How Traditional Marketing Strategies Are Still At A Business’ Core Of Success by Kane Minks

Businessmen Marketing Sales Calls. Kane Minksby Kane Minks

Quite a number of studies have been done to determine which marketing strategies can warrant success, but with ever-changing global markets, companies need to be very innovative to come up with the best strategies that appeal to their target customers. However, it’s worth noting that what works for a particular company or product may not necessarily work for another. Some of these new marketing strategies that have proven effective over time are enumerated below.

  • Superior Product/Service

A great product or service is mightier than a good marketing campaign. This is one marketing principle that can build more prosperity than any other insight. This is not to say that if your product isn’t better than your competitors’ then your marketing cannot in any way communicate any unique or advantageous qualities to the market. But a much better product makes your ads more persuasive and more effectively boosts marketing success. Filling the void that exists in the market with a unique idea is one way of positioning your product or service above the competitors’, increasing market share and increasing sales and profits.

  • Public Relations

Hiring a suitable Public Relations (PR) agency can actually boost your business’ overall visibility and profitability. The agency’s role would be to get the necessary publicity by making sure that your business’ news, articles, and press releases get to the type of media outlets that is read by your target market. This publicity will increase your market visibility, credibility and sales. Examples of the media that your prospective customers get their information and news from include: newspapers, magazines, radio and TV.
Hiring a reputable PR agency that knows the influential journalists in your sector is more advantageous to you as they will be able to have any latest stories related to your organization covered in the media on a regular basis. PR firms are online and local. They have prices and plans that are matched to businesses at any level.

  • Build Strong Relationships with All Employees

Employees should be the most vital part of any company’s marketing strategy. If they feel strongly about the company, it easily reflects in their performance which helps create a positive impression on your customers and additionally within their social circles. Instilling a feel-good attitude in your employees is thus imperative in instilling in them a sense of satisfaction within the business and accordingly creating a positive image for your organization.

  • Run Promotional Offers

Running promotional offers definitely gets a lot of word-of-mouth publicity. For instance, you can decide to put your products half -price to increase traffic, get more people to talk positively about your company, and in the end convert the would-be customers to happy buyers.

You Can Make It Happen

There are many business and marketing strategies that work well. These are some of the tried and true methods that have worked time and again for businesses around the world. No matter what you choose, research and plan out a campaign that meets your current needs and will conform to the long-term goals of the business.

Kane Minks

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International Success – How Shifting To A Global Strategy Requires The Right Entry To Succeed by Kane Minks

Shangai by night. Business in China. Kane Minksby Kane Minks

Many investors have turned to foreign markets with the view of doing better business and reaping large rewards. Though markets abroad offer the opportunity to flourish, practical experience has revealed they are not as easy to dominate as thought. This is due to different customs, business procedures, as well as different regulations that leave foreign investors in a disadvantaged position. Though foreign businesspeople may try and do good business, the local entrepreneurs always enjoy a remarkable advantage. Understanding the best market entry strategies for international business will make it easy for companies to enter foreign markets and succeed.

Go It Alone

There are many strategies available for those who plan to venture into foreign markets. One of the options is entering international markets alone. This means a business unilaterally enters a foreign market without the aid of other people or organizations. This is a very risky endeavor and a company should ensure that they have all the necessary resources before testing the waters. It has an advantage in the fact that if a company excels, it is going to enjoy great profits alone. On the other hand, it is going to suffer great losses if the business project does not succeed.

Owing to the perils involved, few companies are willing to venture into international markets alone. The resources required for a company to successfully venture into foreign markets depend upon a variety of factors. They include the nature of the company and the country in which the foreign market is found.

Partnerships

Many companies that delve into foreign markets they know little about enter in a partnership. This has a lot of advantages because the risks involved are shared by many companies and their strengths are shared. As such, the loss incurred by each company is greatly reduced. This is unlike the case where a particular company ventures into a foreign market alone.

For example, the Chinese government requires foreign businesses partner with Chinese companies for them to do business within China in most cases. This is greatly advantageous because the local company understands the local market better. Chances of the partnership excelling are higher as a result. This will help foreign companies, so they don’t waste time and money making mistakes as they try to familiarize with the local market.

Subsidiaries

Companies may also venture into foreign markets as subsidiaries. This is an international business market entry technique in which a company ventures into a local market as a subsidiary of a bigger parent company. Setting up a subsidiary company in a foreign country helps the subsidiary recruit local staff that is familiar with prevailing business procedures. It is therefore easier for the subsidiary to excel. Though a subsidiary operates almost independently, it receives guidance from the parent company. A subsidiary is treated like a local company and therefore enjoys any benefits offered by the foreign governments in which they are based.

Kane Minks