Study Your Business Viability – Part 1

Quality, professional market research helps you to ask the right questions for your business. Good market research reports will use a mixture of primary and secondary research to provide accurate information and conclusions.

Selling vs Marketing

      

     

      Selling is a process of transferring a product or service to a buyer at a price regardless of his need whereas Marketing is a process of transferring a product or service to a buyer at a competitive price in order to satisfy his need. 

         Selling sells what the producer has and need not necessary be a product or service that the Buyer wants whereas Marketing markets a product or service that meets the needs of the Buyer and is not what the producer has to sell. 

         Selling focus on the needs of the Producer – example, selling all the funds of a fund house because they are available but Marketing focus on the needs of the Buyer– example, a growth fund for child education or income fund for a retirement plan.

         Selling makes use of short-term tactics to get sales – examples are free gifts, discounts, rebates, bribes, etc. whereas Marketing makes use of long-term strategies to get sales –examples, value-added service, customer education, meeting objectives, etc.

How to Get Into International Marketing Career ?

“It’s a small world”, is a famous words that you must hear every day. Indeed the world is getting smaller by the day and boundaries are getting rubbed out as you speak. In such a manner everything is global and the term globalization has gained a new significance. Marketing jobs are such that they require integration of the entire company deals and doings. With most companies becoming international, it is most likely that your job in marketing is becoming international too.

Marketing is a field that is essential for the success of a company. It is the tool by which a product or service offered by a company is presented to the consumers. As the company grows up, it tends to branch out and expand to new places. Earlier the trend was to set up new branches all over one country. But now, one is rarely satisfied with so little. A company is considered to have truly become successful when it has achieved a global situation. This means that a company or organization has branches in various countries and places. Thus marketing jobs too are expanding too, to surround the whole world.

International marketing jobs are very profitable especially if you enjoy travelling. The jobs may be hectic, and you may have to fly at all hours but the real attraction of the job is in the new places and experiences that you get to enjoy. To get into an international marketing job, there are a few features that you require.

International marketing jobs are more required than regular marketing jobs and hence the top-notch employees are channeled into international marketing. It requires special skills to manipulate a lot of things and handle pressure in strange places. You need to keep exercising your creativity and come up with ideas that are sure to be a hit regardless of where you go. Think global only then can you be successful in an international marketing job.

12 Factors Make Your New Business Fails !.

As mentioned before that only about half of new small businesses will survive 5 years. Here are some of the factors that often contribute to a new business’s failure and must be taken into consideration during planning a new business:-

1. Lack of capital, often due to poor planning or unexpected costs.
2. Poor cash flow management.
3. Unexpected market factors-growth or reduction in market size.
4. Underestimating the competition.
5. New entrants to the market.
6. Technological problems.
7. Not having a strong business plan in place.
8. Lack of understanding of the market.
9. Poor advertising or marketing.
10. Weak product.
11. lack of selling and marketing expertise.
12. over trading or over expansion.

Why Market Research is Important ?

Market Research is the key to a new business becoming a profitable entity. It anticipates and minimizes risk, identifies potential customers and helps ensure success.

Finding customers is the most difficult part of running a business and only about half of new small businesses will survive 5 years. To ensure yours is a survivor, it is vital to comply with the here-under instructions before you invest your time and money in a new venture:

Ø  Learn how to research your market.

Ø  Identify potential clients.

Ø  Have a strategy for attracting them.

Market Research, or Business Intelligence as it is sometimes called, is a vital weapon in ensuring your new business survives to become a strong profitable entity. Therefore, don’t skip this important step in the rush to get your product to market.

International Marketing vs. Global marketing

International Marketing is concerned with the micro aspects of a market and takes the company as a unit of analysis. The purpose of international marketing is to find out as to why and how a product succeeds or fails in a foreign country and how marketing efforts influence the results of international marketing.

Global Marketing consider the world as a whole as the theatre of operation. The purpose of global marketing is to learn to recognize the scope to which marketing plans and programmes can be extended worldwide and the scope to which they must be adopted.

What is meant by International Trade ?

The exchange of goods and services along international borders can be defined as "International Trade". This type of trade allows for a greater competition and more competitive pricing in the market. The competition results in more affordable products for the consumer.

The exchange of goods also affects the economy of the world as dictated by supply and demand, making goods and services obtainable which may not otherwise be available to consumers globally.

What is meant by International Marketing ?

Exchange of goods and services between different national markets involving buyers and sellers can be defined as "International Marketing".

Moreover, it is also defined according to the American Marketing Association as, “the multi-national process of planning and executing the conception, prices, promotion and distribution of ideal goods and services to create exchanges that satisfy the individual and organizational objectives.”