Market Research is an organized attempt to gather data on potential consumers and target markets: learn about them, beginning with whom they are. Market research is one of the most important elements of strategic management and a key ingredient in sustaining competitive advantage. A market research company has a responsibility to develop and maintain databases…
In marketing, customer lifetime value, or customer lifetime value is an estimation of the profit gained on a specific sale at the end of a business cycle. According to the most popular financial theorists, value can only be gained by increasing the marginal income, i.e., increase the sum total of sales over time, which is…
Sales management is a strategic business discipline that is focused on the management of the various sales processes and the rational application of business strategies. As the global sales drive continues to increase, it has become increasingly important for companies to develop and implement sales management processes that are aligned with the company’s strategy and…
In the world of business there are two main things that we are all familiar with: marketing and sales. Marketing refers to actions that a business undertakes to advertise or sell a product, service, or just about anything else. The selling part is where you take the products or services for sale and try to…
Recruiting refers to the whole process of selecting, evaluating, screening, and subsequently recruiting suitable candidates for various jobs in an organization. Recruiting can also mean processes involved in determining who to hire for unpaid positions. Recruiting includes evaluating a candidate’s potential ability, knowledge, skill, personal attributes, work experience, etc. Recruiting involves both human resource and…
What are partnerships? How do they help people, organizations and other entities? How do they differ from other types of arrangements? These are just some of the questions that this article seeks to answer. A partnership is basically an agreement where two or more parties, called partner organizations, agree to collaborate on a common interest…
Direct mail is also referred to as direct marketing mail, direct mail, flyer, postcard, hard-copy mail or envelope, and bulk mail. It is a way of soliciting responses from potential clients using written communications, which may be in the form of a letter, a document or an advertisement. This method of marketing was popularized during…
Planning a Product or Service Launch is essential for a new product or service that will make a splash in the industry. You have to design your strategy well ahead of time so you know how you’ll be launching the product successfully. The planning stage should take into consideration both your short-term goals and the…
Search Engine Optimization (SEO) is one of the most important things that any webmaster can do to improve the number of visitors to their website as well as to the sales volume of this website. SEO targets free direct traffic as well as paid search traffic. Free traffic is referred to as “inbound links” and…
The 3 Essential Elements of Digital Marketing Strategy Digital marketing is an integral part of advertising which uses electronic and web-based technologies including mobile phones, desktop computers and various other web-based media and devices to advertise products and services worldwide. The term digital marketing therefore covers a wide range of activities which include search engine…