsored Search in order to build search engine traffic.

Select appropriate display advertising and leverage online marketing tools
Display advertising, including banner ads, is a basic form of online marketing. Because you’ll pay for impressions – banner ads are usually priced using CPM, or cost per thousand impressions – make sure you place ads only on websites that your target markets visit.
ACTION: Yahoo! Advertising provides Internet marketing services to design, purchase and place your Internet advertisements

Public relations promotes your online marketing image
Marketing on the internet includes more than advertising; it’s also about public relations. Generate publicity online and continually monitor, build and maintain your online reputation.
ACTION: Include Google Alerts in your online marketing strategy. Use them to keep tabs on mentions of your name, your company and your products online; search Technorati for mentions in blogs and social media. And, when you write press releases, distribute them via a newswire service like PRWeb, which allows you to tag your release for exposure on social bookmarking sites like Digg and Del.iciou.us.

Engage e-mail marketing to reach your online market
Promotional e-mails, including targeted messages and periodic e-mail newsletters, are effective, opt-in tools for one-to-one marketing. Send news or send coupons, but whatever you do, don’t spam.
ACTION: VerticalResponse is a popular e-mail marketing vendor that can help you develop and execute a one-on-one marketing strategy; browse its resources page for e-mail marketing research, tips and advice.

Pursue aff

Internet Marketing Strategy

Internet Marketing Strategy

Bayshore is the Internet Marketing solution, providing a complete Internet marketing strategy, promotion of a nationwide advertising. We can help you create a website, get the results or upgrade your existing site’s functionality. Bayshore Solutions can help you effectively combine network marketing, promotional and advertising strategies, customer conversion visitors web design.

Internet marketing is the same as traditional marketing, others are not. Here are seven things you need to know your online marketing is successful. When you write Xu copy, you should take the time to understand what works and what does not. There are two mistakes almost every amateur search engine copywriting.

Successful non-profit organizations use the Internet to market charitable program.

To help companies improve their digital marketing results, I also had in-depth, widely praised and won the AOP Award for best practice, publisher e-consultancy Guide.

Internet marketing is very challenging, and there will be, you need an expert search engine marketing services to beat your competition in the traffic wars. Please consider our search engine optimization company with the help of your project. Free quote service search engine optimization, web design, pay per click advertising, search engine optimization and PPC series, search engine optimization training courses and online brand network analysis.

Internet marketing is still essential to any business’s overall marketing strategy. Mentioned before with all the benefits of internet marketing, people still buy magazines, billboards went out to check to see their mail, watch TV, and shopping. No matter how fast-paced and wide internet of communication, people go out together, talking about going to the gym. Thus, while Internet marketing is absolutely valid and important, demising certain value of the cost of traditional marketing any business, many potential customers. Another thing, when we say that internet marketing, it is not only figures we choose to click on ads. The list also includes security, advertising, advertising social networks, groups, discussion boards and many others. Accordingly, the online marketing activities can effect the number of people exposed. However, one disadvantage is that people started to become one of the, and would even read the advertising information advertising or know (even people in the security list), and delete without opening them. When someone on the Internet, they would like to read / write e-mail, chat with friends, read and post / reply comments, play fun games. As a internet marketing goal is to build a top priority for Internet users. Also, try and spam and unsolicited e-mail and advertising, more and more people away from Internet advertising in general, unless they are some specific content. A variety of Internet marketing strategy is free and paid online marketing can make more money. 12-month Internet Millionaire Review – Russell Brunson is a 12-month millionaire fraud?. As the market one of the most controversial books, and now the Internet millionaire’s 12 months still constitute a major buzz everywhere. A great professional internet marketing make money online. Internet marketing can be a lucrative industry, if some big Internet-related skills and knowledge development to do so successfully. Must also identify and develop the necessary strategies to make money online. Pay per click advertising, online advertising and link exchange programs, is marketing, can be used to make the Internet industry to make money online there are some important programs.

Internet marketing are not the result of a well-defined, integrated internet strategy; rather, they are a response to competitors activities or customers demand. Through the site has existed for more than a year, marketing staff and senior management will naturally question its effectiveness. This is usually the point in a coherent Internet marketing strategy needs to become apparent. As a result, starting in the sum of electronic marketing strategy, is when a company’s existing website, which is to review the existing site and its purpose is to improve the effectiveness of the future. There is no evidence that the development and implementation of a strategy to be significantly different approach to electronic marketing. Strategic planning for enterprise development or strategic marketing to comply with the established framework should still be. The framework provides a logical order to follow up to ensure that the strategic focus of all development activities included. It can be said, however, with the e-market strategy for a highly sensitive process of rapid response mode, the events in the market need. Soviet-style five-year planning application does not seem to fit, the best approach is a new process of electronic marketing strategy is a continuous improvement. Check fee (2002) pointed out that e-commerce or e-marketing strategy process models

Financial Markets

Financial Markets – An Overview

FINANCIAL MARKETS – AN OVERVIEW:

In common parlance, a market is a place where trading takes place. Whenever we think about markets, a picture that flashes across our minds is of a place which is very busy, with buyers and sellers, some sellers, shouting at the top of their voice, trying to convince customers to buy their wares. A place abuzz with vibrancy and energy.

In the early stages of civilization, people were self-sufficient. They grew every thing they needed. Food was the main commodity, which could be very easily grown at the backyard, and for the non-vegetarians, jungles were open with no restrictions on hunting. However, with the development of civilization, the needs of every being grew; they needed clothes, wares, instruments, weapons and many other things which could not be easily made or produced by one person or family. Hence, the need of a common place was felt, where people who had a commodity to offer and the people who needed that commodity, could gather satisfy their mutual needs.

With time, the manner in which the markets functioned changed and developed. Markets became more and more sophisticated and specialized in their transaction so as to save time and space. Different kinds of markets came into being which specialized in a particular kind of commodity or transaction. In today’s world, there are markets which cater to the needs of manufacturers, sellers, ultimate consumers, kids, women, men, students and what not. For the discussion of the topic at hand, the different kinds of markets that exist in the present day can be broadly classified as goods markets, service markets and financial markets. The present article seeks to give an overview of Financial Markets.

WHAT IS A FINANCIAL MARKET?

According to Encyclopedia II, ‘Financial Markets’ mean:

“1. Organizations that facilitate trade in financial products. i.e. Stock Exchanges facilitate the trade in stocks, bonds and warrants.
2. The coming together of buyers and sellers to trade financial product i.e. stocks and shares are traded between buyers and sellers in a number of ways including: the use of stock exchanges; directly between buyers and sellers etc.”

Financial Markets, as the name suggests, is a market where various financial instruments are traded. The instruments that are traded in these markets vary in nature. They are in fact tailor-made to suit the needs of various people. At a macro level, people with excess money offer their money to the people who need it for investment in various kinds of projects.

To make the discussion simpler, let’s take help of an example. Mr. X has Rupees 10 lacs as his savings which is lying idle with him. He wants to invest this money so that over a period of time he can multiply this amount. Mr. Y is the promoter of ABC Ltd. He has a business model, but he does not have enough financial means to start a company. So in this scenario, Mr. Y can utilize the money that is lying idle with people like Mr. X and start a company. However, Mr. X may be a person in Kolkata and Mr. Y may be in Mumbai. So the problem in the present scenario is that how does Mr. Y come to know that a certain Mr. X has money which he is willing to invest in a venture which is similar to one which Mr. Y wants to start?

The above problem can be solved by providing a common place, where people with surplus cash can mobilize their savings towards those who need to invest it. This is precisely the function of financial markets. They, through various instruments, solve just one problem, the problem of mobilizing savings from people who are willing to invest, to the people who can actually invest. Thus from the above discussion, we can co-relate how financial markets are no different in spirit from any other market.

The next issue that needs to be redressed is what is the distinction between various financial instruments that are floated in the market? The answer to this question lies in the nature or needs of the investors. Investors are of various kinds and hence have different needs. Various factors that motivate investors are ownership of controlling stake in a company, security, trading, saving, etc. Some investors may want to invest for a long time and earn an interest on their investment; others may just want a short term investment. There are investors who want a diverse kind of investment so that their overall investment is safe in case one of the investments fails. Hence, it is the needs of the investors that have brought about so many financial instruments in the market.

There is one more player in the financial market apart from buyers and sellers. As stated above, the one who wants to lend money and the one who wants to invest the money may be situated in different geographical locations, very far from each other. A common place for this transaction will require the meeting of these persons in person to close the transaction. This may again result in a lot of hardship. It