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Written by Editor
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Monday, 08 August 2005 |
Trade Shows
- Trade shows are designed to let entrepreneurs meet many potential customers face-to-face in a brief period of time for cheap
- Barbara Kimmelman of Sellit, Inc., a marketing and trade show consulting firm in Santa Monica, California, emphasizes the importance of a trade show. “A trade show can significantly help your business. Qualified buyers in your category are congregated in that city for a few days. Not only can you make an impression, but you can captivate them.”
- Trade shows are also great for small businesses because booth space is generally inexpensive and even small companies can afford attractive displays to make themselves look as substantial as much larger corporations
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Public Relations and Advertising |
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Written by Editor
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Monday, 08 August 2005 |
Advertising and Public Relations
What Can Advertising Do for My Business?
- Remind customers and prospective customers about the benefits of your product or service
- Establish and maintain your distinct identity
- Enhance your reputation
- Encourage existing customers to buy more of what you sell
- Attract new customers and replace lost ones
- Slowly build sales to boost your bottom line
- Promote your business to customers, investors, and others
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Written by Editor
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Monday, 08 August 2005 |
Marketing Plan
- A sound marketing plan, which includes your market research, your location, the customer group you have targeted, your competition, positioning, the product or service you are selling, pricing, advertising, and promotion, is the key to the success of your business
- Derek Hansen, founder of American Capital Access, explains the importance of knowing your customer base. “You’re in business to serve a customer need. If you’re not sensitive to customers, don’t know who your customers are, how to reach them and, most of all, what will convince them to buy your product or service, get help.”
- Effective marketing, planning, and promotion begins with current information about the marketplace
- You can start this process by visiting your local library, talking to customers, studying the advertising of other businesses in your community, and consulting with any relevant industry associations
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Analysis of Your Competition |
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Written by Editor
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Monday, 08 August 2005 |
Competitive Analysis
- It is vital to understand your competition because business takes place in a highly competitive, volatile environment
- You must ask some of the following questions:
- Who are your five nearest direct competitors?
- Who are your indirect competitors?
- Is their business growing, steady, or declining?
- What can you learn from their operations or from their advertising?
- What are their strengths and weaknesses?
- How does their product or service differ from yours?
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