For concentrated marketing, Nanda can focus all resources on promoting and distributing in the specific market segment which can increase effective use of resources, bringing the most efficient outcome. It also reduces direct competition with competitors as she focuses on a smaller market. However, risk diversification is not likely in concentrated marketing, as in a smaller and targeted market. If the demand declines in that market, it has a direct effect on revenue and the profitability. For product differentiation, Clocky is a new and advanced product that it is hard to have similar products to compete.
The article suggests that emotional intelligence and dispositional affectivity are two important variables because they are easily measurable. Once measured, a salesperson could learn that their levels of emotional intelligence and dispositional affectivity are not high enough to lead to successful, but this individual could then partake in training and practice in order to enhance their understanding and control of these variables. The article suggests that emotional intelligence and dispositional affectivity have promise in terms of their connection to sales performance, and that both of these variables could be beneficial tools for sales managers and salespeople. The article even suggests that emotional intelligence and dispositional affectivity may be used in recruiting and selection decisions for the search of successful
However, if the product I am going to sell do not have much advantage compare to the similar product in the market, selling process is necessary for customer. Because in the selling process, hiding the disadvantage and express the major advantage of the selling product is possible. In that case, customer will tend to purchase these product. 9. Discuss the concept of niche marketing, and audience analysis, and why in this particular assignment, it was critical to your success.
Because of the surveillance of consumers by retail anthropologist, they both impact each others. Indeed, the retail industry improve their business by learning consumers habit. And consumers feel happy with their rewards because of their shopping habit. Therefore, some people will refute the claim "The surveillance of consumers by retail anthropologist is manipulative and unethical".
Competition is when two companies sell similar or identical products or services and adjust their prices to gain customers business. This can be in local competition or global. Competition can affect a company positively by forcing them to think outside the box in order for their products to stand out. They have to make their products better to get the consumers attention. Competition can also affect a company negatively when one company has a competitive edge.
Secondly, businesses need to play to their strengths and not all businesses have the same strengths. Thirdly, many markets are segmented and what is important to one set of customers may be less important to another set. So businesses need to decide which segments of the market they are targeting. Ways of seeking to gain competitive advantage include: offering lower prices, offering clearly superior products at above average prices, delivering products more quickly. offering superior customer service, including after sales service.
Benefits Diversities of goods and services are out there for consumers to choice, which can produce positive consumers’ surplus. Another good point to consider is efficiency. Since there’s competition in the market, producers try to produce the good or service in the efficient way as possible as they can. Cost It is a waste on advertising because each firm tries to show or persuade their customers that their products or services are different from the other product or service on the market. 4.
Companies will be more profitable because their products are more reliable, then they will have less defected products. In return, less time and money are spent fixing those mistakes. When the value a customer receives from a product is greater than that of another then they are more inclined to stick with that
Data already exists and was either previously produced by the business or by an outside source. Primary data takes more time and is relatively expensive to collect, but the data is usually more relevant to the business. Secondary data is cheaper and easier to obtain, but may be less reliable (or relevant) than primary data. 4.3) Formulate the research problem and objectives – In this step the marketing manager must precisely identify the true problem that the organisation is faced with, determine what needs to be achieved and decide on the type of research that must be conducted. Create the research design – The research design is used to plan the research that must be conducted.
Some retailers allow their designers freedom to use their creativity within their designs due to the designer‟s reputation, or if the store is looking for a new image, they may think the designer will help the retailer create this image. Today, visual merchandisers are learning to accept budget cuts in order to continue showing their creative window displays. Display, according to Pegler, is changing and not dying, but display persons must continue to work hard to bring entertainment into the retail store through displays (Pegler,