The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organizationâs relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porterâs 5 Forces.
Porterâs 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyersâ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organizationâs external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
The marketing environment represents a mix between the internal and external forces which surround an organization and have an impact upon it, especially their ability to build and maintain successful relationships with target customers.
The marketing environment consists of the micro and macro environment.
Macro environmental factors include social, economic, political and legal influences, together with demography and technological forces. These are sometimes referred to as the PESTLE factors and are discussed in more detail in PESTLE analysis. The organization cannot control these forces, it can only prepare for changes taking place.
Micro environment refers to the forces closely influencing the company and directly affect the organizationâs relationships. The factors include the company and its current employees, its suppliers, marketing intermediaries, competitors, customers and the general public. These forces can sometimes be controlled or influenced and are explained in more detail in Porterâs 5 Forces.
Porterâs 5 Forces model is an excellent tool to analyze the structure of the competitive environment. Two important forces are the bargaining power of customers and the bargaining power of suppliers.
Supplier power is represented by their ability to determine the terms and price of supply and will increase if there are fewer suppliers than buyers, if the organization is not a key customer for the supplier, or if their industry is not attractive for suppliers.
Buyer power refers to the pressure that customers exert on companies to obtain high quality products and services at lower prices. Buyer power increases when there are few buyers and many sellers in the field, or when products are not significantly differentiated and can be easily substituted. For the seller, buyersâ demands represent costs. This means that the stronger the buyer is, the less profit available for the seller, which is why many companies try to develop strategies that reduce the power of buyers.
The PESTLE Analysis is a framework used to scan the organizationâs external macro environment. The letters stand for Political, Economic Socio-cultural, Technological, Legal and Environmental.
Sales organization is a part of the total organization which is given the responsibility of selling of products manufactured by a company
It is another organization within the larger organization which is given the responsibility of selling function
It involves people working together for attaining the sales objectives of the company
It is concerned with planning, organizing, leading and controlling the activities of the sales force
Chapter 1 introduction to sales and distribution managementNishant Agrawal
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To understand evolution, nature and importance of sales management
To know role and skills of modern sales managers
To understand types of sales managers
To learn objectives, strategies and tactics of sales management
To know emerging trends in sales management
To understand linkage between sales and distribution management.
Objectives of sales management are derived from the organizations marketing objectives.
Ultimate sales objective of an organisation is to have a decent growth in sales.
More specifically, sales management objectives can be grouped under:
Quantitative Objectives (Short-term)
Qualitative Objectives (Long-term)
Sales organization is a part of the total organization which is given the responsibility of selling of products manufactured by a company
It is another organization within the larger organization which is given the responsibility of selling function
It involves people working together for attaining the sales objectives of the company
It is concerned with planning, organizing, leading and controlling the activities of the sales force
Chapter 1 introduction to sales and distribution managementNishant Agrawal
Â
To understand evolution, nature and importance of sales management
To know role and skills of modern sales managers
To understand types of sales managers
To learn objectives, strategies and tactics of sales management
To know emerging trends in sales management
To understand linkage between sales and distribution management.
Objectives of sales management are derived from the organizations marketing objectives.
Ultimate sales objective of an organisation is to have a decent growth in sales.
More specifically, sales management objectives can be grouped under:
Quantitative Objectives (Short-term)
Qualitative Objectives (Long-term)
Promotion Mix, Factors determining the promotion mix, Promotional Tools,Types of Advertisement, Sales promotion, Public Relations and Publicity, Personal Selling, Distribution, Designing Marketing Channels, Channel functions, Types of Intermediaries.
speakerhead.com Owing to experience, we have been involved in providing Graphic Design Services. Our extremely effective graphics developers are well qualified in this sector and can style any kind of visual, whether it is business growth or other reasons. We are supported by a high-end service that is prepared with the innovative computer system and graphics designing program. Our clients can acquire this support from us at the most affordable price.
Similar to Importance of personal selling for B.com, M.com, BBA, MBA. (20)
Personal Selling and Salesmanship. this slideshow deals with the selling process which include prospecting and qualifying, pre-approach, approach, presentation and demonstration,handling of objections, sales close, after sales services.
UNIT- III SALES FORCEMANAGMENT FOR B.COM CBCS, PERSONAL SELLING AND SALESMANSHIPDr. Toran Lal Verma
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UNIT- III SALES FORCE MANAGEMENT FOR B.COM CBCS, PERSONAL SELLING AND SALESMANSHIP. This slideshow deals with the recruitment of salesman, selection of salesman, the selection process, the process of recruitment, methods of recruitment, internal and external sources of recruitment types of interviews, the difference between recruitment and selection.
UNIT V SALES REPORTS AND ETHICS IN PERSONAL SELLING FOR CBCS BCOM PERSONAL ...Dr. Toran Lal Verma
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UNIT V SALES REPORTS AND ETHICS IN PERSONAL SELLING FOR CBCS BCOM PERSONAL SELLING AND SALESMANSHIP. This slideshow deals with the meaning of sales report, types of sales reports, importance of sales report, meaning of sales manual, essentials of sales manual, contents of sales manual, What is a tour diary, what is cash memo, what is an order book, what are the ethics in personal selling etc.
5 big bets to drive growth in 2024 without one additional marketing dollar AND how to adapt to the biggest shifting eCommerce trend- AI.
1) Romance Your Customers - Retention
2) âAlternativeâ Lead Gen - Advocacy
3) The Beautiful Basics - Conversion Rate Optimization
4) Land that Bottom Line - Profitability
5) Roll the Dice - New Business Models
Financial curveballs sent many American families reeling in 2023. Household budgets were squeezed by rising interest rates, surging prices on everyday goods, and a stagnating housing market. Consumers were feeling strapped. That sentiment, however, appears to be waning. The question is, to what extent?
To take the pulse of consumersâ feelings about their financial well-being ahead of a highly anticipated election, ThinkNow conducted a nationally representative quantitative survey. The survey highlights consumersâ hopes and anxieties as we move into 2024. Let's unpack the key findings to gain insights about where we stand.
Monthly Social Media News Update May 2024Andy Lambert
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TL;DR. These are the three themes that stood out to us over the course of last month.
1ď¸âŁ Social media is becoming increasingly significant for brand discovery. Marketers are now understanding the impact of social and budgets are shifting accordingly.
2ď¸âŁ Instagramâs new algorithm and latest guidance will help us maintain organic growth. Instagram continues to evolve, but Reels remains the most crucial tool for growth.
3ď¸âŁ Collaboration will help us unlock growth. Who we work with will define how fast we grow. Meta continues to evolve their Creator Marketplace and now TikTok are beginning to push âcollabsâ more too.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
SMM Cheap - No. 1 SMM panel in the worldsmmpanel567
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Boost your social media marketing with our SMM Panel services offering SMM Cheap services! Get cost-effective services for your business and increase followers, likes, and engagement across all social media platforms. Get affordable services perfect for businesses and influencers looking to increase their social proof. See how cheap SMM strategies can help improve your social media presence and be a pro at the social media game.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Is AI-Generated Content the Future of Content Creation?Cut-the-SaaS
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Discover the transformative power of AI in content creation with our presentation, "Is AI-Generated Content the Future of Content Creation?" by Puran Parsani, CEO & Editor of Cut-The-SaaS. Learn how AI-generated content is revolutionizing marketing, publishing, education, healthcare, and finance by offering unprecedented efficiency, creativity, and scalability.
Understanding
AI-Generated Content:
AI-generated content includes text, images, videos, and audio produced by AI without direct human involvement. This technology leverages large datasets to create contextually relevant and coherent material, streamlining content production.
Key Benefits:
Content Creation: Rapidly generate high-quality content for blogs, articles, and social media.
Brainstorming: AI simulates conversations to inspire creative ideas.
Research Assistance: Efficiently summarize and research information.
Market Insights:
The content marketing industry is projected to grow to $17.6 billion by 2032, with AI-generated content expected to dominate over 55% of the market.
Case Study: CNETâs AI Content Controversy:
CNETâs use of AI for news articles led to public scrutiny due to factual inaccuracies, highlighting the need for transparency and human oversight.
Benefits Across Industries:
Marketing: Personalize content at scale and optimize engagement with predictive analytics.
Publishing: Automate content creation for faster publication cycles.
Education: Efficiently generate educational materials.
Healthcare: Create accurate content for patients and professionals.
Finance: Produce timely financial content for decision-making.
Challenges and Ethical Considerations:
Transparency: Disclose AI use to maintain trust.
Bias: Address potential AI biases with diverse datasets.
SEO: Ensure AI content meets SEO standards.
Quality: Maintain high standards to prevent misinformation.
Conclusion:
AI-generated content offers significant benefits in efficiency, personalization, and scalability. However, ethical considerations and quality assurance are crucial for responsible use. Explore the future of content creation with us and see how AI is transforming various industries.
Connect with Us:
Follow Cut-The-SaaS on LinkedIn, Instagram, YouTube, Twitter, and Medium. Visit cut-the-saas.com for more insights and resources.
Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
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E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
Key Takeaways:
Understand how search engines work
Be able to find out where your users search
Know what is required for each discipline of SEO
Feel confident creating an SEO Plan
Confidently measure SEO performance
Everyone knows the power of stories, but when asked to come up with them, we struggle. Either we second guess ourselves as to the story's relevance, or we just come up blank and can't think of any. Unlocking Everyday Narratives: The Power of Storytelling in Marketing will teach you how to recognize stories in the moment and to recall forgotten moments that your audience needs to hear.
Key Takeaways:
Understand Why Personal Stories Connect Better
How To Remember Forgotten Stories
How To Use Customer Experiences As Stories For Your Brand
AI-Powered Personalization: Principles, Use Cases, and Its Impact on CROVWO
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In todayâs era of AI, personalization is more than just a trendâitâs a fundamental strategy that unlocks numerous opportunities.
When done effectively, personalization builds trust, loyalty, and satisfaction among your usersâkey factors for business success. However, relying solely on AI capabilities isnât enough. You need to anchor your approach in solid principles, understand your usersâ context, and master the art of persuasion.
Join us as Sarjak Patel and Naitry Saggu from 3rd Eye Consulting unveil a transformative framework. This approach seamlessly integrates your unique context, consumer insights, and conversion goals, paving the way for unparalleled success in personalization.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
Videos are more engaging, more memorable, and more popular than any other type of content out there. Thatâs why itâs estimated that 82% of consumer traffic will come from videos by 2025.
And with videos evolving from landscape to portrait and experts promoting shorter clips, one thing remains constant â our brains LOVE videos.
So is there science behind what makes people absolutely irresistible on camera?
The answer: definitely yes.
In this jam-packed session with Stephanie Garcia, youâll get your hands on a steal-worthy guide that uncovers the art and science to being irresistible on camera. From body language to words that convert, sheâll show you how to captivate on command so that viewers are excited and ready to take action.
The Forgotten Secret Weapon of Digital Marketing: Email
Digital marketing is a rapidly changing, ever evolving industry--Influencers, Threads, X, AI, etc. But one of the most effective digital marketing tools is also one of the oldest: Email. Find out from two Houston-based digital experts how to maximize your results from email.
Key Takeaways:
Email has the best ROI of any digital tactic
It can be used at any stage of the customer journey
It is increasingly important as the cookie-less future gets closer and closer
3. 1. IMPORTANCE TO BUSINESSMEN/COMPANY:
a) Effective Promotional Tool: Personal selling is an effective promotional
tool in the hands of businessman for increasing sales. Salesman provides
information about the various features and advantages of his product as
well as about market developments.
b) Flexible Tool: Personal selling is the most flexible tool of promotion.
Sales presentation is adjusted according to the requirements of the
customer.
c) Minimizes Wastage of Efforts: Personal selling involves minimum
wastage of efforts as compared to other tools of promotion.
d) Customer Attention: The level of customer attention and interest can
easily be assessed under personal selling. Thereafter, the presentation can
be modified appropriately.
4. e) Lasting Relationship: Personal selling aims at developing good and
long lasting relationship between salesperson and the customer to
increase sales in line with WIN-WIN philosophy.
f) Personal Relationship: Competitive strength of a business organisation
increases with the development of personal rapport between its
salespersons and prospective customers.
g) Role in Introduction Stage: By describing the merits of a product and
persuading the customer to purchase it, salesperson helps in introducing a
new product in the market.
5. 2. IMPORTANCE TO CUSTOMERS:
a) Helps in Identifying Needs: It helps in identifying the needs & wants of
the customers, so that they can be satisfied by getting best products.
b) Latest Market Information: Under personal selling, customers are
provided with information regarding availability or shortage of product,
introduction of new product etc.
c) Detailed Demonstration: Personal selling is the only technique through
which detail demonstration of product takes place, which generates sales.
d) Expert Advice: Expert advice and guidance can be provided to the
customers while purchasing various goods and services.
6. 3. IMPORTANCE TO SOCIETY
a) Removes ignorance: Salesmanship removes ignorance and educates
people regarding different types of products and their utilities.
b) Assist the society: Salesman is one of the help to increase aggregate
sales and production in the country thereby increasing employment
opportunities. They help to maintain equilibrium between demand and
supply.
c) Employment Opportunities: It provides opportunity to unemployed
people to work as salespersons for earning income.
d) Mobility of Sales People: Travel and tourism in the country get
promoted by the mobility of the people from one place to another
7. 4. IMPORTANCE TO THE GOVERNMENT:
⢠The Government also receives maximum utility out of salesmanship.
Salesmanship helps the producers to produce and sell more of goods and
services. As production and sale in country increases, the Government is
able to get more revenue by way of various taxes, duties and levies like
sales tax, income tax, excise duty, freight and transportation charges. It
contributes to GDP growth of the country.