1) Product Knowledge – a sales person must know the ins and outs of a product and how a customer will benefit from the products features. 2) Prospecting – this is about searching for new customers. It can be achieved by making a profile of existing customers to enable similar matches to be found. 3) Approaching New Customers – this step is where businesses gather data from step two and approach new customers via the means of email, telephone, face-to-face or internet advertising. This is the start of building a customer relationship.
1.2 Explain different methods of segmenting and characterising customers The key to a successful business is to find out who our customer base is, what the customer wants, the age, gender, spending patterns etc. This is the reason we have marketing research because it can identify different customers and recognise what we need to do as a company to meet the demands of the market and keep us competitive.
These department officials have a clear understanding of the goals and objectives of the company brand/s. But not always is the power vested upon branding is understood. This serves as a disadvantage because successful market branding is an important, and easy if correctly implemented, route to visible gains in the market, enhancing the position and image in the market, popularity kept aside. This improved position includes loyal customers, high margins on sales and better tabulation as well as evaluation(or valuation) of the income, the business. Some key points that should be considered while formulating branding goals
First we will introduce strategic marketing thinking which is for us in a first place in creating business strategy. Next one will be branding strategy. Every marketer knows that to be successful in the market, company has to create strong brand strategy. Branding is a company’s view from the side. Thanks to branding you can create strong business and strong competitive advantage.
• To target places of families either in cities or even in the remote areas, so the product will be known and familiar to the people in addition to gain more market segments. • Good quality product to gain the customer trust and consumer satisfaction. • The core value is the taste that gives refreshing. Promotion Strategy: Branding is essential to build the brand image and create top of mind awareness to the customers. In this junction, following activities can be taken create brand awareness.
This will help the company to prioritize and strategize the innovation, done by the research department. Lack of experience - Not everybody is impassive to be a businessperson. Analyze the strength and weakness of starting own business. It is important for entrepreneurs to self-starters who are great at arranging, sorting out, and settling on choices that can advantage their business in the long term. It is also important to pick the right business, which may not be the most gainful, but rather the one in which have the most interest and ability sets.
The business environment has become very competitive today. This has made it very difficult for startup ventures to succeed because they face stiff competition from the other well established businesses. Several researches have shown that only 10% of startups have grown to become renowned global brands. The main concern then becomes, what does it take to run a successful startup? There are several skills that you will need to run a startup to ensure it grows successfully.
This can also be done by taking time and listening to the people that make up the business, all the stakeholders that have an impact on the brand. Consistency should play a major role in making the brand authentic, giving mixed messages to consumers confuse the, and given them a sense of mistrust for the brand. The brand should act the same way online and offline, across all channels. It is important to tailor an approach to a specific platform with a specific message and style that remains the same so consumers know the brand top of mind, and ensuring the brand us converting themselves as a assures, trustworthy, most importantly authentic brand. Thereafter with that consistency of the brand messages, the brand should be able to back up what they say, because today the world is filled with savvy consumers, that will see right through the brand and go straight online to let everyone know.
Nowadays, the companies have gained many of techniques to work with their target audiences and motivate consumers to spend money on their services or products. This study is focused on co-branding as a strategy, which seems to be a win/win proposition for both actors participating the process and can help to sales drive, develop brand images or even save marketing/advertising costs (Kim, Lee, & Lee, 2007). First, is important to define this phenomenon. Co-branding is a marketing tool, which pairs two or more branded products (constituent brands) to form a separate and unique product (composite brand) in a marketing context, such as in advertisements, product placements and distribution outlets (Park et al., 1996 & Grossman, 1997). As usually co-branding strategies rely on brand equity, it is important to pair a less known brand with a favourable existing one to create an advantageous attitudes toward a new product or category.