Five Successful Marketing Techniques

8/6/2019 Five Successful Marketing Techniques

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Five Successful Marketing Techniques

1. Keep Adding Something New

Every time you add something new to your business you create anopportunity to get more sales. For example, something as simpleas adding new information on your web site creates another sellingopportunity when prospects and customers visit your site to seethe new information.

Adding a new product or service to the list of those you alreadyoffer usually produces a big increase in sales. The added productincreases 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 moreitems into special package offers.

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2. Become a Valuable ResourceLook for ways you can be a resource for your prospects andcustomers. Supply them with free information. Help them do thingsfaster, easier, less expensively. You get another opportunity to sellsomething every time they come back to you for help.

3. Separate Yourself from Your CompetitionFind or create a reason for customers to do business with youinstead 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?
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Determine the unique advantage you offer to customers that yourcompetitors do not offer. Promote that advantage in all of youradvertising. Give your prospects a reason to do business with youinstead 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. Theywant the benefit produced by using it.

For example, car buyers want convenient transportation with acertain image. Dental patients want healthy and good-looking teethwithout suffering any pain. Business opportunity seekers wantpersonal 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 ChangeChange is the biggest challenge to your business success. Thedays are gone when a business could constantly grow by simplyrepeating what it did successfully in the past ...or even recently.Aggressive, innovative competitors and rapidly changingtechnology make it impossible.

Expect change and prepare for it. Don't wait until your incomedeclines to take action. Develop the habit of looking for early signs

that something is changing. Then confront it before you start tolose business.

Tip: Insulate yourself against the impact of change by increasingthe number of products and services you offer and by using avariety of different marketing methods. Only a small portion of yourtotal business will be affected if the sales of one product decline orthe response to one marketing method drops.

How to Market a Product

Steps1. 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.
http://www.wikihow.com/Market-a-Producthttp://www.wikihow.com/Market-a-Product


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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 analyzingnetworks, trends, technology and alliances. Strategic Leveraging involves the following 5steps:

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 andprocess.

15. Review the process and make any necessary changes.

quizballs 5 - management and business quiz - free quiz

questions and answers

Information about all of these subjects is on the businessballswebsite. A search tool is at the top of the page.
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1. What psychological methodology does NLP stand for? Neuro-Linguistic Programming

2. David McLelland's motivational theory identified threeprincipal motivational needs which he said each of us

possesses to varying degrees, and which characterise ourmotivational behaviour; what are these three motivationalneeds? Achievement (n-ach), the need to achieve things;Authority/Power (n-pow), the need to have impact, influenceand authority; and Affiliation (n-affil), the need forrelationships, interaction and acceptance among otherpeople (or words to similar effect as these definitions)

3. Which organisation produces the UK's ABC1C2 (etc) SocialGrade 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 the1960's? J Stacey Adams

6. What does the financial abbreviation P&L stand for? Profitand Loss (Profit and Loss Account)

7. Who developed the ten stages of corporate life cycle,

starting with Courtship and Infancy and ending inBureaucracy and Death? Dr Ichak Adizes

8. The Ansoff matrix correlates what two aspects of businessdevelopment 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 encouragingthe 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 spokencommunications; what three types of communication did heidentify and what percentages for each did he attach to eachtype in terms of the percentage of meaning (orunderstanding) that each communication type conveyedfrom person to person in his study? Mehrabian's researchstated that: 7% of meaning conveyed is in the words that

are spoken; 38% of meaning conveyed is in the way that the


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words are said (paralinguistic); and 55% of meaningconveyed is in facial expression.

11.In business accounts and financial reporting, expenseswhich change according to scale of performance or usage or

demand are known as what? Variable Costs12.What is the name of Ingham and Luft's model and theory

which deals with hidden and open areas of knowledge abouta person? The Johari Window

13.The '360 degree' appraisal method collects feedback fromwhom, about whom? A '360 Degree' feedback appraisalcollects the views from people who work with the appraisee,about the appraisee, including subordinates, peers, uplinemanagers; effectively anyone who comes into contact with

the appraisee and who is happy to provide constructivefeedback about the appraisee's strengths and areas forimprovement

14.What are the four levels of learning evaluation defined inDonald Kirkpatrick's model? 1. Enjoyment; 2. Transfer oflearning; 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 needsaccording to Maslow's Hierarchy of Needs: Esteem, Safety,

Belongingness and Love, Self-Actualisation, Biological andPhysiological? Biological and Physiological Needs (basic lifeneeds - shelter, food, drink, sleep, etc); Safety Needs(security, protection, law, etc); Belongingness and LoveNeeds (family, affection, relationships, etc); Esteem Needs(achievement, status, responsibility, reputation, etc); Self-Actualisation (personal growth, self-fulfilment, etc)

16.What part of our brains typically handles process-typefunctions, according to brain theorists such as Katherine

Benziger? Left Basal (left rear)

17.What does the accounting acronym FIFO mean? First In FirstOut (a convention for writing down the balance sheet valueof assets of the same type - oldest are written-off first)

18.One of the most effective and efficient forms of marketing isabbreviated to the initials WOM; what is it? Word Of Mouth

19.Bloom's Taxonomy of Learning Domains divides learningdevelopment into three main aspects: Cognitive, Affective

and Psychomotor; what might these three aspects of


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personal development more commonly be called?Knowledge, Attitude, Skills

20.Who wrote the Seven Habits of Highly Effective People? DrStephen Covey

21.The 'Big Five' personality dimensions, by which modern daypsychologists believe every person's personality andbehaviour tendencies can be measured are commonlyabbreviated to the OCEAN acronym; what does OCEAN standfor? Openness to experience, Conscientiousness,Extraversion/introversion, Agreeableness, Neuroticism.

22.What are the four metaphorical terms used to describeproducts/services in Boston Matrix model according tomarket 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 andunderstood before conducting a brainstorming ideassession? The purpose or aim of the exercise; a time limit; thefact 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'stheory? Thinking, Feeling, Sensation, Intuition

27.With what was the Kyoto Summit concerned? Global climatechange (in other words, greenhouse gas emissions)

28.What are the four sequential stages of the 'consciouscompetence' 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 ofRequisite Variety')? "The unit within the system with themost behavioural responses available to it controls thesystem." (or words to that effect)

30.What are the four main 'Temperament' types called withinDavid Keirsey's Temperaments personality theory? Artisan,Idealist, Guardian, Rational/Rationalist


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31.According to the Tannenbaum and Schmidt theory relatingto delegation and team development, what must be reducedin order for the team's area of freedom (and growth) toincrease? The manager's use of authority

32.What does the financial term ROI stand for? Return OnInvestment

33.Whose experiential learning theory comprises the learningstyles named: Concrete Experience (feeling); AbstractConceptualization (thinking); Active Experimentation(doing); and Reflective Observation (watching)? David Kolb

34.Daniel Goleman was responsible for popularising anddefining what management and behavioural concept in hiseponymously titled (ie., the title is also the subject) 1995

book? Emotional Intelligence

35.What is psychometrics? The science of measuring (ortesting) personality type (or mental abilities)

36.What is the management technique that is commonlyabbreviated to MBWA? Management By Walking About (orWandering Around) - the term is generally attributed to TomPeters (In Search Of Excellence, 1982) although it wasprobably part of a new management ideology first pioneeredby a few bright American companies as far back as the

1940's

37.Large size hand-writing generally indicates whatcharacteristics in the personality of the writer? Extravertedor out-going nature

38.Since October 2004, UK employers must follow a minimumprocess of three-stages for handling disputes withemployees, including disciplinary and grievance matters;what are the basic minimum three stages required? 1. Writea letter to the employee explaining the issue; 2. Have ameeting with the employee to discuss the issue; 3. Hold oroffer 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 stylestypified? X-Theory (or Theory-X) which is authoritarian,autocratic and repressive; and Y-Theory (or Theory-Y) whichis participative, delegating, and developmental (or words tosimilar effect as these two descriptions)

40.Bruce Tuckman's theory about team development useswhat four sequential rhyming words to describe the four


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

41.What are Howard Gardner's seven (original) MultipleIntelligences? Linguistic (words and language), Logical-

Mathematical (logic and numbers), Musical (music, sound,rhythm), Bodily-Kinesthetic (body movement control),Spatial-Visual (images and space), Interpersonal (otherpeople's feelings), Intrapersonal (self-awareness)

42.According to Herzberg's motivational theory, which of theseare 'hygiene needs' (or 'maintenance factors') and which aretrue '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, companycar, status. True motivators in the list are achievement,recognition, work itself, responsibility, advancement, andpersonal growth.

43.What does VAK stand for in the learning styles theory?Visual, Auditory, Kinesthetic/Kinaesthetic (three differentlearning styles or methods - seeing, listening, doing)

44.What does the business acronym IPO stand for? Initial PublicOffering, meaning the initial sale of privately owned equity

(stock or shares) in a company via the issue of shares to thepublic 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? Openquestions typically begin with Who, What, How, When,Where, and Why, (or for particularly capable or intelligentrespondents, 'Tell me about...')

47.What visionary management thinker wrote The Age OfUnreason and The Empty Raincoat? Charles Handy

48.What are the names of the (nine) Belbin 'team roles'?Coordinator (was called 'Chairman'), Shaper, Plant, Monitor-Evaluator, 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.


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

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Five Successful Marketing Techniques