Five Successful Marketing Techniques 1.

Keep Adding Something New Every time you add something new to your business you create an opportunity to get more sales. For example, something as simple as adding new information on your web site creates another selling opportunity when prospects and customers visit your site to see the new information. Adding a new product or service to the list of those you already offer usually produces a big increase in sales. The added product increases your sales in 3 different ways: It attracts new customers who were not interested in your current products and services. It generates repeat sales from existing customers who also want to have your new product. It enables you to get bigger sales by combining 2 or more items into special package offers. Ads by Google

2. Become a Valuable Resource Look for ways you can be a resource for your prospects and customers. Supply them with free information. Help them do things faster, easier, less expensively. You get another opportunity to sell something every time they come back to you for help. 3. Separate Yourself from Your Competition Find or create a reason for customers to do business with you instead of with someone else offering the same or similar products. For example, do you provide faster results, easier procedures, personal attention or a better guarantee?

Determine the unique advantage you offer to customers that your competitors do not offer. Promote that advantage in all of your advertising. Give your prospects a reason to do business with you instead of with your competition and you'll automatically get more sales. 4. Promote the End Result Your customers don't really want your product or service. They want the benefit produced by using it. For example, car buyers want convenient transportation with a certain image. Dental patients want healthy and good-looking teeth without suffering any pain. Business opportunity seekers want personal and financial freedom for themselves and their family. Make sure your web pages, sales letters and other sales messages are promoting the end result your customers want. 5. Anticipate Change Change is the biggest challenge to your business success. The days are gone when a business could constantly grow by simply repeating what it did successfully in the past ...or even recently. Aggressive, innovative competitors and rapidly changing technology make it impossible. Expect change and prepare for it. Don't wait until your income declines to take action. Develop the habit of looking for early signs that something is changing. Then confront it before you start to lose business. Tip: Insulate yourself against the impact of change by increasing the number of products and services you offer and by using a variety of different marketing methods. Only a small portion of your total business will be affected if the sales of one product decline or the response to one marketing method drops.

How to Market a Product

Steps
1. Conduct research to see if the product is a good one and it has a viable target market. 2. Make any required changes to improve the product. 3. Assume that the product is "terrible" and the management has inventoritis. 4. Assess financial capability to support product-marketing initiatives. 5. Create an inventory of all the tangible and intangible assets available to the company.

6. Understand the value proposition, target market, goals and environment. 7. Clarify timeline, plan, target market needs, priorities and objectives. 8. Examine all processes within the company (operations, financial and internal/external marketing). 9. Make all required improvements to the internal processes. 10. Improve the marketing materials. 11. Design an external marketing strategy and process. (considerations below) Positioning - competitive strategy, differentiation, brand and pricing strategy Selecting - distribution channels, marketing vehicles and service providers

12. Focus your efforts by finding the Leverage Point (Strategic Leveraging) by analyzing networks, trends, technology and alliances. Strategic Leveraging involves the following 5 steps: determining the opportunities for improvement from the status quo. evaluating strategic improvement opportunities. creating a strategy centered around a Leverage Point (LP). establishing a position. executing the strategy using sufficient leverage and force to drive the process to completion.

13. Get the right people into the right places at the right time. 14. Leverage all the appropriate tangible and intangible assets and execute on the strategy and process. 15. Review the process and make any necessary changes.

quizballs 5 - management and business quiz - free quiz questions and answers

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1. What psychological methodology does NLP stand for? NeuroLinguistic Programming 2. David McLelland's motivational theory identified three principal motivational needs which he said each of us possesses to varying degrees, and which characterise our motivational behaviour; what are these three motivational needs? Achievement (n-ach), the need to achieve things; Authority/Power (n-pow), the need to have impact, influence and authority; and Affiliation (n-affil), the need for relationships, interaction and acceptance among other people (or words to similar effect as these definitions) 3. Which organisation produces the UK's ABC1C2 (etc) Social Grade Classifications Statistics? NRS Ltd (National Readership Survey) 4. What does the selling acronym AIDA stand for? Attention, Interest, Desire, Action 5. Who developed the 'Equity Theory' of job motivation in the 1960's? J Stacey Adams 6. What does the financial abbreviation P&L stand for? Profit and Loss (Profit and Loss Account) 7. Who developed the ten stages of corporate life cycle, starting with Courtship and Infancy and ending in Bureaucracy and Death? Dr Ichak Adizes 8. The Ansoff matrix correlates what two aspects of business development from the 'new' and 'existing' perspectives? Products and Markets 9. In selling and communications, what do 'open questions' generally achieve? Open questions gather information, improve understanding, and build rapport by encouraging the other person to talk and explain things, including how they feel about things.
10. Albert

Mehrabian researched and published a now widely referenced set of statistics for the effectiveness of spoken communications; what three types of communication did he identify and what percentages for each did he attach to each type in terms of the percentage of meaning (or understanding) that each communication type conveyed from person to person in his study? Mehrabian's research stated that: 7% of meaning conveyed is in the words that are spoken; 38% of meaning conveyed is in the way that the

words are said (paralinguistic); and 55% of meaning conveyed is in facial expression. 11.In business accounts and financial reporting, expenses which change according to scale of performance or usage or demand are known as what? Variable Costs 12.What is the name of Ingham and Luft's model and theory which deals with hidden and open areas of knowledge about a person? The Johari Window 13.The '360 degree' appraisal method collects feedback from whom, about whom? A '360 Degree' feedback appraisal collects the views from people who work with the appraisee, about the appraisee, including subordinates, peers, upline managers; effectively anyone who comes into contact with the appraisee and who is happy to provide constructive feedback about the appraisee's strengths and areas for improvement 14.What are the four levels of learning evaluation defined in Donald Kirkpatrick's model? 1. Enjoyment; 2. Transfer of learning; 3. Application of learning; 4. Effect of application (or words to the same effect as these four definitions) 15.What is the correct ascending order of these human needs according to Maslow's Hierarchy of Needs: Esteem, Safety, Belongingness and Love, Self-Actualisation, Biological and Physiological? Biological and Physiological Needs (basic life needs - shelter, food, drink, sleep, etc); Safety Needs (security, protection, law, etc); Belongingness and Love Needs (family, affection, relationships, etc); Esteem Needs (achievement, status, responsibility, reputation, etc); SelfActualisation (personal growth, self-fulfilment, etc) 16.What part of our brains typically handles process-type functions, according to brain theorists such as Katherine Benziger? Left Basal (left rear) 17.What does the accounting acronym FIFO mean? First In First Out (a convention for writing down the balance sheet value of assets of the same type - oldest are written-off first) 18.One of the most effective and efficient forms of marketing is abbreviated to the initials WOM; what is it? Word Of Mouth
19. Bloom's

Taxonomy of Learning Domains divides learning development into three main aspects: Cognitive, Affective and Psychomotor; what might these three aspects of

personal development more commonly be called? Knowledge, Attitude, Skills 20.Who wrote the Seven Habits of Highly Effective People? Dr Stephen Covey 21.The 'Big Five' personality dimensions, by which modern day psychologists believe every person's personality and behaviour tendencies can be measured are commonly abbreviated to the OCEAN acronym; what does OCEAN stand for? Openness to experience, Conscientiousness, Extraversion/introversion, Agreeableness, Neuroticism. 22.What are the four metaphorical terms used to describe products/services in Boston Matrix model according to market share and market maturity? Dog, Cash Cow, Problem Child and Star (or Rising Star) 23.The financial ratio which divides a company's 'liquid assets' by 'current liabilities' is known by what popular term? Acid Test (or 'Quick Ratio') 24.What three important things should be confirmed and understood before conducting a brainstorming ideas session? The purpose or aim of the exercise; a time limit; the fact that all ideas are welcome and to be respected (ie., sometimes the craziest-sounding ideas are the best ones). 25.What does the SWOT stand for in SWOT analysis? Strengths, Weaknesses, Opportunities, Threats 26.What are the 'Four Functional Types' within Carl Jung's theory? Thinking, Feeling, Sensation, Intuition 27.With what was the Kyoto Summit concerned? Global climate change (in other words, greenhouse gas emissions) 28.What are the four sequential stages of the 'conscious competence' learning model? 1. Unconscious Incompetence, 2. Conscious Incompetence, 3. Conscious Competence, 4. Unconscious Competence 29.What is the '1st Law of Cybernetics' (aka the 'Law of Requisite Variety')? "The unit within the system with the most behavioural responses available to it controls the system." (or words to that effect) 30.What are the four main 'Temperament' types called within David Keirsey's Temperaments personality theory? Artisan, Idealist, Guardian, Rational/Rationalist

31. According

to the Tannenbaum and Schmidt theory relating to delegation and team development, what must be reduced in order for the team's area of freedom (and growth) to increase? The manager's use of authority

32.What does the financial term ROI stand for? Return On Investment 33.Whose experiential learning theory comprises the learning styles named: Concrete Experience (feeling); Abstract Conceptualization (thinking); Active Experimentation (doing); and Reflective Observation (watching)? David Kolb 34.Daniel Goleman was responsible for popularising and defining what management and behavioural concept in his eponymously titled (ie., the title is also the subject) 1995 book? Emotional Intelligence 35.What is psychometrics? The science of measuring (or testing) personality type (or mental abilities) 36.What is the management technique that is commonly abbreviated to MBWA? Management By Walking About (or Wandering Around) - the term is generally attributed to Tom Peters (In Search Of Excellence, 1982) although it was probably part of a new management ideology first pioneered by a few bright American companies as far back as the 1940's 37.Large size hand-writing generally indicates what characteristics in the personality of the writer? Extraverted or out-going nature 38.Since October 2004, UK employers must follow a minimum process of three-stages for handling disputes with employees, including disciplinary and grievance matters; what are the basic minimum three stages required? 1. Write a letter to the employee explaining the issue; 2. Have a meeting with the employee to discuss the issue; 3. Hold or offer an appeal meeting with the employee if required. 39.Douglas McGregor defined two main styles of management; what did he call them and how are each of the two styles typified? X-Theory (or Theory-X) which is authoritarian, autocratic and repressive; and Y-Theory (or Theory-Y) which is participative, delegating, and developmental (or words to similar effect as these two descriptions) 40.Bruce Tuckman's theory about team development uses what four sequential rhyming words to describe the four

stages of a group's progression? Forming, Storming, Norming, Performing

41. What

are Howard Gardner's seven (original) Multiple Intelligences? Linguistic (words and language), LogicalMathematical (logic and numbers), Musical (music, sound, rhythm), Bodily-Kinesthetic (body movement control), Spatial-Visual (images and space), Interpersonal (other people's feelings), Intrapersonal (self-awareness)

42.According to Herzberg's motivational theory, which of these are 'hygiene needs' (or 'maintenance factors') and which are true 'motivators': work conditions, salary, achievement, advancement, work itself, responsibility, company car, status, recognition, and personal growth? Of the examples listed, hygiene needs are: work conditions, salary, company car, status. True motivators in the list are achievement, recognition, work itself, responsibility, advancement, and personal growth. 43.What does VAK stand for in the learning styles theory? Visual, Auditory, Kinesthetic/Kinaesthetic (three different learning styles or methods - seeing, listening, doing) 44.What does the business acronym IPO stand for? Initial Public Offering, meaning the initial sale of privately owned equity (stock or shares) in a company via the issue of shares to the public and other investing institutions 45.What does the PEST stand for in PEST analysis? Political, Economical, Social, Technological 46.What do 'open questions' typically begin with? Open questions typically begin with Who, What, How, When, Where, and Why, (or for particularly capable or intelligent respondents, 'Tell me about...') 47.What visionary management thinker wrote The Age Of Unreason and The Empty Raincoat? Charles Handy 48.What are the names of the (nine) Belbin 'team roles'? Coordinator (was called 'Chairman'), Shaper, Plant, MonitorEvaluator, Implementer (was called 'Company Worker'), Resource Investigator, Team Worker, Completer-Finisher, Specialist 49.In marketing, what are the The Four P's? Product, Price, Promotion, Place.

50.A lot of the traditional 20th century sales theory and training was influenced by the 1937 book 'How to Win Friends and Influence People'; who wrote it? Dale Carnegie.