The Importance Of Market Research In Advertising

Market research should forecast the impact of an eventual advertising campaign. It is a preliminary strategy providing various indicators regarding the most efficient way to approach the advertising process and to consider selling and developing strategies within private or public companies. Regardless of the quality and creativity standards in advertising, a TV commercial or an online campaign cannot be truly efficient if the audience has no interest in the advertised product or service. Market research values a wide spectrum of indicators which gradually narrow a targeted audience. The process has its starting point in generalized information such as demographic information and can identify and interpret even financial data for a particular category of prospective consumers.

Market research is definitely a laborious process because it involves complex procedures such as collecting information, analysis, and interpretation. However, an adequate completion of the entire path results in valid and effective information, which enables advertisers and managers to reduce the failure risks and to prioritize lucratively the major assets of a business in a particular context.

Market research comprises 2 fundamental components, primary and secondary research. Primary research is considered a very dynamic process because marketers are required to collect information, which should later lead professionals to identify consumers’ behavior and profile. Secondary research interprets data that has already been gathered such as statistics on demographic indicators or authorities financial reports. We can easily notice that primary research focuses on prediction, whereas, secondary research focuses on interpretation.

Depending on the outcomes of market research, advertisers will be able to create proficient advertising concepts and to develop them in outstanding ad campaigns.

Email Marketing Tips

Many businesses make use of email marketing. There are a number of benefits to this form of marketing. It can be extremely cost effective as unlike sending a letter, sending an email doesnt cost anything (although you may be paying for professional email marketing services). An advantage over calling potential customers is that calling at an inconvenient time can mean a lost opportunity. If you email at an inconvenient time, the recipient can read it when it suits them. Below is some email marketing advice with some tips on running a successful campaign.

Research Your Readers

To need to know who you are sending your emails too. You dont want to just send then to as many people as possible hoping that you will somehow capture some business. This will be a waste of time, and if you are paying for email marketing services, money. You need to decide upon a target audience to make sure you are sending them to those likely to be interested in what you are offering.

Clarity

Clarity is very important in an email marketing campaign. Like any type of advertising, you have to make sure it is made clear who you are, what you do, and how your products or services can be beneficial. While being important that you get your message across, you shouldnt overcomplicate things.

Your Email Must Stand Out

With email marketing first impressions are everything. It is easier for someone to delete your email (and therefore never read it again) than read it. You need to hook them in and not ramble on about unrelated matters before getting to the point further down the page. You need to interest them early and be unique. You should be as brief as possible and concise.

People Dont Trust Emails

Most people receive a lot of spam emails and when receiving something they are not expecting may be inclined to delete it immediately. Make sure your emails arent mistaken for spam. Use a descriptive title to give readers an accurate idea of what the email could be, without seeming spammy.

Build Trust

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Effective Marketing Plan – The 4 P’s Of Marketing

An effective marketing plan consists of several components known as ‘The Marketing Mix’ or the 4 P’s of marketing. The 4 P’s include price, product, promotion and placement were put in place to help bring the best return for a product’s potential.

The History of the Four P’s

The history dates back to the 1940’s when James Culliton described a marketing manager as someone who is a ‘mixer of ingredients’. Years later Neil H. Borden wrote and published an article titled The Concept of the Marketing Mix which was an variation of Culliton’s original theory. That marketing mix consisted of product pricing, branding, planning, distribution channels, promotions, advertising, personal selling, packaging, display, physical handling, servicing, fact finding and fact analysis. Jerome McCarthy consolidated these into a four categories appropriately named the 4 P’s of marketing.

What are the Four P’s

1. Price

The first of these is price which must be thoroughly examined throughout the buying and purchasing process. Be sure to consider all elements of a product to determine its price. Variables that may affect the outcome include location of distribution, price mark-up, actual distribution, competition and payment plans.

2. Product

The second P of the mix is product. When trying to determine the product try asking detailed questions so you can a full understanding of the product you’re trying to sell. Sample questions include ‘What problem or problems will this product try to solve?” or “What types of features or benefits will this product have?” Determine a customer profile so you’ll know who will buy the product and see how it is unique in the marketplace.

3. Promotion

How will the product be promoted? Some potential choices are promoting online, traditional marketing, event marketing, etc. By not having an effective promotional initiative can waste valuable time and revenue.

4. Placement

The final P of the mix is placement. Placement covers the physical aspect on where the product will be sold. Two popular choices are online or brick-and-mortar locations. Along with determining a products placement also come up with an exit plan strategy if the product does not sell

Controlling The Financial Performance Of Your Business

There are numerous factors which impact on the performance and viability of your business. It is therefore imperative that you monitor and control your financial performance. Debt control and budgeting are two elements of this, and of particular importance is your business cash flow.

Many profitable businesses have gone under due to a lack of attention to their cash flow; they have insufficient cash available to pay their bills. Thus, you must plan and control your cash flow in order to effectively manage your business.

Some strategies that may assist in this include:

* Increasing the speed of cash receipts by good debt control strategies

* Avoiding excessive stock holdings by managing stock levels and obtaining reliable, prompt suppliers

* Planning the purchase of equipment and other capital expenditure for periods when surplus funds exist

* Planning to have sufficient reserves to carry your business through the inevitable periods when unexpected expenses are incurred

* Avoiding excessive investment in plant, equipment and other fixed assets which may leave too little working capital available (particularly in periods of falling prices, declining sales or increasing interest rates)

* Avoiding over borrowing as this may place a strain on working capital, loans still have to be repaid even if revenue is decreasing

* Maintain adequate working capital to fund the growth as increasing sales also means increasing costs, your working capital requirements therefore, need to be continually reviewed

* Delaying outgoings by taking advantage of the credit terms offered by your suppliers and paying when it suits your cash flow

* Reducing outgoings by taking advantage of discounts when appropriate and working capital permits

* And most importantly, regularly comparing your actual cash flows to your budgeted cash flows, analysing the differences, and taking action based on this analysis

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Life Insurance The First Item On Your Bucket List!

A bucket list is defined as a list of the things you would like to achieve before you die, or before you ‘kick the bucket,’ so to speak. The term was popularised by the 2007 film The Bucket List, starring Jack Nicholson and Morgan Freeman. Whether it lists one item or 10, a bucket list details your dreams and goals for your time on this earth. Parachuting, climbing Everest or owning your own home, bucket lists are as varied and diverse as the people who draw them up. A bucket list assumes that we will lead full lives, that we will be blessed with the 10, 20 or even 30 years we need to tick off all the items on our list. Sadly, for many people, this is not the case and our lives are often cut tragically short. It is for this very reason that the first item on your bucket list should be to invest in life insurance.

Every plan we make and every dream we have assumes that we will live to a ripe old age. Our career path, our dreams of the time we will spend with our grandchildren and our retirement planning all work on the assumption that we will be granted the biblical ‘three score and 10 years’ or 70 years on this earth. While we all know that death is always just a hair’s breadth away, we very rarely face up to or plan for this reality. As a parent and breadwinner, however, planning for your own death is essential.

As a parent, caring for your children is one of your first priorities. You earn the money they need to survive, you care for them when they are ill and spend hours helping them with their homework. You are their anchor and their shelter in this world, ensuring that they are clothed, fed and sheltered. Your job as a parent is not done, however, if you have not planned for the day that you are not there to look after them, the day that you pass away before they are old